Contact: Please visit the Company’s website at www.primelineenergy.com. Primeline has been pressing CCL, as Operator, to carry out remedial work and increase production in order to increase revenue but CCL has been slow to take any action. The Syndicate Banks may take enforcement action prior to the making of the award in the CNOOC Arbitration notwithstanding the confirmation referred to in this news release. These statements relate to Primeline’s expectation that it will ultimately be successful in the CNOOC Arbitration, and that the Syndicate Banks will continue to take no enforcement action as a result of Primeline’s default under the Syndicate Facility pending the making of the award in the CNOOC Arbitration. Copyright © 2020 Primeline Energy Holdings Inc.. All rights reserved.

Having spent time in Sales (On Trade, Retail & Grocery), Marketing, Planning and Strategy roles with Heineken in New Zealand, Ireland and The Netherlands his last role with Heineken was managing Global Duty Free and European Export from Amsterdam. Primeline is an exploration and production company focusing exclusively on China natural resources under petroleum contracts with CNOOC in the East China Sea. Chairman LS36-1 has been in production since July 2014. However, as of May 21, the Syndicate Banks have confirmed that, notwithstanding the default, they will not take enforcement action but will continue to support Primeline in order to maintain production and operations until the award in the CNOOC Arbitration has been received.

Any of these events may result in Primeline’s insolvency, and seizure of Primeline’s assets. Mr. Biggs has been the Company Secretary and General Counsel since 2007 and has at all times been fully involved in the management of the Group with Dr Wang.

Nikki is down to earth, has a simple and fun "no nonsense" approach which is a perfect combination to get things done!

Shares of Primeline are listed for trading on the TSX Venture Exchange under the symbol PEH.

Further announcements will be made as and when there is any further development.

As a precaution, CCL also reduced production from well A1M which drains the same reservoir. Primeline is an independent, China focused oil and gas exploration and production company with shares listed on the TSX Venture Exchange under the symbol “PEH”. Not for distribution to the U.S. news wire services, or dissemination in the United States.

Signed “Andrew Biggs” Should you wish to receive Company news via email, please email robin@frontiermcg.com and specify “Primeline Energy” in the subject line. Until the resolution of the arbitration against CNOOC, the Company’s direction is constrained and Mr. Biggs is the best person to be interim CEO in this current stage of the Company’s development.


30 Days …

Managing Director Sales and Marketing

As a result of revenue being significantly reduced due to the reduction in production from the LS 36-1 gas field since September 2018, it was impossible for Primeline to make full repayment of principal in accordance with the agreed schedule, which was based on production according to the ACQ and resulting revenue. Tim is a qualified accountant and joint owner of the business; he has overseen the vast expansion of the business and always puts the customer first. Her experience spans across retail, Manufacturing, FMCG, Distribution & Supply Chain from SME to Global Multinationals. Shares of Primeline are listed for trading on the TSX Venture Exchange under the symbol PEH. Keith prides himself on building teams with a strong team culture whilst driving efficiency and simplicity in everyday operations. He has 20 years of experience across the FMCG, Manufacturing & Logistics industries.

As such, Primeline believes there was no reason to reduce production from the A1M well and that CCL as Operator should repair the A5 well. Nikki specialises in business transformation, values based culture revolution, organisational design, change management and building / leading high performing teams. Damian has over 30 years of financial experience and worked in roles such as Head of Finance in Mars Ireland, Finance Director for Applegreen, Director with G4S, Finance Director RTE Television and CIO of Hermitage Medical Clinic. With such confirmation and support, the Company intends to maintain normal operations whilst waiting for the award. Nikki has 17 years of experience helping companies deliver their strategy through engaging and mobilising their people. Group Operations Director Subsequent investigations showed that the water in the A5 well was not formation water but leaked completion fluids. Nikki Mullin Exploration for oil and gas is subject to the inherent risk that it will not result in a commercial discovery.

Should you wish to receive Company news via email, please email robin@frontiermcg.com and specify “Primeline Energy” in the subject line. Chief Executive Officer


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