HONK KONG, CHINA–(Marketwired – Nov. 3, 2015) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRES SERVICES, OR DISSEMINATION IN THE UNITED STATES.
Primeline Energy Holdings Inc. (“Primeline” or the “Company“) (TSX VENTURE:PEH) today announced the appointment of Timothy Baldwin as a director of the Company effective immediately.
On August 14, 2015, upon completion by the Company of the issue of US$10 million principal amount of unsecured convertible bonds to GRF Prime Limited, a special purpose vehicle owned by a resources fund managed by GEMS Investment Management Limited, Mr. Baldwin was appointed a director of the Company subject to acceptance by the TSX Venture Exchange, which was received on October 29, 2015.
Mr. Baldwin is a Partner of General Enterprise Management Services (HK) Limited, a related company of GEMS Investment Management Limited. He has extensive experience in the oil and gas industry having been with BP between 1995 and 2008. In this time he worked in commercial roles focused on exploration and production, LNG, shipping as well as a number of the downstream businesses. His commercial roles included strategic planning, investment appraisal and corporate finance. Mr Baldwin has been based in Hong Kong since 2005, but also worked in BP’s head offices in London, Singapore and Melbourne. Since 2008, Mr Baldwin has run oil and gas investment for GEMS funds and through this time has developed broad relationships with industry participants across the region.
About Primeline Energy Holdings Inc.
Primeline is an exploration and production company focusing exclusively on China natural resources to become a major supplier of gas and oil to the East China market. Primeline has a 100% Contractor’s interest in, and is the operator of, the petroleum contract with CNOOC for Block 33/07 (5,877sq km) and a 49% interest in the producing LS36-1 gas field in Block 25/34, together with CNOOC (51% interest and acting as Operator). Both blocks are located in the East China Sea. LS36-1 has been in production since July 2014. Shares of Primeline are listed for trading on the TSX Venture Exchange under the symbol PEH.
ON BEHALF OF PRIMELINE ENERGY HOLDINGS INC.
Ming Wang, Chief Executive Officer
Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Primeline. Although these statements are based on assumptions management believes to be reasonable, actual results may vary from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Primeline Energy Holdings Inc.
Dr. Ming Wang
+44 207.499.2288 (FAX)
Toll Free: +1 877.818.0688
CHF Investor Relations
Toll Free: +1.877.838.1079
VSA Capital Limited
Head of Corporate Finance