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Primeline Energy Holdings Inc. (“Primeline” or the “Company”) (TSXV: PEH) is pleased to announce the appointment of John Li as interim CFO of the Company. He will serve in that capacity until a permanent CFO is found. Mr. Li replaces Brian Chan, who has served as CFO since 1995. Mr. Chan will remain as a director of Primeline.
Mr. Li is the CFO (China) of Beijing Chyau Fwu Properties Company Limited., which is part of the Parkview Group and owned by the family of Primeline’s Chairman, President, and largest shareholder, Mr. Victor Hwang. He has over 30 years experience working in various financial capacities for public and private companies. Mr. Li is a Certified Public Accountant qualified in Hong Kong and Australia, and graduated with a Masters in Practicing Accounting from Monash University in Australia.
Mr Chan has always served on secondment by Parkview Group on a part time basis and Mr Li will serve on the same basis but, in view of the imminent completion of the LS36-1 gas field development with first gas anticipated in the 2nd half of this year, it is now essential that Primeline has a full time dedicated CFO. Accordingly, Primeline has engaged a recruitment agent to search for a suitable CFO.
About Primeline Energy Holdings Inc.
Primeline is an exploration and development company focusing exclusively on China resources to become a major supplier of gas and oil to the East China market. Primeline has a 75% Contractor’s interest in and is the operator of Petroleum Contract 33/07 in the East China Sea and a 36.75% interest in the LS36-1 gas field in Block 25/34 which is being developed by CNOOC (acting as operator for the development) together with Primeline and PPC. Shares of the Company 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
CONTACT:
PRIMELINE ENERGY HOLDINGS INC.
Dr. Ming Wang
CEO
Phone: +44 207.499.8888
Fax: +44 207.499.2288
Toll Free: 1.877.818.0688
Email: IR@pehi.com
CHF INVESTOR RELATIONS
Robin Cook
Senior Account Manager
Phone: +1 416.868.1079 ext. 228
Fax: +1 416.868.6198
Email: robin@chfir.com
Please visit the Company’s website at www.pehi.com. Should you wish to receive Company news via email, please email bren@chfir.com and specify “Primeline Energy” in the subject line.
Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Primeline. These statements relate to the timing of first production from the LS36-1 gas field. While these statements are based on assumptions believed by management to be reasonable, actual results may vary from those anticipated i n such statements. Gas may first be produced from the field at a later date, or not at all. If gas is produced later than expected or is not produced, revenues from the sale of such gas may be realized later than presently anticipated, or not realized at all. E xploration for oil and gas is subject to the inherent risk that it will not result in a commercial discovery.
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.
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