HONG KONG, CHINA--(Marketwire - Nov. 26, 2010) - Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSX VENTURE:PEH) is pleased to announce that at the Company's Annual and Extraordinary General Meeting held on November 26, 2010, shareholders approved the Company's amended "rolling 10%" Stock Option Plan, under which up to 10% of the Company's issued and outstanding common shares from time to time may be reserved for issuance. A copy and a summary of the terms of the amended Stock Option Plan are contained in the Company's Information Circular dated October 19, 2010 filed on SEDAR. At the same meeting, shareholders also approved amendments to the Company's Articles of Association to provide for electronic registration of shares, telephone and internet proxy voting and various housekeeping amendments, details of which were provided in the Information Circular.
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 and is the operator for exploration in the Petroleum Contract with CNOOC for Block 25/34, an offshore exploration area of 5,221 km(2) in the East China Sea. Primeline also has a 36.75% interest in the LS 36-1 gas field in Block 25/34 which is being developed by Primeline together with CNOOC (acting as Operator for the development) and Primeline Petroleum Corporation. CNOOC is proceeding with the preparation of the development and Primeline is leading the exploration effort currently focused on the prospects in the 3D seismic data area where a number of high potential prospects near the LS 36-1 development have been mapped and where the new LS 35-3-1 discovery is located. The new LS 35-3-1 discovery and previously drilled wells in and around Block 25/34 indicate that there is significant hydrocarbon potential in the remainder of the Block. 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
Please visit the Company's website at www.pehi.com. Should you wish to receive Company news via email, please email firstname.lastname@example.org and specify "Primeline Energy" in the subject line.Neither 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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