Dr. Ming Wang reports

PRIMELINE INTERIM FINANCIAL STATEMENTS SHOW INCREASE IN CASH AND CASH EQUIVALENTS TO CAD$24.5 MILLION

Primeline Energy Holdings Inc. has filed its unaudited quarterly financial statements relating to the three- and nine-month periods ended Dec. 31, 2014. The financial disclosure and reports include management discussion and analysis, and interim consolidated financial statements for the third quarter of the financial year. Copies of these documents may be obtained on SEDAR under Primeline's profile or on Primeline's website.

Key highlights include:

• Trial-production-phase revenues from the LS36-1 gas field from July 16 to Dec. 1, 2014, of $26.26-million. These cash flows have been booked in the investing activities in the statement of cash flows and not in the income statement;
• Commercial-phase production revenues of $9.5-million for December, 2014;
• Cash and cash equivalents increased to $24.49-million over the nine-month period to Dec. 31, 2014.

Dr. Ming Wang, chief executive officer, commented:

"The last quarter was a momentous one for Primeline -- with first cash flow from the LS36-1 gas field, repayment in full of our development costs and strong production performance. Net cash at year-end equates to 22 cents per share. We look forward to progressing our exciting plans for rolling development and exploration activity under petroleum contract 33/07 in order to capitalize on the infrastructure we built for the LS36-1 gas field with CNOOC [China National Offshore Oil Corp.]."

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