Dr. Ming Wang reports

PRIMELINE FILES REVISED FORM 51-101F1 AND ANNUAL FINANCIAL STATEMENTS

As a result of a review by the British Columbia Securities Commission, Primeline Energy Holdings Inc. is issuing the following press release to clarify its disclosure.

A continuous disclosure review conducted by the BCSC identified certain deficiencies in the company's Form 51-101F1, Statement of Reserves Data and Other Oil and Gas Information, contained in the company's annual information form for the year ended March 31, 2018, dated July 24, 2018, and in the audit report on the company's financial statements for the year ended March 31, 2018, filed on SEDAR. As a result, the company has filed a revised Form 51-101F1. The revisions consist largely of inclusion of items to address the requirements of Form 51-101F1, such as descriptions of properties with no attributed reserves, forward contracts and the company's tax horizon, and the inclusion of the company's prospective resources as of March 31, 2018, as an appendix. The company has also filed revised audited annual financial statements for the year ended March 31, 2018. The revisions are to the audit report on such financial statements and consist of changes to indicate that the audit was carried out in accordance with International Standards on Auditing and to refer to the comparative period for the year ended March 31, 2017. There have been no changes to any line items or amounts in the financial statements.

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-per-cent contractor interest in, and is the operator of, the petroleum contract with CNOOC for block 33/07 (4,397 square kilometres) and a 49-per-cent interest in the producing LS36-1 gas field in block 25/34, together with CNOOC (51-per-cent interest and acting as operator). Both blocks are in the East China Sea.

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