Not for distribution to the
Primeline also announces that as a result of the previously announced cease trade order issued against it by the
About
Primeline is an exploration and production company focusing exclusively on
ON BEHALF OF PRIMELINE ENERGY HOLDINGS INC.
Signed “Andrew Biggs”
Chief Executive Officer
Contact:
PH: +44 207.499.8888 Fax: +44 560 372 5179 Toll Free: 1.877.818.0688 E-Mail: IR@pehi.com |
Please visit the Company’s website at www.primelineenergy.com.
Neither the
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 Primeline’s ability to continue operations, and Primeline’s expectations regarding the outcome of the application to set aside the Award. Although these statements are based on assumptions management believes to be reasonable, actual results may vary from those anticipated in such statements. The syndicate of banks which provided finance for Primeline’s share of the development cost for the LS 36-1 Gas Field may realize on its security interest over Primeline’s interest in the LS 36-1 Gas Field, and if it does that will result in the seizure of all of Primeline’s material assets, in which event Primeline will be unable to continue operations. Primeline’s application to set aside the Award may not be successful, and if it is not the Award will remain in place, and an order for costs may be made against Primeline. Primeline assumes no obligation to update forward-looking information, except as required by law. Exploration for oil and gas is subject to the inherent risk that it will not result in a commercial discovery.
Source:
2020 GlobeNewswire, Inc., source