Primeline begins offshore 3D seismic survey in block 33/07 of East China Sea

Primeline Energy Holdings Inc. reports that its contractor, China Oilfield Services Ltd., has begun a 3D seismic survey in block 33/07 of the East China Sea.

Offshore staff

LONDONPrimeline Energy Holdings Inc. (TSXV: PEH) reports that its contractor, China Oilfield Services Ltd. (COSL), has begun a 3D seismic survey in block 33/07 of the East China Sea.

As previously announced, Primeline signed a turnkey contract with COSL for a 600-sq-km (232-sq-mi) 3D seismic survey in block 33/07 as part of a rolling development and exploration program. Due to delays incurred in COSL's preceding work, the 3D seismic survey vessel, Hai Yang Shiyan 718, arrived at Primeline's location on March 30, later than anticipated, and the vessel started deploying the streamer for the survey on March 31.

The survey is estimated to last around 50 days, subject to weather and fishing activities in the area.

Primeline has 3D seismic data covering the LS36-1 gas field development and its immediately surrounding prospects. The area now being surveyed is north of and adjacent to this existing 3D seismic data area. The survey is intended to provide better definition of the prospects and leads that have been identified in the survey area using 2D data, in order to generate more drillable prospects.

In the meantime, the LS36-1 gas field development is progressing well with CNOOC Ltd., as operator, working on the final connection to allow the production to begin soon. Based on current information from CNOOC, the target for first gas remains around mid-2014.

04/02/2014

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