PEH Primeline Energy Holdings Inc

NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRES SERVICES, OR DISSEMINATION IN THE
UNITED STATES.


Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSX VENTURE:PEH)
today announced that Primeline has signed an amended and restated agreement with
Victor Yiou-Hwa Hwang, its President, Chairman and largest shareholder amending
the terms of an existing working capital facility. Previously Mr. Hwang granted
Primeline a loan facility for working capital purposes of up to US$4,000,000
(the "Loan") The amount drawndown to date under the facility is US$3,205,128 so
that US$794,872.00 remains available. The terms of the loan have now been
amended such that the period during which the Loan Facility is available to be
drawn against is extended to 30th November 2012 and that the Loan is repayable
on written demand at any time after 30th April 2013. Primeline is exploring
options for generating funds to repay the Loan and expects to make an
announcement about repayment in due course.


In addition, Primeline has entered into an agreement with D&D Securities Inc.
("D&D") whereby D&D will act as a consultant to provide advice in relation to
investor relations. D&D will assist the Company with respect to matters such as
"road shows", research coverage and review of press releases. The arrangement
has no fixed duration but is terminable by either party on 90 days written
notice. D&D is a full service Canadian investment banking firm with its head
office in Toronto. D&D has no interest, directly or indirectly, in Primeline or
its securities or any right or intent to acquire such an interest and employees
of D&D own less than 1% of the issued and outstanding shares of Primeline. As
compensation, under an option agreement dated July 9th 2012, D&D will be issued
options to purchase a total of 500,000 common shares at $0.50 per share
exercisable until June 25th, 2017 under its "rolling 10%" option plan. There
were presently 6,479,125 shares reserved for issuance under the plan and
5,979,125 now remain following the grant of the option. The granting of the
stock option is subject to acceptance for filing by the TSX Venture Exchange.


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 in and is the operator of the
petroleum contract with CNOOC for Block 33/07 in the East China Sea and a 36.75%
interest in the LS36-1 gas field in Block 25/34 which is being developed by
CNOOC Limited (acting as Operator for the development) together with Primeline
and Primeline Petroleum Corp. ("PPC"). 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 bren@chfir.com and specify "Primeline
Energy" in the subject line.


Forward-Looking Statements

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 expectation that it will be
able to conclude arrangements to generate funds to repay the Loan. Actual
results may vary from those anticipated in such statements. Such arrangements
may not be entered into on the terms expected or at all. If not, Primeline may
be unable to repay the Loan. Exploration for oil and gas is subject to the
inherent risk that it will not result in a commercial discovery.

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