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


Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSX VENTURE:PEH)
is pleased to announce that it has received disinterested shareholder approval
for the loan memorandum with China Development Bank ("CDB") regarding the
project finance facility for the development of the LS36-1 gas field previously
announced on November 8, 2012, at its Annual General Meeting (the "Meeting")
held in Toronto on November 19, 2012. 99.88% of votes cast on the resolution to
approve the Loan Memorandum were in favour, with shares owned directly or
indirectly by Mr. Victor Hwang, Chairman and controlling shareholder of the
Company, excluded from voting in accordance with the policies of the TSX Venture
Exchange.


The Loan Memorandum is non-binding, and subject to the approval of CDB's credit
committee. Conditions precedent to entry into a legally binding loan agreement
as set out in the Loan Memorandum include approval of the ODP by the PRC
National Development and Reform Commission, and a support letter from Mr. Hwang
confirming his undertaking to arrange for additional funding to be made
available to the extent necessary to ensure the completion of the Development,
that the design production level specified in the ODP is achieved, and that the
borrowers are able to timely repay principal and interest on the loan. 


CDB (http://www.cdb.com.cn) is a financial institution in China under the direct
jurisdiction of the State Council with net assets over US$1 trillion. It is
primarily responsible for raising funding for large infrastructure projects.
Debt issued by CDB is fully guaranteed by the central government of the People's
Republic of China. CDB is one of the biggest issuers of bonds in China. CDB's
mission statement reads "CDB provides medium to long term financing facilities
that assist in the development of a robust economy and a healthy prosperous
community, it aligns its business with national economic strategy and allocates
resources to break through bottlenecks in China's economic and social
development. CDB carries out its mission by supporting the development of
national infrastructure, basic industry, key emerging sectors and national
priority projects...". The nature of Primeline's business accordingly qualifies
for support from CDB.


CDB is now preparing the submission of the loan facility for approval of its
credit committee. An announcement will be made when and if such approval is
obtained.


Election of Directors

Primeline is pleased to report that Mr. Hwang, Ming Wang, Brian Chan, Alan
Johnson, Peter Kelty and Yunshi Cao were re-elected as directors at the Meeting.
Graeme Phipps did not stand for re-election. Primeline thanks Mr. Phipps for his
long service on the board and his many contributions to the Company's
development. 


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 (acting as Operator for the Development) together with Primeline and 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.


This news release may contain assumptions, estimates, and other forward-looking
statements regarding future events. In particular, this news release contains
forward-looking statements related to entry into a binding loan agreement with
China Development Bank. Such forward-looking statements involve inherent risks
and uncertainties and are subject to factors, many of which are beyond the
Company's control that may cause actual results or performance to differ
materially from those currently anticipated in such statement. In particular, it
may not be possible to conclude a binding loan agreement with China Development
Bank, and if so, the Company will have to make other arrangements to finance its
share of the development costs, which may or may not be possible to conclude on
advantageous terms or at all. Further, the commencement of gas production may be
delayed. Readers should not place undue reliance on forward-looking statements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Primeline Energy Holdings Inc.
Dr. Ming Wang
CEO
+44 207.499.8888 or Toll Free: 1.877.818.0688
+44 207.499.2288 (FAX)
IR@pehi.com
www.pehi.com


CHF Investor Relations
Robin Cook
Senior Account Manager
+1 416.868.1079 ext 228
+1 416.868.6198 (FAX)
robin@chfir.com
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