Primeline Spuds LS30-3-1 Prospect in Block 33/07 in East China Sea

Primeline Energy Holdings Inc. (Primeline or the Company) announced Monday that it has commenced the drilling operations of the LS30-3-1 well in Block 33/07 in the East China Sea.

Following the plug and abandon operation of LS23-1-1 announced Oct. 28, Primeline’s contractor, China Oilfield Service Ltd. (COSL), towed the rig HYSY 941 or COSL 941 (400' ILC) to the LS30-3-1 location Nov. 4 and successfully jacked up the rig on location Nov. 7. COSL subsequently completed all the necessary preparation work and Primeline obtained the operation license. LS30-3-1 well was then spud Nov. 13 and drilling is ongoing.

LS30-3-1 is located approximately 12.4 miles (20 kilometers) north of the LS36-1 gasfield platform and is targeting a large channel sand prospect. The planned total depth of the well is 5,906 feet (1,800 meters), targeting the same reservoir as that of the LS36-1 gasfield. The drilling time is anticipated to be around 25 days. The drilling of LS30-3-1 is part of the 2 well exploration drilling program by Primeline in 2015 as part of the rolling development program anchored on the LS36-1 production.

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