PEH Primeline Energy Holdings Inc

Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSX VENTURE:PEH)
today announced that it has filed its disclosure and reports relating to its
financial year ended March 31, 2012 and its oil and gas information required
under National Instrument 51-101. It has also filed an updated reserves report
from independent engineering auditor McDaniel & Associates Consultants Ltd.
("McDaniel").


The financial disclosure and reports include the management discussion and
analysis, financial information, and audited accounts for financial year ending
March 2012 and oil and gas information which is included in the Annual
Information Form. Copies of these documents may be obtained via www.SEDAR.com or
on Primeline's website at www.pehi.com.


As part of its annual reserves report, McDaniel of Calgary, Canada, updated its
independent evaluation of the LS 36-1 gas field development following recent
progress. McDaniel reviewed the full Overall Development Plan for the
development and the gas sale agreements which had been previously entered into
and has updated its evaluation of the natural gas and natural gas liquid
reserves located in the LS36-1 gas field in accordance with the standards set
out in Canadian National Instrument 51-101 and the Canadian Oil and Gas
Evaluation Handbook (COGEH). McDaniel's evaluation estimates that the LS36-1 gas
field has a total project recoverable Probable Reserves of 119 bcf of natural
gas and 4.9 MMbbl of natural gas liquid and light oil, which translates to
Company net Probable Reserves of 45.1bcf of gas and 1.9 MMbbl of natural gas
liquid and light oil and project Possible Reserves of 93 bcf of gas and 3.7MMbbl
of natural gas liquid and light oil, which translates to Company net Possible
Reserves of 34 bcf of gas and 1.40 MMbbl of natural gas liquid and light oil.
Under the oil industry definition, there is a 50% probability that the
quantities actually recovered will equal or exceed the Probable Reserves.
Possible Reserves are those additional reserves that are less certain to be
recovered than Probable Reserves. There is a 10% probability that the quantities
actually recovered will equal or exceed the Possible Reserves. McDaniel stated
that "As it looks likely that the development will be approved, proved plus
possible ("2P") and proved plus probable plus possible ("3P") reserves have been
assigned as part of this evaluation. Proven reserves have not been assigned as
the ODP has not yet been approved by the government." 


Based on its view of the full market product price and the progress made on the
LS36-1 Development, McDaniel estimates a net present value for the LS 36-1
project's Probable Reserves, net to Primeline, of US$189 million at a discount
rate of 5% and US$422 million, again net to Primeline, when the Possible
Reserves in LS 36-1 are included. It should be noted that these estimated values
are not an estimate of fair market value. The effective date of McDaniel's
evaluation is March 31, 2012.


A summary form of the McDaniel's report is available on Primeline's website:
www.pehi.com.


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 Corporation. 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.

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