Primeline Energy Holdings Inc. Corporate Presentation May 2017 Pr - - PowerPoint PPT Presentation

1 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

May 2017

Primeline Energy Holdings Inc. Corporate Presentation

2 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

1. T SX- V liste d E &P China g a s pla y pro duc ing fo r 3 ye a rs fro m $600m+ re g io na l

pro duc tio n infra struc ture hub in E a st China Se a in pa rtne rship with CNOOC.

2. Strong ma na g e me nt te a m prove n to kno w ho w to o pe ra te in China . 3. Suc c e ssful outc ome to a rbitra tion with C$51m re c e ive d in se ttle me nt a nd g a s

so ld unde r a 15 ye a r ta ke o r pa y c o ntra c t fe a turing a fixe d pric e a nd g e ne ra te s a b o ut CAD$50m o f E BI T DA pe r ye a r.

4. F ina nc e d by le a ding polic y ba nks in China re c e ntly suc c e ssfully re sc he dule d. 5. Ac c e ss to the e a ste rn China g a s ma rke t. China is the wo rld’ s se c o nd la rg e st

e ne rg y ma rke t, b ut with g a s a t just 5.5% o f to ta l e ne rg y mix, inc re a se d g a s utiliza tio n ha s b e c o me a fo c us o f Chine se g o ve rnme nt e ne rg y po lic y

6. Hig h ma rg in hydroc a rbon upside in the fie ld a nd in the 4,397 km 2 e xplo ra tio n

c o nc e ssio n no w in the se c o nd pha se o f the e xplo ra tio n pro g ra m with the ne xt we ll in a ppro x. 12 mo nths. Altho ug h unc o mme rc ia l hydro c a rb o ns in pha se 1, the te c hnic a l disc o ve ry pro vide s vita l info rma tio n fo r future e xplo ra tio n

L e a ding China F

• c use d Oil a nd Ga s Compa ny

3 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

• E

&P fo c us in Xihu T ro ug h (Ba sin) in No rthe rn E a st China Se a , a nc ho re d o n two e xisting fie lds:

• Ping hu F

ie ld: o nstre a m in 1998, 386 km 14” pipe line to Sha ng ha i te rmina l

• Chunxia o F

ie ld: o nstre a m in 2006, 360 km 28” pipe line to Ning b o a nd fo ur pro duc tio n pla tfo rms. E xpa nsio n de ve lo pme nt unde rwa y

–

L S36-1 Ga s F ie ld: in so uthe rn E a st c hina Se a : o n stre a m in 2014

Pr

• ve n pe tr
• le um pr
• vinc e

4 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

• L

S36-1 g a s fie ld in pro duc tio n, a c c e ssing ma rke t thro ug h the re g io na l pro duc tio n infra struc ture hub

• Ro lling de ve lo pme nt

in fie ld a nd ne a rb y

• E

xplo ra tio n in the 4,397 km2 c o nc e ssio n c a n b e ho o ke d into the pro duc ing L S36-1 fa c ility

737 km2 of existing 3D seismic data Newly acquired 600 km2 of 3D seismic

Pr

• duc ing gas with ve r

y high gas pr ic e c ontr ac t se c ur e d

5 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Zhe jia ng Pro vinc e

• 50 millio n plus po p.
• F
• urth la rg e st

e c o no my in China

• So me o ve rsupply

a fte r ra pid g ro wth in pa st 10 ye a rs to ~6.6 b c mpa

• Ga s is o nly 2.8% o f

to ta l e ne rg y mix

L S36- 1 is a stra te g ic g a s fie ld a s the c lose st re sourc e s to the provinc e

Ningbo L NG

Mar ke t: Ac c e ss to Zhe jiang Gas Gr id

6 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

• Ra pid g a s infra struc ture de ve lo pme nt (L

NG te rmina l a nd lo ng dista nc e pipe line ) in the la st 10 ye a rs

• Dra ma tic o il a nd c o a l pric e re duc tio ns sinc e la te 2014 a nd slo w do wn o f

Chine se e c o no my le d to lo we r g a s de ma nd a nd o ve rsupply. Ga s pric e fo r

• nsho re pipe line g a s in China dro ppe d o n No ve mb e r 20, 2015 b y 34% in

Zhe jia ng Pro vinc e

• Curre nt g a s o ve rsupply will c o rre c t e ve ntua lly a nd stra te g ic supply a nd

c o nne c tivity will ha ve va lue . L

• ng te rm, still re ma ins a ve ry a ttra c tive ma rke t
• Still the hig he st g a s pric e re g io n in the wo rld
• China g a s usa g e is o nly 5.5% o f to ta l e ne rg y mix
• I

nfra struc ture a nd pipe line s in pla c e so a ll ne w disc o ve rie s o f g a s wo uld b e ve ry pro fita b le

Chine se Gas Mar ke t

7 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

We st- E ast Pipe line Pr

• je c ts
• Pha se 1: 4,000 km pipe line fro m Xinjia ng to

Sha ng ha i; 18 b c mpa , o n-stre a m No ve mb e r 2004

• Pha se 2: 6,000 km (9,000 inc lud ing b ra nc he s) fro m

T urkme nista n to Gua ng zho u a nd Sha ng ha i; 30 b c mpa pla nne d ; o n-stre a m 2012

• Sic hua n Ga s T
• E

a st: 2,150 km pipe line fro m Sic hua n to Sha ng ha i; 12 b c mpa ; o n-stre a m No ve mb e r 2010

L NG Pr

• je c ts
• She nzhe n L

NG (3 mto n): first d e live ry in 2006; Pla nne d e xpa nsio n to 7 mto n

• F

ujia n L NG: (2.6 mto n) first d e live ry 2009

• Ning b o L

NG: first d e live ry 2013

• Othe r L

NG te rmina ls c o mple te d o r und e r d e ve lo pme nt

Offshor e Gas F ie lds

• T

he re a re e ig ht g a s pipe line s to E a st China tha t a re o pe ra tio na l fro m o ffsho re g a s fie ld s

E ast China Gas De ve lopme nts

8 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

F ir st we ll: L S23- 1- 1 T D 2666m Se c ond we ll L S30- 3- 1 T D 2000m Bloc k 33/ 07 showing we ll loc ations and L S36- 1 Gas F ie ld

LS23-1-1 LS30-3-1

Western Margin Fault Block Zone

2015 E xplor ation Dr illing Pr

• gr

am

9 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Gr

• ss Pr
• spe c tive Re sour

c e s - Natur al Gas – 31/ 3/ 16

Pro spe c tive Re so urc e s - Unriske d (1) Riske d (2) Re so urc e s Cha nc e o f Suc c e ss (3) Pro spe c t L

• w

Me dium Me a n Hig h Me a n MMc f MMc f MMc f MMc f MMc f % L S36-1 Pa le o c e ne -M1-0 2,740 5,436 6,301 11,055 4,593 73 L S36-1 Pa le o c e ne -M1-1 1,716 3,936 4,729 8,745 3,447 73 L S36-1 Pa le o c e ne -M2 4,942 14,300 18,929 38,222 11,357 60 L S36-1 Pa le o c e ne -M3 14,308 31,325 37,045 67,044 25,932 70 L S36-1 Pa le o c e ne -L 1 8,347 23,808 32,791 68,497 16,395 50 L S36-1 Pa le o c e ne -L 2 2,353 5,271 6,448 11,998 2,579 40 L S30-8 Pa le o c e ne -M2 9,190 27,006 35,747 72,219 5,405 17 L S36- 1 Sub tota l) 43,595 111,081 141,989 277,770 69,709 L S23-2 N T

• ta l

7,549 23,443 34,834 74,191 3,102 80 L S23-2 S T

• ta l

8,459 28,480 43,444 93,278 3,662 80 L S29-3 Pa le o c e ne -M1-2 7,607 24,278 35,589 75,152 4,100 80 A Pa le o c e ne -M1-2 5,332 16,571 24,127 51,333 5,559 90 B Pa le o c e ne -M1-2 7,798 20,492 26,584 53,363 3,101 90 E No rth Pa le o c e ne -M1-2 2,755 7,366 9,614 18,902 433 60 E So uth Pa le o c e ne -M1-2 2,509 6,719 8,973 18,070 404 60 T 1 Cha nne l Pa le o c e ne -M1-2 7,610 23,636 34,220 73,465 6,338 90 T 3 De e p Pa le o c e ne -M1-2 10,326 27,565 36,333 73,366 7,151 90 L S35-1 T

• ta l

21,225 69,048 106,442 233,827 11,658 90

Bloc k 33/ 07 3D Se ismic Ar e a 81,171 247,598 360,158 764,948 45,508 T

• tal Pr
• pe r

ty Gr

• ss

124,766 358,679 502,147 1,042,717 115,216

High Mar gin Upside Pote ntial Ide ntifie d

• Mc Da nie l inde pe nde ntly a sse sse d upside a s fo llo ws:

10 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

• Curre nt pro duc e rs a re in M1-1 a nd M1-2 sa nds
• Additio na l g a s in o the r sa nds a nd in lo we r tig ht re se rvo irs

M11 M12 M2 M31 M32 L1 L2

Cr

• ss- se c tion of L

S36- 1

Additional Re sour c e s in L

• we r

Zone s

11 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

E xisting we lls sho wn in b la c k

30-8 Exploration Prospect Wells LS36-1 M2 & M3 wells LS36-1 M10 well LS36-1 M11 Sth well LS36-1 M11 SW well

• E

ig ht lo c a tio ns a nd we ll tra c ks se le c te d a s c a ndida te s fo r re se rve a dditio ns

Re se r ve Additions via Phase 2 Dr illing fr

• m Platfor

m

12 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

L S36- 1 F ie ld Ne ar by Pr

• spe c ts

13 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

• Sha re s ha ve tra ding we ll b e lo w pre vio us tra ding ra ng e o f 40c -70c . T

his is a c a sh pro duc ing c o mpa ny with e xplo ra tio n a nd a b a se po sitio n in a ma jo r e ne rg y ma rke t.

• Pha se 1 o f L

S36-1 is c a sh flo wing – E BI T DA o f CAD$50 millio n e xpe c te d in 2017

• Se ttle me nt o f ZG dispute – o ne o ff c a sh flo w o f CAD$49 millio n
• Se lling into o ne o f the ke y pro vinc ia l e c o no mie s in China . De spite slo we r

de ma nd re c e ntly, this re ma ins o ne o f the hig he st g a s pric e re g io ns in the wo rld

• Ma na g e me nt with pro ve n tra c k re c o rd a nd o pe ra tio na l e xpe rtise
• One o f the ve ry fe w o ffsho re g a s de ve lo pme nts in China - with a wo rld c la ss

$600m+ infra struc ture hub

• Pha se 2 e xplo ra tio n pro g ra m plus ro lling de ve lo pme nt in c o nc e ssio n with

upside po te ntia l a b le to sha re infra struc ture . T he e a st sub -b a sin ha s o il po te ntia l to b e e xplo re d in the Blo c k.

Good e ntr y point for shar e s

14 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Appe ndic e s

Supple me nta ry T e c hnic a l a nd Ope ra tio na l Da ta Bo a rd o f Dire c to rs Ma na g e me nt a nd T e c hnic a l T e a m Co rpo ra te Struc ture

15 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

L S36- 1: De ve lopme nt sc he dule

2009 2010 2011 2012 2013

9 # 11 # 1 2 3 4 5 6 7 8 9 # 11 # 1 2 3 4 5 6 7 8 9 # 11 # 1 2 3 4 5 6 7 8 9 # 11 # 1 2 3 4 5 6 7 8 9 # 11 # 1 2 3 4 5 6 7 8 9 # 11 # 1 2 3 4 5 6 7 8 9

Gas Sales Agreement Compilation of ODP Development Agreements & Execution Revisions of the ODP & EIA approval Basic Design Fabrication & installation of Jacket Fabrication & installation of Topsides Fabrication & laying of Subsea Pipeline Laying of Gas Sales Pipeline Construction of Terminal Drilling & completion Joint commissioning First Gas Development Activity Milestone Development Programme 2008 Critical Path First production date 2014

Activity

Agreement in principle Framework Agreement

16 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

L S36- 1: De ve lopme nt mile stone s

Co mme rc ia l Ag re e me nts Oc to b e r 2008 Ga s Sa le Ag re e me nt-in-princ iple sig ne d, sub se q ue nt F ra me wo rk a nd Ame ndme nt Ag re e me nts sig ne d in 2011 a nd 2012 E nd 2009 Ove ra ll De ve lo pme nt Pro g ra m c o mple te d April 2010 De ve lo pme nt Ag re e me nts sig ne d De sig n a nd Co nstruc tio n De c e mb e r 2010 E ng ine e ring de sig n c o mme nc e d Se pte mb e r 2011 Pro c ure me nt a nd fa b ric a tio n c o mme nc e d April 2012 Site insta lla tio n c o mme nc e d June 2013 Me c ha nic a l Co mple tio n o f pla tfo rm, te rmina l & o ffsho re pipe line July 2014 De ve lo pme nt c o mple te d a nd pro duc tio n c o mme nc e d Pro je c t F ina nc e July 2010 L

• a n Me mo ra ndum sig ne d

No ve mb e r2012 Re vise d L

• a n Me mo ra ndum sig ne d

No ve mb e r 2014 CDB/ E XIM/ SPDBPro je c t F ina nc e c o nfirme d, sig ne d a nd dra wn do wn

17 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Ja c ke t Insta lla tio n 2012

De ve lo pme nt Drilling 2013 T

• pside lifte d Ma y 2013,

insta lla tio n c o mple te d June 2013

L S36- 1: De ve lopme nt in image s

18 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

L S36- 1: We lls

LS36-1-2 LS36-1-1 A3 A1M A5 M1-0 Mapped Area

Proposed Horizontal Well

A2H A4PP

T

• p M1- 2 / M1- 1 Me r

ge d & M1- 0 (Patc h) Contour e d to GWC (5m CI)

19 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Onshor e Pr

• c e ssing T

e r minal – in ope r ation

20 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Boar d of Dir e c tor s

Vic tor Hwa ng | Cha irma n a nd Pre side nt

E xe c utive Dire c to r o f the fa mily c o ntro lle d Pa rkvie w Gro up , a c o ng lo me ra te o f priva te c o mpa nie s. Pa rkvie w’ s ro o ts lie in the Chya u F wu Gro up, a pio ne e ring c o nstruc tio n a nd de ve lo pme nt b usine ss fo unde d in T a iwa n in the 1950s. One o f its re c e nt pro je c ts, 200,000 sq m Pa rkvie w Gre e n in Be ijing , wa s the first mixe d-use pro je c t in China to b e a wa rde d the L E E D (L e a de rship in E ne rg y a nd E nviro nme nta l De sig n) Pla tinum c e rtific a tio n. T he Pa rkvie w Gro up o f to da y ha s dive rse inve stme nts in E uro pe a nd Asia ra ng ing fro m the to p-e nd re side ntia l a nd ho te l de ve lo pme nts, c utting e dg e c o nstruc tio n a nd ma te ria ls re se a rc h fa c ilitie s to a rts o rg a nisa tio ns who se c o re b usine ss inc lude s pro pe rty de ve lo pme nt, shipping a nd ho spita lity. Mr. Hwa ng is a lso Pre sid e nt o f Pa rkvie w I nte rna tio na l L

• ndo n L

td - the c o mp a ny tha t so ld Ba tte rse a Po we r Sta tio n in L

• ndo n fo r

US$780M in la te 2006 a nd ho lds a BSc in Busine ss Administra tio n a nd ha s sig nific a nt b usine ss a nd po litic a l re la tio nships in China .

Ming Wa ng | Dire c tor a nd CE O

• Dr. Wa ng jo ine d in 1994, a ppo inte d a s Vic e Pre side nt o f E

xplo ra tio n in 1996 a nd CEO in 2006. Sinc e the n he ha s b e e n re spo nsib le fo r a ll te c hnic a l a nd c o mme rc ia l o pe ra tio ns fo r Prime line , inc luding the suc c e ssful drilling o pe ra tio n o f the L S36-1-1 disc o ve ry we ll. He ha s e xte nsive kno wle dg e o f, a nd c o nta c ts within, China 's pe tro le um industry. He ho lds a PhD in Ge o lo g y fro m I mpe ria l Co lle g e , L

• ndo n.

Bria n Cha n | Dire c tor

• Mr. Cha n ha s e xte nsive e xpe rie nc e in inte rna tio na l b a nking a nd c o mme rc e . He is Ge ne ra l Ma na g e r a nd Dire c to r o f the Ho ng Ko ng Pa rkvie w

Gro up L td a nd is a Ce rtifie d Ac c o unta nt.

Ala n Johnson | Non- E xe c utive Dire c tor

• Mr. Jo hnso n ha s o ve r 30 ye a rs’ o il ind ustry e xpe rie nc e pa rtic ula rly in ma na g e me nt a nd o pe ra tio ns in Afric a , Russia a nd China . He wa s Chie f

Ope ra tio n Offic e r fo r the Cluff Gro up o f Co mpa nie s 1996-2000.

Pe te r Ke lty | Non- E xe c utive Dire c tor

• Mr. K

e lty ha s e xte nsive e xpe rie nc e in re struc turing a nd fina nc ing ma jo r Asia n re g io na l c o rpo ra tio ns a s we ll a s a dviso ry wo rk fo r E uro pe a n a nd US multi-na tio na ls. Mr. K e lty is a Ce rtifie d Pub lic Ac c o unta nt a nd a me mb e r o f the I llino is Sta te Ba r. He ho lds a Ma ste rs in Busine ss Ad ministra tio n with a ma jo r in Ac c o unting a nd is a Do c to r o f Jurisprude nc e .

Vinc e nt L ie n | Non- E xe c utive Dire c tor

• Mr. L

ie n ha s 20 ye a rs’ e xpe rie nc e in b a nking , spe c ia lising in c o rpo ra te fina nc e a nd c a pita l ma na g e me nt in Asia , inc luding fo r Swiss Ba nk, Ba nke rs T rust a nd ABN AMRO. Mr. L ie n o b ta ine d a Ba c he lo r’ s de g re e in Busine ss Administra tio n fro m the Unive rsity o f Ne w Brunswic k in 1986.

T im Ba ldwin | Non- E xe c utive Dire c tor

• Mr. Ba ldwin is a pa rtne r o f Ge ne ra l E

nte rprise Ma na g e me nt Se rvic e s (HK ) L td., a priva te e q uity fund ma na g e me nt firm spe c ia lizing in inve stme nt in c o mpa nie s o pe ra ting in Asia in ne e d o f e q uity fo r stra te g ic g ro wth, a c q uisitio ns, ma rke t e xpa nsio n o r b a la nc e she e t re struc turing .

21 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Non- Boar d Se nior Manage me nt & T e c hnic al T e am

Stua rt Joyne r | Chie f F ina nc ia l Offic e r

• Mr. Jo yne r jo ine d in 2014 fro m So und Oil whe re he wa s CF

O a nd ha s 22 ye a rs' e xpe rie nc e in the o il a nd g a s se c to r. Prio r to industry, he spe nt 18 ye a rs in inve stme nt b a nking a t I nve ste c a nd Cre dit Suisse , whe re he he a de d se c to r c o ve ra g e a nd pre vio usly a t Mo rg a n Sta nle y, Dre sdne r K le inwo rt a nd Na tWe st Se c uritie s. He ho ld s the ACC A Diplo ma in Ac c o unting a nd F ina nc e a nd a n MA (Ho ns) in Ge rma n a nd F re nc h fro m the Unive rsity o f E dinb urg h in 1994.

Andre w Big g s | Se nior Vic e Pre side nt a nd Ge ne ra l Counse l

• Mr. Big g s jo ine d in 2007 a s Ge ne ra l Co unse l. Be twe e n 1981 a nd 1998, he wa s a pa rtne r with inte rna tio na l la w firm Ric ha rds Butle r, b o th in

Ho ng K

• ng a nd L
• ndo n. Mr. Big g s spe c ia lise d in c o rpo ra te fina nc e tra nsa c tio ns a nd wa s invo lve d in ma ny o f the e a rly H-sha re listing s o f

ma inla nd Chine se c o mp a nie s o n the HK Sto c k E xc ha ng e . I n 1998, Mr. Big g s jo ine d Pa rkvie w Gro up a s the Co rpo ra te Affa irs Dire c to r. He is q ua lifie d a s a so lic ito r in E ng la nd a nd in Ho ng K

• ng .

Ala n Soulsby | T e c hnic a l Dire c tor

• Mr. So ulsb y jo ine d in 1994 a s T

e c hnic a l Dire c to r a nd wa s re spo nsib le fo r the initia l b lo c k se le c tio n a nd the e xplo ra tio n pro g ra mme whic h le d to the L S36-1 disc o ve ry a nd o ng o ing e va lua tio n wo rk. He ha s ha d a wide a nd va rie d c a re e r in the pe tro le um ind ustry with o ve r 35 ye a rs’ inte rna tio na l e xplo ra tio n e xpe rie nc e , inc luding ma na g ing E xplo ra tio n Co nsulta nts L

• td. fo r a numb e r o f ye a rs a nd ma na g ing ma ny la rg e

inte g ra te d e xplo ra tio n a nd e va lua tio n pro je c ts. He g ra d ua te d fro m Oxfo rd Unive rsity with a de g re e in Physic s in 1970 fo llo we d b y a Ma ste rs in Ge o physic s.

Bria n T hurle y | E & P Coordina tor

• Mr. T

hurle y jo ine d in 2014 to wo rk with Ala n So ulsb y to ma na g e the e xplo ra tio n pro g ra m a nd pro d uc tio n o f the L S36-1 g a s fie ld. He ha s o ve r 35 ye a rs’ G&G e xpe rie nc e in inte rna tio na l o il a nd g a s e xplo ra tio n a nd pro duc tio n pro je c ts inc lud ing I nte rna tio na l E xplo ra tio n Ma na g e r fo r Mo nume nt Oil a nd Ga s, te c hnic a l dire c to r fo r Burre n E ne rg y, a nd te c hnic a l a dviso r to Ba yfie ld E ne rg y. Mr. T hurle y g ra d ua te d fro m I mpe ria l Co lle g e , L

• ndo n.

Ma rk Norma n | Proje c t Dire c tor a nd Ge ne ra l Ma na g e r, China Offic e

• Mr. No rma n jo ine d in 2012 a s Pro je c t Dire c to r fo r Prime line ’ s Sha ng ha i o ffic e a nd Vic e Pre side nt in the L

ishui Ope ra ting Co mp a ny - the

• pe ra to r o f the L

S36-1 d e ve lo pme nt - a nd in De c e mb e r 2014, he b e c a me Ge ne ra l Ma na g e r o f Prime line ’ s Sha ng ha i Offic e . He ha s o ve r 25 ye a rs’ e xpe rie nc e in pro je c t ma na g e me nt a nd ha s e xpe rtise in the de live ry o f c o mple x pro je c ts in the UKa nd wo rldwide .

22 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Cor por ate Str uc tur e

T ra d ing Symb o ls Outsta nd ing Sha re s F ully Dilute d Sha re s Ba la nc e She e t @ 31/ 12/ 16 Aud ito r Ma jo r sha re ho ld e rs PE H - T SX Ve nture E xc ha ng e 189.9M 193.6M Ne t a sse ts C$35m Pric e Wa te rho use Co o pe rs

• Mr. Vic to r Hwa ng (a ppro x. 66%)

F id e lity Wo rld wid e (a ppro x. 7%) GE MS (a ppro x. 6%) Ma na g e me nt (a ppro x. 2%)

Contac t

Dr Ming Wa ng Chie f E xe c utive Offic e r ming wa ng @ pe hi.c o m And re w Big g s Se nio r Vic e Pre sid e nt a nd re wb ig g s@ pe hi.c o m

23 Pr ime line Cor por a te Pr e se nta tion - Ma y 2017

Disc laime r

T his info rma tio n c o nta ins c e rta in fo rwa rd -lo o king sta te me nts within the me a ning o f a pplic a ble se c uritie s laws. F

• rwa rd -lo o king sta te me nts a re o fte n c ha ra c te rize d b y wo rd s suc h a s “pla n”, “e xpe c t”, “pro je c t”,

“inte nd ”, “b e lie ve ”, “a ntic ipa te ”, “e stima te ” a nd o the r simila r wo rd s, o r sta te me nts tha t c e rta in e ve nts “ma y” o r “will” o c c ur, inc luding witho ut limita tio n sta te me nts re la te d to inte nd e d wo rk pro g ra ms a nd a sso c ia te d time line s. F

• rwa rd -lo o king

sta te me nts a re b a se d

• n

the

• pinio ns

a nd e stima te s

• f

ma na g e me nt a t the d a te the sta te me nts a re ma d e a nd a re sub je c t to a va rie ty o f risks a nd unc e rta intie s a nd o the r fa c to rs tha t c o uld c a use a c tual e ve nts o r re sults to d iffe r ma te rially fro m tho se pro je c te d o r a ntic ipa te d in the fo rwa rd -lo o king sta te me nts. Suc h risks a nd unc e rta intie s inc lud e the inhe re nt risks invo lve d in the e xplo ra tio n fo r a nd d e ve lo pme nt o f c rud e o il a nd na tura l g a s o ffsho re , the unc e rta intie s invo lve d in inte rpre ting d rilling re sults a nd o the r g e o lo g ic a l a nd g e o physic a l d a ta , fluc tua ting e ne rg y pric e s, the p o ssib ility o f c o st o ve rruns o r o the r una ntic ipa te d c o sts o r d e la ys, the risks a sso c ia te d with ne g o tia ting with fo re ig n g o ve rnme nts a nd c o untry risk a sso c ia te d with c o nd uc ting o pe ra tio ns in the Pe o ple ’ s Re public

• f China a nd o the r fa c to rs, ma ny o f whic h a re b e yo nd the c o ntro l o f

Prime line E ne rg y Ho ld ing s I nc . (“Prime line ”). Prime line c a nno t a nd d o e s no t a ssure tha t a c tua l re sults will be c o nsiste nt with suc h fo rwa rd - lo o king sta te me nts. F

• rwa rd -lo o king

sta te me nts a re ma d e a s a t the d a te

• f pre pa ra tio n o f this

pre se nta tio n a nd a re sub je c t to c ha ng e . Prime line a ssume s no o blig a tio n to re vise o r upd a te the m to re fle c t ne w c irc umsta nc e s, e xc e pt a s re q uire d b y law. Pro spe c tive inve sto rs sho uld no t pla c e und ue re lia nc e o n fo rwa rd -lo o king sta te me nts.