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BRIEF-Primeline Announces Operational And Arbitration Update And Bank Loan Default – Operations To Continue

Published 2019-05-21, 02:48 p/m
Updated 2019-05-21, 02:50 p/m
© Reuters.  BRIEF-Primeline Announces Operational And Arbitration Update And Bank Loan Default – Operations To Continue

May 21 (Reuters) - Primeline Energy Holdings Inc PEH.V :

* PRIMELINE ANNOUNCES OPERATIONAL AND ARBITRATION UPDATE AND BANK LOAN DEFAULT – OPERATIONS TO CONTINUE

* PRIMELINE ENERGY HOLDINGS INC - WILL CONTINUE TO URGE CCL TO INCREASE PRODUCTION.

* PRIMELINE ENERGY HOLDINGS INC - WAS UNABLE TO EFFECT FULL REPAYMENT OF PRINCIPAL INSTALMENT DUE ON MAY 20 2019

* PRIMELINE ENERGY HOLDINGS INC - INTENDS TO MAINTAIN NORMAL OPERATIONS WHILST WAITING FOR CNOOC ARBITRATION AWARD

* PRIMELINE ENERGY- SYNDICATE BANKS HAVE CONFIRMED NOTWITHSTANDING DEFAULT, THEY WILL NOT TAKE ENFORCEMENT ACTION BUT WILL CONTINUE TO SUPPORT PRIMELINE

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