Admission to AIM

Asia Energy PLC
19 April 2004

                  Asia Energy PLC - First Day Dealings on AIM

                                Asia Energy PLC

                                19th April 2004



      Asia Energy PLC commences trading on AIM after £11.2 million placing

Proceeds to conduct feasibility studies on coal resource within the Republic of
                                   Bangladesh



Asia Energy PLC (''Asia Energy' or 'the Company') began its first day of trading
today on the Alternative Investment Market (AIM: AEN).  The Company has
successfully raised £11.2 million via a share placing at 75p. WH Ireland is
acting as nominated adviser and broker to the Company.



Asia Energy is the 100% owner of the Phulbari Energy Project in north-east
Bangladesh. Since acquiring the project in 1998 from BHP Billiton, Asia Energy
has commissioned a series of independent technical studies which confirm the
economic viability of the project.  The current estimated in-situ coal resource
calculated according to the JORC Code is approximately 370 million tonnes ('mt
').



Depending inter alia on the results of feasibility studies that the Company
intends to conduct over the next two years, the Company plans, in time, to
establish a potential 9mt per annum open pit coal mine at Phulbari.  It is
intended that the coal produced will be sold to local and export markets but it
will be used primarily for the generation of electricity through the
establishment of a power station complex with a generating capacity of up to
2,500 MW.



The funds raised in the placing will enable the Directors to conduct, with the
use of expert advisers where appropriate, further feasibility studies prior to
submitting applications to the Government of Bangladesh for mine and power plant
development approvals.  These feasibility studies, which can be categorised into
Stage 1 (which has a minimum funding requirement of £5 million) and Stage 2, are
planned to take place over the next two years and may necessitate the raising of
further funds by the Group. They will include an assessment of mining,
infrastructure, transport and power generation options together with social,
environmental and project economics.  Initial site construction activities are
planned for 2006 to 2007 with a view to first coal production and power
generation in 2010.



The development of a major coal mine and base coal power station in this mainly
agricultural country would result in immediate and ongoing social and economic
benefits to the local, regional and national economies.  Bangladesh has one of
the lowest per capita energy consumptions in the world and suffers from
shortages of coal, energy and other industrial raw materials which are critical
to its long term economic development and growth.  The US Department of Energy
estimates that only 18% of the population of an estimated 130 million has access
to electricity with wood and other bio-mass generating over half of the
country's current energy supply.  The consumption of wood for fuel has
contributed to deforestation and other environmental problems in Bangladesh. In
addition, the World Bank has estimated that Bangladesh loses around $1 billion
per year due to power outages and unreliable energy supplies.



It is also anticipated that the project will produce a number of vital
co-products, including clay, sand and rock, all of which are in short supply in
Bangladesh, as well as an estimated 150 mt of fresh water per annum.  The
Directors consider the Bangladeshi authorities, including the Government, to be
very supportive of the Project, given the potential it offers to reduce the
country's reliance on existing energy sources for the production of electricity
supplies.



Speaking today of the Admission, Chris Eager, the Non-Executive Chairman said: '
The development of Phulbari can be seen as being central to helping Bangladesh
overcome its severe energy shortages and we are proud to be developing such an
important project.  The AIM flotation will serve to raise our profile within the
international financial community and give us leverage to raise more funds when
necessary to bring Phulbari to fruition.'




For further information:



David Lenigas, Executive Director - Technical    Cathy Malins
Asia Energy PLC                                  Parkgreen Communications
Tel: [phone]                        Tel: [phone]
                                                 [e-mail]



Philip Haydn-Slater
W.H. Ireland Limited
Tel: [phone]
[e-mail]


Key Statistics


Placing price                                                                                                 75p
Number of new Ordinary Shares being placed on behalf of the Company pursuant to the                    14,959,649
Placing
Number of Ordinary Shares in issue immediately following the Placing                                   33,959,651
Percentage of Enlarged Share Capital attributable to the Placing                                  44.05 per cent.
Market Capitalisation of the Company at the Placing Price on Admission                             £25.47 million
Gross proceeds of the Placing                                                                      £11.22 million
Estimated net proceeds of the Placing receivable by the Company                                    £10.42 million





Board of Directors



Christopher Eager, Non-Executive Chairman, age 40



Previously with NM Rothschild & Sons, mining financiers in Australia, Chris
holds a Bachelor of Mining Engineering and an MBA (ISG Paris). He has been
involved in numerous debt and equity financings as principal and as banker and
is currently the chief executive officer of the AIM quoted company Monterrico
Metals plc.



Laith Reynolds, Executive Director and Chief Executive Officer, Bangladesh
Operations, age 63



With 30 years worldwide resource industry experience and a founder of Canadian
Coal Co (which undertook the consolidation of NE British Columbian Coalfields),
Laith is currently a non-executive director of Deepgreen. Laith will be based in
Bangladesh and committed to managing the senior governmental, technical and
facilitation issues of the Project.



David Lenigas, Executive Director - Technical, age 42



David holds a Bachelor of Applied Science (Mining Engineering) and has 23 years
of international resource industry experience covering the gold, coal, diamond
and base metal sectors. David was formerly the managing director of the Emperor
Gold Mines in Fiji and has served as managing director and chief executive of
numerous other resource companies. Currently he is the mining manager for
Cambrian Mining Plc, overseeing the development of their mining projects around
the world including the Project. He is also the president of Deepgreen West
Virginia Inc, a coal producer in the United States of America. David will be
responsible for co-ordination of the technical and corporate aspects of the
Group. David is also a director of River Diamonds  Limited and of BM Diamondcorp
Inc.



Michael Frayne, Executive Director - Commercial, age 36



Michael has 14 years resource industry experience. Michael has worked for Ernst
& Young, Great Central Mines Group (now Newmont) and Anaconda Nickel Ltd (now
Minaera Resources). A chartered accountant and geologist, he has held senior
finance positions in two Australian Stock Exchange listed and one AIM quoted
resource companies with key roles in fundraising and large scale project
feasibility studies. Currently a director of mining consulting group Resource &
Capital Management Pty Limited and General Manager - Commercial for Eureka
Mining Plc, Michael will assist in the co-ordination of the commercial and
technical aspects of the Group.



Jonathan Malins, Non-Executive Finance Director, age 56



Jo Malins qualified as a chartered accountant in the early 1970s. After
qualification he founded his own accountancy firm and until 1982 was in
practice. His subsequent career included a financial directorship of a large
Middle Eastern based project management company and in 1986 he became chief
executive of Telfos Plc, a listed engineering company. From 1993 to date, he has
run his own coal processing equipment supply company and from 1998 to 2001 was
managing director of Thurloe Corporate Finance (UK) Limited. Currently he is a
nonexecutive director of OreVest Plc, a mining investment company which is
quoted on OFEX, as well as an executive director of Cambrian Mining Plc, which
is quoted on AIM.




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