Issue of Equity

Asia Energy PLC
19 April 2004

                                Asia Energy PLC



                                Issue of Equity





19 April 2004



The directors of Asia Energy PLC ('the Company') have today allotted 3,642,987
new ordinary shares in the Company at a price of 75p raising £2,732,240.  These
new shares were allotted to L-R Global Partners LP and L-R Global Fund Limited.



The funds will be utilised in activities of the Company in relation to the
Phulbari Energy Project.



As a result of this issue, L-R Global holds 3,642,987 ordinary shares which
represent 9.69 % of the issued capital of the Company.



Application has been made for the new shares to be admitted to trading on the
Alternative Investment Market of the London Stock Exchange.  Trading in these
new shares is expected to commence on 23 April 2004.




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
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[e-mail]







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