Issue of Equity

Asia Energy PLC
18 November 2004


                                ASIA ENERGY PLC

                                ISSUE OF EQUITY


18 November 2004


Asia Energy PLC ('the Company'), the 100% owner of the Phulbari Energy Project
in north-west Bangladesh, today announces that it has issued and allotted
250,000 new Ordinary Shares of 10p each, at a price of 75p, pursuant to an
exercise of warrants.  In addition, a further 3,000 new Ordinary Shares were
today issued and allotted, at a price of 75p,  pursuant to an exercise of an
option.


The new Ordinary Shares will rank pari passu with the existing Ordinary Shares
of 10p each in the Company and trading of these shares on AIM is expected to
commence on 24th November 2004.


The total number of Ordinary Shares in issue following this issue is 38,270,638.



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