Preliminary Announcement

Asia Energy PLC
23 November 2006

                           ASIA ENERGY PLC (AIM: AEN)

                    PRELIMINARY ANNOUNCEMENT OF THE RESULTS
                        FOR THE YEAR ENDED 30 JUNE 2006

The year was undoubtedly marred by the tragic events of 26 August 2006 and the
development of the Phulbari Coal Project being delayed by the Government's
failure to approve its proposed new Coal Policy and the Scheme of Development.
Despite these setbacks, solid achievements were made.

The key events and milestones impacting ASIA ENERGY PLC and its' Phulbari Coal
prospect for the last year and to date can be summarised as follows:

•        572 million tonne high quality Coal Resource defined to JORC code with
         93% Measured and Indicated
•        Environmental Clearance for open pit mine approved by Government of
         Bangladesh in September 2005 (application for renewal lodged September 
         2006)
•        Feasibility Study and Scheme of Development lodged with the Government
         of Bangladesh in October 2005
•        Power station proposal lodged with the Government of Bangladesh in
         October 2005
•        US$52 million raised in November 2005 for initial development
         activities
•        Definitive Feasibility Study completed May 2006
•        Protests organised by groups external to Phulbari against open pit
         mining and resettlement occurred on 26 August 2006 in Phulbari
•        Shares suspended from trading 31 August 2006 - 6 October 2006
•        Loss for the year ended 30 June 2006 £520,000
•        Cash held at 30 June 2006 was £28 million, and at 31 October 2006 was
         £26 million.
•        Scheme of Development approval remains outstanding

The Annual General Meeting is scheduled to be held on 10 January, 2007. The
notice to shareholders, Annual Report and full financial statements will be
forwarded in due course.

Also attached below are the Profit and Loss, Balance Sheet and Cashflow audited
by E&Y.


For further information:

Stephen Bywater, Chief Executive                                   Justine Howarth, Cathy Malins
[e-mail]                                      Parkgreen Communications

Graham Taggart, Finance Director                                   Tel: [phone]
[e-mail]                                     [e-mail]
                                                                   [e-mail]

Asia Energy PLC
Tel: [phone], Fax: [phone]
[e-mail]; www.asia-energy.com



                              ASIA ENERGY PLC

                         GROUP PROFIT AND LOSS ACCOUNT

                        FOR THE YEAR ENDED 30 JUNE 2006


                                                                                             30 June         30 June
                                                                                                2006            2005
                                                                                              £000's          £000's

Administrative expenses                                                                        1,338           1,329

Group operating loss                                                                         (1,338)         (1,329)

Group operating loss and loss on ordinary activities before interest
and taxation                                                                                 (1,338)         (1,329)

Interest receivable                                                                              817             448
Loss on ordinary activities before taxation                                                    (521)           (881)

Tax benefit on loss on ordinary activities                                                         1               -
Loss on ordinary activities after taxation                                                     (520)           (881)

Loss for the financial year attributable to members of the parent
company                                                                                        (520)           (881)

Retained loss for the period                                                                   (520)           (881)

Basic loss per share (pence)                                                                  (1.2)p          (2.3)p
Diluted loss per share (pence)                                                                (1.2)p          (2.3)p



The above results relate solely to continuing operating activities of the Group.




                  GROUP STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
                        FOR THE YEAR ENDED 30 JUNE 2006

                                                                                    30 June         30 June
                                                                                       2006            2005
                                                                                     £000's          £000's

Loss for the financial year attributable to members of the parent company             (520)          (881)

Total recognised losses relating to the period                                        (520)          (881)
                                                                                                      


                                 ASIA ENERGY PLC

                              GROUP BALANCE SHEET

                               AS AT 30 JUNE 2006


                                                                                  30 June          30 June
                                                                                     2006             2005
                                                                                   £000's           £000's
Fixed assets
Intangible assets                                                                  17,894           10,287
Tangible assets                                                                       343              361
                                                                                   18,237           10,648
Current assets
Debtors                                                                               155              222
Deferred tax asset                                                                      1                -
Current asset investments                                                              46               15
Cash at bank and in hand                                                           28,083            5,643
                                                                                   28,285            5,880

Creditors                                                                           (468)          (1,180)

Net current assets                                                                 27,817            4,700

Total assets less current liabilities                                              46,054           15,348


Net assets                                                                         46,054           15,348


Capital and reserves
Called up share capital account                                                     4,877            4,001
Share premium account                                                              42,664           12,624
Other reserves account                                                                310                -
Profit and loss account                                                           (1,797)          (1,277)

Equity shareholders' funds                                                         46,054           15,348


                                ASIA ENERGY PLC

                         GROUP STATEMENT OF CASH FLOWS

                        FOR THE YEAR ENDED 30 JUNE 2006

                                                                                  30 June         30 June
                                                                                     2006            2005
                                                                                   £000's          £000's

Net cash outflow from operating activities                                        (1,140)         (1,274)

Returns on investment and servicing of finance
Interest received                                                                     817             493

Taxation                                                                                -               -

Capital expenditure and financial investment
Payments to acquire intangible fixed assets                                       (7,680)         (7,269)
Payments to acquire tangible fixed assets                                           (124)           (257)
Payments for security deposits                                                       (31)             (7)

Net cash outflow before management of liquid resources and
financing                                                                         (8,158)         (8,314)
                                                                                 
Management of liquid resources
Decrease in short term deposits                                                         -          11,000

Financing
Issue of ordinary share capital                                                    31,807           1,806
Share issue costs                                                                 (1,209)            (15)
                                                                                   30,598          12,791

Increase in cash                                                                   22,440           4,477



            RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS

                                                                                   30 June         30 June
                                                                                      2006            2005
                                                                                    £000's          £000's

Increase in funds                                                                   22,440           4,477
(Decrease)/Increase in short term deposits                                               -        (11,000)

Change in net funds resulting from cash flows                                       22,440         (6,523)

Movement in net funds                                                               22,440         (6,523)

Net funds at beginning of the year                                                   5,643          12,166

Net funds at end of the year                                                        28,083           5,643





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