Issue of Equity

Asia Energy PLC
20 May 2005


                                ASIA ENERGY PLC

                                ISSUE OF EQUITY

20 May 2005

Asia Energy PLC ('the Company'), the 100% owner of the Phulbari Energy Project
in north-west Bangladesh, today announces that pursuant to an exercise of
existing options, it has issued and allotted 473,000 new Ordinary Shares of 10p
each, at a price of 75p to various staff members under the terms of their
existing option deeds.

David Lenigas, a director of the Company, also exercised an option over 200,000
new Ordinary Shares of 10p each, at a price of 75p under his existing option
deed. Mr Lenigas now holds a beneficial interest in 300,000 Ordinary shares,
which represents 0.75% of the current issued capital of the Company.

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 27 May 2005.

The total number of Ordinary Shares in issue following this issue is 39,911,024.




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