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Asia Energy PLC (GCM)

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Wednesday 14 September, 2005

Asia Energy PLC

Company Update

Asia Energy PLC
14 September 2005


Asia Energy plc ('Asia Energy' or 'the Company')


Company Update



Asia Energy announces that it has obtained Environmental Clearance for its open
pit coal mine at Phulbari in Northwest Bangladesh.


The Department of Environment of the Government of Bangladesh (GoB) formally
notified the Company's Dhaka-based subsidiary, Asia Energy Corporation
(Bangladesh) Pty Ltd., that it has approved the Environmental Impact Assessment
(EIA) report for the Project and awarded it Environmental Clearance.


'This approval underscores the quality of our preparation for the mine and
justifies the significant investment we have made to ensure that we are in a
position to manage all the necessary social and environmental issues,' said
David Lenigas, Asia Energy's Joint Managing Director. 'It is another major step
towards starting the mine.'


The 2,500-page EIA, which was submitted for approval at the end of July, set out
in detail how the social and environmental impacts of the open pit mine will be
managed to the highest national and international standards. It was the product
of 18 months' field research by some 300 Bangladeshi and international experts.


In the final stage of the approval process, Asia Energy plans to submit a Scheme
of Development to the GoB in early October. This will detail plans for mining
the 572 million tonne JORC compliant resource at Phulbari and for transporting
the coal to national and international markets.


The Company intends to issue 40,000 ordinary shares in the Company to key Asia
Energy staff under the Company's staff incentive scheme for achieving this
milestone.


14 September 2005


ENQUIRIES:


Asia Energy PLC
Michael Frayne, David Lenigas                         Tel: +44 (0) 20 7079 1798


Parkgreen Communications
Justine Howarth, Cathy Malins                          Tel: +44 (0) 20 7493 3713








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