Business
Appt of Jt.Managing Directors
Appt of Jt.Managing Directors.
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[{"type":"text","content":"\n Asia Energy PLC\n7 June 2004\n\n\n ASIA ENERGY PLC \n APPOINTMENT OF JOINT MANAGING DIRECTORS\n\n\nThe Directors of Asia Energy PLC ('Asia Energy' or 'the Company') (AIM: AEN)\nadvise that Mr Michael Frayne and Mr David Lenigas have been appointed as Joint\nManaging Directors of the Company.\n\nMessrs Frayne and Lenigas are already executive directors of Asia Energy and\nwere actively involved in the recent flotation of the Company on AIM in April\n2004. \n\n\nFor further information:\n\nMichael Frayne, Joint Managing Director Cathy Malins\nDavid Lenigas, Joint Managing Director Parkgreen Communications\nAsia Energy PLC Tel +44 (0)20 7493 3713\nTel: +44 (0) 20 7409 0890 [email protected]\[email protected]\n \n\nNOTES TO EDITORS\n\n\nAsia Energy is the 100% owner of the Phulbari Energy Project in north-west\nBangladesh, which contains a coal basin with over 400 million tonnes (Mt) of\nresources, of which a current estimated in-situ coal resource is calculated\naccording to the JORC Code to be 370Mt. Asia Energy has development agreements \nin place with the Government of Bangladesh for the development and exploitation \nof this major asset.\n\nThe Company plans in time to establish a potential 9Mt per annum coal mine at\nPhulbari to sell coal to local and export markets but primarily to supply a\nproposed power station complex with an intended generating capacity of up to\n2,500 mega watts.\n\nThe development of a major coal mine and coal fired power station complex in\nthis mainly agricultural country would result in immediate and ongoing social\nand economic benefits to the local, regional and national economies. The US\nDepartment of Energy estimates that only 18% of the population of an estimated\n130 million has access to electricity with wood and other bio-mass generating\nover half of the country's current energy supply. The consumption of wood for\nfuel has contributed to deforestation and other environmental problems in\nBangladesh. In addition, the World Bank has estimated that Bangladesh loses\naround $1 billion per year due to power outages and unreliable energy supplies.\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n\n \n ","length":2568,"tagName":"div"}]