Asia Energy PLC
19 April 2004
ASIA ENERGY PLC
GOVERNMENT OF BANGLADESH GRANTS MINING LEASE FOR THE PHULBARI COAL PROJECT
19 April 2004
The Directors of Asia Energy PLC ('the Company' or 'Asia Energy') (AIM: AEN) are
pleased to advise that a major milestone has been achieved in Bangladesh towards
the development of the Company's Phulbari Energy Project with the Government of
Bangladesh granting a Mining Lease over Area B, which constitutes the majority
of the Phulbari coal deposit (1,921 hectares).
As noted in the Company's admission document dated 31 March 2004, the Company's
application for the Mining Lease had been placed on hold with the expectation
that it would be granted after the admission to trading of the Company's shares
on the Alternative Investment Market. Following such admission this morning,
the Mining Lease over Area B has now been granted for a period of thirty (30)
years with provision, under agreements between Asia Energy and the Bangladesh
Government, for extensions. The majority of Phulbari's 370 million tonnes of
high quality thermal coal are covered by the new Mining Lease.
As presaged in the Company's admission document dated 31 March 2004 and
following the granting of the Mining Lease in respect of Area B, Asia Energy has
now lodged applications with the Government for title conversion of its two
contiguous Prospecting Licences, Area G (1,447 hectares) and Area H (2,112
hectares), to Mining Leases.
David Lenigas, Executive Director - Technical Cathy Malins
Asia Energy PLC Parkgreen Communications
Tel: +44 (0) 207 409 0890 Tel: +44 (0) 207 493 3713
cathy.malins@parkgreenmedia.com
Philip Haydn-Slater
W.H. Ireland Limited
Tel: +44 (0) 207 397 3160
phs@wh-ireland.co.uk
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