Asia Energy PLC
7 June 2004
ASIA ENERGY PLC
APPOINTMENT OF JOINT MANAGING DIRECTORS
The Directors of Asia Energy PLC ('Asia Energy' or 'the Company') (AIM: AEN)
advise that Mr Michael Frayne and Mr David Lenigas have been appointed as Joint
Managing Directors of the Company.
Messrs Frayne and Lenigas are already executive directors of Asia Energy and
were actively involved in the recent flotation of the Company on AIM in April
2004.
For further information:
Michael Frayne, Joint Managing Director Cathy Malins
David Lenigas, Joint Managing Director Parkgreen Communications
Asia Energy PLC Tel +44 (0)20 7493 3713
Tel: +44 (0) 20 7409 0890 cathy.malins@parkgreenmedia.com
info@asia-energy.com
NOTES TO EDITORS
Asia Energy is the 100% owner of the Phulbari Energy Project in north-west
Bangladesh, which contains a coal basin with over 400 million tonnes (Mt) of
resources, of which a current estimated in-situ coal resource is calculated
according to the JORC Code to be 370Mt. Asia Energy has development agreements
in place with the Government of Bangladesh for the development and exploitation
of this major asset.
The Company plans in time to establish a potential 9Mt per annum coal mine at
Phulbari to sell coal to local and export markets but primarily to supply a
proposed power station complex with an intended generating capacity of up to
2,500 mega watts.
The development of a major coal mine and coal fired power station complex in
this mainly agricultural country would result in immediate and ongoing social
and economic benefits to the local, regional and national economies. The US
Department of Energy estimates that only 18% of the population of an estimated
130 million has access to electricity with wood and other bio-mass generating
over half of the country's current energy supply. The consumption of wood for
fuel has contributed to deforestation and other environmental problems in
Bangladesh. In addition, the World Bank has estimated that Bangladesh loses
around $1 billion per year due to power outages and unreliable energy supplies.
This information is provided by RNS
The company news service from the London Stock Exchange