GCM Resources Regulatory News (GCM)

29 Aug 2006 08:50

Asia Energy PLC29 August 2006 Asia Energy PLC says development of its Phulbari Coal Project remains on course Dhaka, 29 August 2006 - Asia Energy PLC ('Asia Energy', 'the company') saidtoday preparations for its Phulbari Coal Project in Northwest Bangladesh wouldcontinue in the aftermath of last weekend's violent protests. "We are continuing to work positively with the Government of Bangladesh to makethis project a success," said Asia Energy Chief Executive Steve Bywater. "TheGovernment has assured us that it remains committed to the project." The next steps in the process are the adoption of the Government's proposed newCoal Policy and finalisation of its contract with Asia Energy, leading toapproval of the Scheme of Development for the mine. The company has temporarily suspended its field operations in and aroundPhulbari, but remains in close communication with both central and localGovernment authorities. Ends For further information: Stephen BywaterChief Executive Tel: 020 7290 1630 Graham TaggartFinance Director Tel: 020 7290 1630 Cathy Malins or Annabel LeatherParkgreen Communications Tel: 020 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange