07/30/2010 | Press release

POSTPONEMENT OF BOARD MEETING AND SUSPENSION OF TRADING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no
responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the
whole or any part of the contents of this announcement.




                         PetroAsian Energy Holdings Limited
                                      
                           (incorporated in the Cayman Islands with limited liability)
                                     (Stock code: 850 & Warrant code: 344)


                            POSTPO EME T OF BOARD MEETI G
                                                     A D
                                       SUSPE SIO OF TRADI G

Reference is made to the announcement of PetroAsian Energy Holdings Limited (the
"Company") dated 19 July 2010 in relation to the date of the meeting (the "Board
Meeting") of the board (the "Board") of directors of the Company to be held to approve,
inter alia, the announcement of the final results of the Company and its subsidiaries for the
year ended 31 March 2010 for publication, and recommendation of final dividends, if any.

The Board wishes to inform the shareholders (the "Shareholder") of the Company that the
Board Meeting, which was originally scheduled to be held on 29 July 2010, has been
postponed to be held on or before 10 August 2010. The Company will notify The Stock
Exchange of Hong Kong Limited (the "Stock Exchange") and the Shareholders in
accordance with the requirements of the Rules Governing the Listing of Securities on the
Stock Exchange once the date of the rescheduled Board Meeting is fixed.

At the request of the Company, trading in the shares and warrants of the Company on the
Stock Exchange will be suspended with effect from 9:30 a.m. on 30 July 2010 pending the
release of annual results announcement for the year ended 31 March 2010 and clarification
of certain audit issues of the joint auditors of the Company which could be price-sensitive in
nature.

                                                                    By order of the Board
                                                         PetroAsian Energy Holdings Limited
                                                                            Poon Sum
                                                                            Chairman
Hong Kong, 30 July 2010

As at the date of this announcement, the Board comprises (i) three executive directors, namely Mr. Poon Sum,
Mr. Wong Kwok Leung and Mr. Poon Wai Kong; and (ii) three independent non-executive directors, namely Mr
Chan Kam Ching, Paul, Mr. Chan Shu Kin and Cheung Kwan Hung.

The directors of the Company jointly and severally accept full responsibility for the accuracy of the information
contained in this announcement and confirm, having made all reasonable enquires, that to the best of their
knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration
and there are no other facts not contained in this announcement, the omission of which would make any
statements in this announcement misleading.