Director/PDMR Shareholding

Alkane Energy PLC
19 July 2006




ALKANE ENERGY PLC ('the Company')


19 July 2006



EXERCISE OF OPTIONS AND DIRECTOR SHAREHOLDING

The Company announces that today, following the exercise of share options under
the Company's Sharesave 2003 share option plan, it has issued and allotted 
308,151 new ordinary shares of 0.5 pence each respectively. The exercise price 
was 9.2p per share.

The issued ordinary share capital of the Company is now 91,726,924 ordinary
shares of 0.5 pence each.

Application will be made for the new ordinary shares to be admitted to AIM as
soon as practicable.

As part of this exercise of options, Stephen Goalby, a director of the Company,
has purchased 102,717 shares at a price of 9.2p per share.

Following this purchase Stephen Goalby currently has a beneficial interest in
502,717 ordinary shares in the Company representing 0.55 per cent of the current
issued share capital of the Company.




ENDS


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