Director Shareholding

Alkane Energy PLC
24 March 2004


Immediate Release                                                  24 March 2004

                         ALKANE ENERGY PLC ('the Company')

                             DIRECTOR SHAREHOLDING


The Company was notified today that Sir David White, a director of the Company,
has today sold 60,000 ordinary shares at a price of 12.5p per share.  The shares
were jointly held with his wife Lady White and were registered in the name of RC
Greig Nominees.

Following this sale Sir David and Lady White now have no beneficial interest in
ordinary shares in the Company.

For further information:


Alkane Energy plc
Steve Goalby, Finance Director                       01623 827927

Buchanan Communications
Sophie Morton/Ben Willey                             020 7466 5000


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