Exercise of Options

Alkane Energy PLC
19 April 2007


ALKANE ENERGY PLC (the 'Company')


19 April 2007


EXERCISE OF OPTIONS


The Company announces that on 18 April 2007, following the exercise of share
options under the Company's Post Admission Share Option Plan, it has issued and
allotted 100,000 new ordinary shares of 0.5 pence each. The exercise price was
13.25p per share.


The issued ordinary share capital of the Company is now 91,826,924 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.


Contacts


Alkane Energy plc
Steve Goalby, Finance Director                 01623 827922


ENDS




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