Exercise of Options

Alkane Energy PLC
08 May 2008

Alkane Energy plc (the 'Company')

08 May 2008

Exercise of Options



The Company announces that, following an exercise of options today by three
employees under the Sharesave 2003 Share Option Plan, it has issued and allotted
499,890 ordinary shares of 0.5 pence each in the the Company ('Ordinary Shares')
at a price of 9.2 pence per Ordinary Share.



The Company's issued share capital now consists of 92,605,346 Ordinary Shares,
with voting rights. The Company does not hold any Ordinary Shares in Treasury.



An application will be made to the London Stock Exchange for the new Ordinary
Shares, which will rank pari passu with existing Ordinary Shares, to be admitted
to trading on AIM as soon as practicable.







Contacts:



Alkane Energy plc                                      01623 827 922
Steve Goalby

Brewin Dolphin Investment Banking                      0845 270 8610
Andrew Emmott



ENDS






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