Grant of Options

RNS Number : 4161L

Alkane Energy PLC

06 May 2010

Alkane Energy plc

("Alkane" or the "Company")

Grant of Options

Alkane Energy plc announces that on 05^th May 2010 options were granted over a total of 173,685 ordinary shares of 0.5p each ("Shares") at an exercise price of 16.5p per share to the following directors:

Share options holding prior to the award

New share options granted

Share options holding after the award

Share options held as % of issued share capital

Neil O'Brien, Chief Executive

2,000,000

97,382

2,097,382

2.25%

Steve Goalby, Finance Director

498,000

76,303

574,303

0.62%

These options are exercisable after three years from the date of this grant for a period of 7 years between 05^th May 2013 and 05^th May 2020 under the unapproved part of the Post-Admission Share Option Plan. 50% of the options vest after three years with no conditions; 50% vest after three years subject to the Remuneration Committee being satisfied with the individual's performance.

Neil O'Brien's current shareholding is at 649,000 ordinary shares of 0.5p each, representing approximately 0.70 per cent. of the existing issued share capital.

Steve Goalby's current shareholding is at 502,717 ordinary shares of 0.5p each, representing approximately 0.54 per cent. of the existing issued share capital.

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