GRANT OF SHARE OPTIONS

Alkane Energy PLC
08 April 2005


                               ALKANE ENERGY PLC

                               GRANT OF OPTIONS

8 April 2005
For immediate release

Alkane Energy plc ('the Company') announces that on 8 April 2005, under the
Company's Post Admission Share Option Plan, the following directors were granted
options to subscribe for new ordinary shares in the Company at an exercise price
of 12.75p per share, being the closing mid-market price on 7 April 2005.

                  Share options          Share options          Percentage of
                     granted on            outstanding           issued share
                   8 April 2005            (all Plans)                capital

W C Davies              100,000                542,800                   0.60%

D R Oldham              100,000                554,200                   0.62%

S V Goalby              300,000                498,000                   0.55%

      Total             500,000              1,595,000                   1.77%

The options granted on 8 April 2005 may normally be exercised between the third
and tenth anniversary of the date of grant, and are conditional upon achieving a
relative increase in the total shareholder return (TSR) of the Company compared
to that of AIM, according to the following scale:

Year ended                                    TSR relative            Cumulative
                                                increase                 award
                                                  target

31 December 2004                               No target                    50%

31 December 2006                                0% to 5%                    75%
                                                above 5%                   100%

                                    - ENDS -

For further information:

Alkane Energy plc
Steve Goalby, Finance Director 01623 827927

Buchanan Communications
Eric Burns 01943 883990



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