Exercise of Options

Alkane Energy PLC
16 April 2008

Alkane Energy plc (the 'Company')


16 April 2008


Exercise of Options


Alkane Energy plc announces that following an exercise of options today by David
Oldham, Technical Director, at a price of 9.2 pence per ordinary share, the
Company issued and allotted 178,532 new ordinary shares of 0.5 pence each 
('Ordinary Shares').


As a result of this transaction, Mr Oldham, is now interested in 1,827,132
Ordinary Shares, representing 1.98% of the issued share capital of the Company.


Alkane Energy plc's capital now consists of 92,105,456 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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