Exercise of Options

Alkane Energy PLC
24 November 2005


ALKANE ENERGY PLC ('the Company')


24 November 2005


EXERCISE OF OPTIONS


The Company announces that today, following the exercise of share options under
an individual share option plan granted on 7 November 2000, it has issued and
allotted 100,000 new ordinary shares of 0.5 pence each respectively.  The
exercise price was 17.5p per share.


The issued ordinary share capital of the Company is now 91,257,143 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.


ENDS







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