Grant of Options

Alkane Energy plc

("Alkane" or the "Company")

Grant of Options

Alkane Energy plc announces that on 05th 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:

These options are exercisable after three years from the date of this grant for a period of 7 years between 05th May 2013 and 05th 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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