8 October 2014

Alkane Energy plc

("Alkane" or "the Company")

Directors Dealing - Exercise of Options

Alkane Energy PLC (AIM: ALK) announces that it has issued 1,107,000 new ordinary shares of 0.5p each ("Ordinary Shares") following the exercise of share options, by Directors, under the Company's Employee Performance Share Plan.

Neil O'Brien, Chief Executive Officer, exercised 620,625 options at an exercise price of 0.5p per share from a share option agreement dated 2011. On 7 October 2014, Neil O'Brien sold 297,785 shares at a price of 35.76p per share in order to satisfy exercise costs and cover the tax liability associated with the option exercise. As a result of this, Neil O'Brien's interest in the company increased to 1,071,840 representing 0.73% of the total voting rights of the Company.

Steve Goalby, Finance Director, exercised 486,375 options at an exercise price of 0.5p per share from a share option agreement dated 2011. On 7 October 2014, Steve Goalby sold 223,731 shares at a price of 35.76p per share in order to satisfy exercise costs and cover the tax liability associated with the exercise of options. As a result of this, Steve Goalby's interest in the company increased to 963,361 representing 0.65% of the total voting rights of the Company.

Application has been made to the London Stock Exchange for the 1,107,000 Ordinary Shares issued pursuant to the option exercise to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8:00 a.m. on 13 October 2014. The Ordinary Shares shall rank pari passu with the existing ordinary shares in the Company.

Following Admission, the Company's enlarged issued share capital and total number of voting rights will be 147,566,501 Ordinary Shares. There are no shares held in treasury.

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