Alkane Energy plc announced on 8 October 2007 that it was in talks regarding a potential offer for the Company. Following further discussions, it has not been possible to reach agreement on terms of a formal offer which the Board of Alkane feels adequately reflects the value of the Company and which it is able to recommend to shareholders. As a consequence, the Board of Alkane announces that all discussions relating to an offer have now ceased and that the Company is no longer in an Offer Period.
The Board of Alkane remains committed to continuing to grow power generation capacity and output from coal mine methane plants and is encouraged by the continuing strength of the wholesale electricity market.
The current financial year has started well and Alkane is trading in line with management expectations with contracted income extending well into 2009. Alkane will announce its preliminary results for the year ended 31 December 2007 on 19 March 2008.