Transfer of Treasury Shares

RNS Number:1576I
Prometheus Energy Co
21 November 2007



FOR IMMEDIATE RELEASE



                           Prometheus Energy Company
                        ("Prometheus" or the "Company")

November 21, 2007

                           Transfer of Treasury Shares

Prometheus Energy Company, an alternative and renewable energy company, today
announces that, on November 1, 2007, it  reacquired 1,285,716 ordinary shares in
settlement of certain disputes.  Of those ordinary shares in treasury, 
1,285,000 have been transferred from treasury shares for the purpose of
satisfying certain obligations of the Company.

Following the above transfer of treasury shares, the Company holds 716 Ordinary
shares in treasury.

The total number of ordinary shares in issue (excluding shares held as treasury
shares) is 59,961,478.


ENDS


This press release does not constitute an offer for the sale of securities in
the United States. Prometheus' securities are restricted under US securities
laws and may not be offered or sold in the United States absent a registration
statement or a valid exemption from registration.



For further information:

Prometheus Energy Company                               +1 206 267 0800
Kirt Montague (Chief Executive Officer)
Jeff Spencer (Chief Financial Officer)

Jefferies International Limited                         +44 20 7029 8000
Charles Cameron
Oliver Griffiths

Cubitt Consulting                                       +44 20 7367 5100
Simon Brocklebank- Fowler
Michael Henman
Allison Reid



Notes to Editors


Prometheus Energy Company is a public corporation with its shares traded on the
London Stock Exchange's AIM market. It is headquartered in Seattle, Washington.
Prometheus is a global alternative and renewable fuel company, specialising in
the production, distribution, and sale of liquid natural gas (LNG) from low-cost
waste and stranded sources of methane. The Company is an emerging leader in
distributed fuel production, integrating small-scale purification and
liquefaction systems that generate fuel near the end-user. For more information
concerning Prometheus please contact us at (206) 267-0800 or visit
www.Prometheus-Energy.com.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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