Issuance of Ordinary Shares

RNS Number:7815J
Prometheus Energy Co
12 December 2007


FOR IMMEDIATE RELEASE

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

December 12, 2007

                          Issuance of Ordinary Shares


Prometheus Energy Company, an alternative and renewable energy company, today
announces that  the Company issued and  allotted, conditional on admission,
203,030 ordinary shares of nil nominal  value in the Company. Application has
been made to have the shares admitted to trading on AIM, with  dealings expected
to commence on 18 December 2007.

The shares were issued pursuant to:

     *    59,945 shares for exercise of stock options
     *    89,285 shares to Stanislas Yassukovich, Chairman of Prometheus, as per
          agreed stock compensation for his Board fees. Following the issue, Mr          
          Yassukovich holds 89,285 shares in the Company.
     *    53,800 shares to a former service provider pursuant to their service
          contract with the Company

The new shares will rank pari passu with the existing ordinary shares. 
Following the share issue,  the Company's outstanding issued share capital, less
shares held by the Company in treasury, will be 60,164,508 shares.

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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