PEC Prometheus Regs

RNS Number:0523N
Prometheus Energy Co
01 February 2008


FOR IMMEDIATE RELEASE



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

                            Operational Realignment
                     Resignation of Chief Financial Officer

1 February 2008

Prometheus Energy Company, an alternative and renewable energy company,
announces a realignment of its organisation as it moves from the technology
development stage of its growth to focusing on the full commercial operation of
its existing and its planned projects. The development reflects the recent
commercialisation of the world's first Landfill gas-to-LNG facility at the Frank
R. Bowerman Landfill in Orange County, California, the progress at its Lisbon,
Utah facility, which is due to enter commercial operations in April, 2008, and
progress on other projects in its development pipeline, including the Krupinski
Coal Mine in Poland and its project with SSA Marine in Long Beach, California.

As a result of the realignment, the Company has reduced its headcount by
approximately 25% and has consolidated its offices into a single central
location. These changes will result in significant and immediate savings to the
Company, as well as improved operational efficiency.

In addition, Jeff Spencer, the Company's Chief Financial Officer, has resigned,
effective February 1, 2008 to facilitate the restructuring. He is expected to 
remain with the Company in a consulting capacity for a transition period to 
assist in the completion of its audit and other related activities.

The process to identify a successor is underway. However, in the meantime, the
Board has already put in place robust interim arrangements to manage the
Company's financial reporting and controls. Thomas M. Carbone, currently a
Non-Executive Director, will assume day-to-day financial management
responsibilities for the Company. Mr. Carbone has been a member of the Board
since October, 2007 and has worked closely with the Company's senior management
for the last several months.

Kirt Montague, the Company's CEO, said: "The realignment of the business will
have the benefits of both increasing focus and of reducing costs as we move to
the next phase of our development.

"Our thanks go to Jeff Spencer for his hard work and for the contribution he has
made. He has our very best wishes for the future. Tom Carbone's knowledge of the
Company, his strong financial background and his broad expertise with a number
of companies in the renewable and distributed energy space, including Vestas
Wind Systems A/S and Wartsila Corp. will serve the Company well while we look
for a full time successor."



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)

Jefferies International Limited        +44 20 7029 8000
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 focused on the
idea of Enlightened EnergyTM, where sustainable and cleaner fuel in the form of
liquid natural gas (LNG) is made from waste sources of methane produced close to
where it will be used. The Company is an emerging leader in integrating
small-scale purification and liquefaction systems to produce LNG from sources
including landfill gas, stranded gas wells and coalbed/coalmine methane. 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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