Anyone got any advice on RIFT.

I bought at 7p nearly 3 years ago. They subsequently went to 1.7p and are now back to 7p.
Are they worth holding or should I switch?

Hang in there drilling results from puk puk-1 should by next 2 weeks.

Excellent, another Rift thread.

what was wrong with the old thread?

I bought in @6.8p a few weeks ago and now hoping for news in the next few weeks!

Duplicate threads to be deleted, agree?

yep!

up date on rift.

I bought 6,000,000 of RIFT @ 1.7p, should I still hold or sell ?

:-) Mr GD, if you had 6M @1.7p you would not be on this bulletin board asking for advice.

Stay cool and have a good heart.

mrgregdavies
350m shares lol if you have these try selling.

I've heard a rumour that forthcoming drilling results are excellent. If you currently hold this stock then hold on for a decent uplift. Fnudementals are excellent and I predict an increase of 35-43% in the next Qtr.

Sounds good... I added last week. It was good that the sp held it's level in what was a disaster week for my whole portfolio.....be nice to see this do well but in the current market I'm not expecting any miracles!

i think others must have heard the rumour, ther wo,s a lot of big buys friday.

A friend of mine in the City is tipping RIFT for a major announcement in the next 2-3 weeks. If you have any spare after the recent selloff, fill your boots now.

"A major announcement".....good or bad? WOW what a tip!!

RNS Number : 8424A
Rift Oil PLC
07 August 2008





For immediate release


7 August 2008



Rift Oil PLC


RIFT UPDATES GAS POTENTIAL


Rift Oil PLC is pleased to provide an update to its announcement of 21 July regarding drilling for Puk Puk. The Company estimates that the potential mid case contingent resource for Puk Puk of 430 BCF and 8.5 MMB of condensate are approximately double pre-drilling estimates.




This estimate, together with the 250 BCF already identified on the Douglas and Langia structures, brings the total mid case contingent resource estimate of these structures alone to approximately 700 BCF without establishing additional reserves from further untested adjoining structures.




The upper case estimates would have these structures already potentially in excess of 1 TCF.



A 2D seismic programme totalling 210 km is now underway to assist in defining the size and extent of these structures and the adjoining structures, making projections of total field potential more easily calculable as well as identifying future drilling targets.

The testing programme for the Puk Puk-1 well has been redesigned to take account of the greater than anticipated hydrocarbon column intercepted in the well. Due to the greater complexity of the well completion and test programme, it has been rescheduled to commence in mid August, with the full testing programme to be completed by end September.




Chairman's comment

'The doubling of our estimates of contingent resource in Puk Puk confirms Rift's belief that at a minimum it can provide enough gas to commercially satisfy either Alcan or Flex LNG's requirements, or even both, subject to successful additional drilling.'

news out, is this the annoucement halifax, or is ther a better one to come.? thanks.

this is good news... still jam tomorrow but more jam !

10 bagger in time.

As per my post yesterday "A friend of mine in the City is tipping RIFT for a major announcement in the next 2-3 weeks. If you have any spare after the recent selloff, fill your boots now".

The above announcement is just a taster, expect 'The Big Deal' top be signed shortly ...

Stange stuff - just purchased two chunks of these this morning and they have both been listed as sells...........................

yes me two.

Rift Oil plc

('Rift')

Puk Puk Update




The Directors of Rift are delighted to provide the following update on testing at Puk Puk.

Testing commenced on 24 September 2008. During initial clean-up flow to flare, of the combined Toro and Lower Hedinia pay intervals, a calculated gas flow rate of 29.2 million cubic feet per day was achieved on a 64/64' choke, at a surface flowing pressure in excess of 1200 psi. A separate flow on the Lower Hedinia alone was measured at 20.85 mmcf/d on 48/64' choke, with a surface flowing pressure of 1732 psi.




The forward programme is to isolate and flow each of the Toro and Lower Hedinia through the separator equipment, followed by the clean up and separator flow test of the Upper Hedinia. Separator equipment is on site to provide a measure of the liquids yield of the gas, once flow rates have stabilised.




Ian Gowrie-Smith, Chairman, commented:

'We are very pleased with these initial flow rates, which are in line with what we expected from the well developed Toro reservoir. The Lower Hedinia rate from thinner sands is also highly encouraging. We look forward to reporting on the completed testing programme during October, at which point we will be able to give a fuller analysis.'




Peter Mikkelsen FGS, AAPG, as the qualified non-executive Director has reviewed this statement and authorised its release.

Bring back the good old Aim days : there were times when on good news this would have shot up to 9 or 10p this morning ...now the attitude is : Gas discovery so what ?...flow rates : not bothered !.

Guess its not good news.

surprised the sp hasn't tanked on this good news!....but give it time!

and go down it did!

However picked this up this AM the Finacial Times commented at the weekend that shares in Rift Oil (RIFT) had increased in value after the Company pointed out it was very pleased with initial testing at Puk Puk. Nevertheless, the price was 0.625p weaker at 5.00p following this press comment.

Starting to see really silly prices on Aim stocks now....but there you go...the market is the worst I have ever known....!.

Bought this today but I hope it would not continue to tank...

h98
we seem to have 2 threads on this.
not sure why.
regards
jkd

h98
just had a thought,
are you hedging?
long on this thread and short on the other?
regards
jkd

A 300k sell @4p .

going down to 3p this one.....at least

Hold in there peeps, I hold profit in shares and am expecting this one to fly once reserves are further proved up. Financing all done so its now a question of getting LNG to market which shouldn't take too long.

Sold off most of my holding... something not right here.

Agree, lack of news and progress being reported not the norm especially at times like these. When you say most of your holding I assume you also hold profit in shares.

sold at a loss explosive.

Unfortunate Mitzy, this would have to go bust for me to breakeven. Anyway time will tell and we'll see if news is forthcoming.

good luck lets see what happens.

Thankyou Mitzy

When news comes out , the sp could go up over 30% .

Over 30% from where? 3p or 10p or 20p.

It seems to me that no value whatsoever has been attributed to RIFT for both Douglas and Puk Puk. There is a massive area still to be explored with the potential to be as productive as both the aforementioned discoveries.

If these discoveries are so wothless, then why does my gas bill keep rising?

Someone somewhere has a lot to answer to.

For me, my money may as well be invested somewhere, and at the end of the day, I firmly believe that this stock has a future. Even if the wells are sold to the highest bidder and proceeds split between shareholders, I will make a profit.

Good luck to all.

oh dear.......going down quicker than i thought

Yes your right for once..lol.

cant fail i suppose predicting sp will go down.........dont tell darling to fart or the country might explode

What the hells wrong with this share.

its crap

All shares have been hammered...hang on in there... good level to buy more (imho)

comes a time when you say enough is enough. if you have cash you will clean up imo. all in the timing!.

Down for the second time in 2 days.. incredible.

It looks bad but hang on.... good time to get more (imho)

Mitzy
Back in this am.

good luck capetown the selling seems to have finished.

tempted.

Longterm,a steal.

Longterm yep should well be a steal as long as when they produce they can keep costs under control and gearing high. I wouldn't have thought this would be a problem as the resources are not located under water.

ex
You seem to be deramping all over the place apart from rift that you have a stake in have you got a sore head today.

Interesting, will it be a repeat buy on rumour sell on news though?

Good news ! I think....so what happens next & when ?

RNS Number : 8890F
Rift Oil PLC
15 October 2008



For immediate release
15 October 2008








Rift Oil plc

('Rift')







Puk Puk-1 - Rift flows gas at 71mmcf/d



Rift Oil PLC (AIM : RIFT), the oil and gas exploration company with assets in Papua New Guinea ('PNG') is delighted to announce that the tested flow rate from all three productive zones at Puk Puk-1 has been measured at 71 mmcf/d. This follows the previous advice of gas flow of 29.2 mmcf/d at the combined Toro and Lower Hedinia pay intervals. Additional tests on condensate levels and composition continue, with condensate levels appearing lower than earlier expectations.




Seismic testing over 210 km is now complete with encouraging early results.




During production testing of the Puk Puk-1 exploration well, hydrocarbon gas flowed at a combined rate from three gas bearing reservoirs of 71 million standard cubic feet of gas per day (mmcf/d). The rates from the individual reservoirs were separately tested and were restricted by downhole equipment constraints. The Toro Sands Reservoir tested at 29.5 mmcf/d with 1252 psi surface flowing pressure on a 64/64ths choke from 12 metres of perforations, the Upper Hedinia reservoir tested at 22.8 mmcf/d with 1634 psi surface flowing pressure on a 54/64ths choke from 7 metres of perforations, and the Lower Hedinia reservoir tested at 18.8 mmcf/d with 1931 psi surface flowing pressure on a 42/64ths choke from 11 metres of perforations.




Summary of Current Position




Rift is in discussions with a number of strategic partners to fund the continuing testing and pre-production expenses. As previously announced in September, heads of agreement have been signed with Flex LNG for gas sales to a floating liquefaction plant and preliminary discussions with Rio Tinto Alcan ('Alcan') have followed the signing of a Memorandum of Understanding between the companies in 2007.




Discussions with other potential partners are at a preliminary stage, but are encouraging.







Ian Gowrie-Smith, Chairman, commented:




'These results show the extent of our gas resources at Puk Puk-1 greatly exceeds our expectations. These flow rates give Rift added comfort that these discoveries can be successfully commercialised.'







Peter Mikkelsen FGS, AAPG, meets the criteria of a qualified person under the AIM guidance note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement.

very good news.

Sp not moving though, why!

I guess it still requires funding for the pipeline for the gas to be of any use and the amount of funding required and how they get it plus timescale for production may hold the sp back in the current climate, not to mention 50% profit for some this week, banking that kind of profit at moment is good.

Thats me out again mitzy,cant resist the profit,back in if it falls.

good luck capetowm.

Very good news...what happens ? it drops....you just can't win at the moment !.

More info here:-

http://www.oilvoice.com:80/n/Rift_Oil_Announces_Positive_Test_Results_From_Puk_Puk1_in_PNG/8b3f2b46.aspx

'Additional tests on condensate levels and composition continue, with condensate levels appearing lower than earlier expectations. '

Anybody know what 'condensate levels' are?

after this big find for a wee company, what price will the takeover be?.


15-18p mentioned on rival site. Or perhaps they will keep a stake and farmout a major % for a sizeable sum?.

mention in yesterdays ft positive.

get the feeling a deal isnt far off on this one. Farmout or Takeover?.

I think that condensate levels are "liquid concentrated gas"...fetches more than ordinairy gas...I might be mistaken though...might get papalpower to look in on this ...!.

moving up wont be long now.

RNS Number : 1368I
Rift Oil PLC
14 November 2008



For Immediate Release
14 November 2008








Rift Oil plc

('Rift' and or the 'Company')

Upgrade of Discoveries

& Commercialisation Update




New Structural Interpretation




Following recent press releases concerning the results of the drilling and successful testing of its Puk Puk-1 discovery, Rift is pleased to announce the conclusions of the new structural interpretation and resources estimate for PPL 235 after receipt of the processed 2D seismic lines from our 220 km acquisition programme this summer. This data was primarily designed to better delineate the undrilled prospects of Douglas North West (DNW) and Aiema, which lie adjacent to the Puk Puk and Douglas discoveries and to better define leads in the northern part of PPL 235.




Rift can report that seismic data of high quality showing very similar gas effects (dim spots and gas chimneys) has been obtained, resulting in an upgrade of the size of our three discoveries to 769 BCF in the P50 case from 688 BCF







The new mapping also confirms that the five prospects immediately adjacent to Rift's existing discoveries at Puk Puk-1, Douglas-1 and Langia-1. These are Dougla North West, Aiema, Puk Puk-2, Douglas North and Douglas North East which all show excellent gas effect and total an additional unrisked prospective resource potential of 772 BCF (P50). Douglas North West, in particular, appears to be potentially larger than either Douglas or Puk Puk and lies across the pathway of where gas from Puk Puk spills out towards Douglas. Additional prospectivity in the region of the border between our PPL 235 and 261 licences has further potential for 676 BCF (P50) prospective resource.



In summary, the board of Rift believes that the PPL 235 licence is now demonstrating the potential to hold contingent resources of > 2 TCF of gas. Finally the Company has received gas composition analysis of the Puk Puk testing, which demonstrates relatively low levels of liquids content and a nitrogen presence of 7-9.5% (depending on pay zone). As the latter is inert, there are no safety or corrosion implications, but [net] sales gas volumes may have to be adjusted downwards by that amount. The Company is happy that CO2 and H2S are insignificant in all three zones.






Commercialisation



The tripling of potential P50 resources from earlier estimates, together with the unknown potential of the adjoining PPL261, has caused the Company to re-evaluate the commercial alternatives available to it. Rift has decided to concentrate on commercialisation opportunities provided by LNG through a floating liquifaction plant as envisaged in the Heads of Agreement with FLEXLNG where potential annual offtakes of 100 BCF or greater are planned.

Rift is pleased to advise that it has entered into a further, and more defined, agreement with FLEXLNG to commission a pipeline study and further pre-feasibility studies. The results of this study are expected by February 2009.

The Company has also entered a formal process with its Nominated Adviser RBC Capital Markets and Sydney based RFC to establish appropriate commercial partnerships for the funding of future drilling and commercialisation of PPL235 and PPL261. The Company would like to complete five wells and flow tests in 2009.




Ian Gowrie-Smith, Chairman of Rift, commented :




'We are delighted with the continuing good news from the testing and development of our Papua New Guinean assets. Rift is confident that the flow test data it has just procured, along with the newly acquired seismic data, and the current reprocessing of PPL 261 seismic data will enable us to reach an agreement rapidly with a significant partner for appraisal and development funding.'




Peter Mikkelsen FGS, AAPG, meets the criteria of a qualified person under the AIM guidance note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement.

Good news roll on 20p next year when they announce a jv.

mitzy j/v partners will need deep pockets. Do you know how much a floating LNG liquefication plant would cost never mind to insure? The story is changing no more pipelines to aluminium plants in Australia?

Flex have 4 already.

Flex will be cheaper apparently so no need for Alcan and the pipeline.

Correction oily Flexlng has orders outstanding with Samsung to build 4 vessels the first of which is due for delivery in 2011.

Sorry halifax, I have re-read the LNG rns relating to Rift's agreement with FLEX. I missed the point at the time and you are correct in what you say about when the first of 4 floating liquification vessels will be ready.

The point that I was trying to make was that the cost of one of these vessels has no bearing on RIFT's financial resources, it is FLEXings responsibility, and them having a J/v with rift will help with any funding issues they may have had.

All in all, I don't see any long term problems for either company and am looking forward to how this one develops. I do hold and will continue to do so.

Yes it seems we will all have to be patient till at least 2011

It would appear that FLEX LNG have put an RNS about potential J/V off of PNG on their website dated tommorrow 19/11/2008. Good news sooner than expected I think.

FLEX have admitted by phone to someone on advfn, that they released a day early in error and have now amended the release date on their web site to today.

So an RNS is due tomorrow 19.11.2008 with reference to selecting a j/v partner, which would suggest more than one suitor to choose from, possibly french, and accelerating the program with regard to extraction of resource.

Oh and another thing, you have been able to buy at below the mid for most of the day.

Yes oily the RNS may be interesting perhaps Samsung can bring delivery forward so that we don't have to wait till 2011, although from the information on the Flexlng website it appears they may have commitments to Nigeria before Rift?