RIFT OIL PLC
PLACING AND ADMISSION TO AIM


Rift Oil plc ("Rift" or "the Company") has raised 2.3 million before expenses,
through a private placing of 24,080,000 new Ordinary Shares and a placing on
admission to the AIM Market ("AIM") of 22,200,000 new Ordinary Shares, both at
0.05 per share, giving the Company a market capitalisation at the placing price
of 17.3 million. The shares will begin trading on AIM today (19 April 2006).
Insinger de Beaufort is the Nominated Adviser and Broker to the Placing.

Rift was established in November 2004 to acquire a 65% interest in an oil and
gas exploration licence, the petroleum prospecting licence number 235 ("PPL 235
Licence"), in western Papua New Guinea. It acquired this interest in December
2004 through its subsidiary Foreland Oil Limited ("Foreland Oil"), in return for
a commitment to spend US$6 million (approximately 3.2 million) on the
exploration and development of PPL 235. The remaining 35% interest in the PPL
235 Licence is held by Trans-Orient Petroleum (PNG) Limited ("TOPPNG"), a wholly
owned subsidiary of Austral Pacific Energy Ltd ("Austral"), a Yukon
incorporated, oil exploration company operating in New Zealand whose shares are
publicly traded in the United States of America, Canada and New Zealand.

In January 2005, the Company and Austral entered into a joint venture operating
agreement to constitute the joint venture between the Company and Austral (the "
Joint Venture") in relation to the exploration activities to be undertaken
within PPL 235. These include a commitment to drill one exploration well, which
has already commenced as set out below.

Between December 2004 and March 2005, the Company raised a total of 4,505,000
at 0.25 per share from a range of private investors pursuant to an offer for
subscription to enable it to meet its initial obligations in relation to PPL
235, and as general working capital. On 10 April 2006 the Company raised an
additional aggregate sum of 1,204,000 by way of a private placing also at 0.05
per share.

The Joint Venture experienced difficulties in securing an appropriate rig in
order to begin the proposed drilling program on PPL 235. This was due to the
current high demand worldwide for the hire of drilling rigs. This led to the
decision by the Joint Venture, in late July 2005, to purchase the Coral Sea-1
Rig, a heli-transportable, free standing double for the purposes of the Joint
Venture.

PPL 235 covers a total area of approximately 2,910 sq km and lies within the
Foreland Basin, an area southwest of the Papua New Guinea highlands
approximately 500 km west from the capital, Port Moresby. The Company has chosen
the Douglas Prospect and the Puk Puk-1 (previously known as 'Kamu') Prospect
("the Prospects") as the initial targets on PPL 235.

Following extensive commissioning work, drilling on the Douglas Prospect, the
first prospect on PPL 235, commenced on 4 April 2006. The Company expects to
reach the planned total depth of around 2,000m after approximately 20 days of
drilling. This will be followed by a 4 day wireline logging program to determine
what further testwork may be required. Further analysis and interpretation of
the results will be necessary during early May before an announcement can be
made. The Company will then decide whether the results are sufficiently
encouraging to either:

(i) flow test the well;

(ii) drill further appraisal well(s);

(iii) shoot more seismic over the field; or

(iv) drill the Puk Puk-1 Prospect, also on PPL 235.

Rift has lodged an application, together with Austral, for a further PPL (APPL
261) covering an area of some 3,958 sq km immediately north of PPL 235. This
application is in the name of Foreland Oil (for and on behalf of Rift) as to
50%, and TOPPNG (for and on behalf of Austral) as to 50%.

Me too, let the buying begin

whats with the sudden late rise do you think? Up 14%

whats up with these? is it just nervous PI's not getting any news and bailing ?
anyones thoughts
Alex

no idea, glad I coincidentally sold these last week @ 3.25p cos I needed some readies.

must be dropping cos of lack of news.... but they did say that the best time for them to fulfill their 2D seismic committments was between Sep and Nov-06.... so the next drillhole will probably be sometime next year - at the earliest....

so perhaps as this one keeps drifting - it might be a nice time to get in...

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Rift Oil PLC
16 November 2006


For immediate release 16 November 2006



RIFT OIL PLC

('Rift' or the 'Company')



New Rift Oil Licence



Rift Oil Plc is pleased to announce that it has accepted the offer from the
Ministry of Petroleum and Energy in Papua New Guinea ('PNG') of exploration
licence PPL 261. This area covers approximately 4,000 sq km immediately north
of PPL 235 in which Rift Oil has a 65% interest. The ownership of the lease is
in the name of Foreland Oil Limited (for and on behalf of Rift Oil Plc) as to
50% and Trans-Orient Petroleum (PNG) Limited (for and on behalf of Austral) as
to 50%.



This increases the area in which Rift Oil has a significant interest to
approximately 7,000 sq km.



Chairman, Ian Gowrie-Smith, said: 'This is an important development for Rift
Oil. PPL 261 is on the migration pathway to PPL 235 in which we discovered
potentially significant reserves of gas with Douglas-1. The granting of this new
licence materially increases our acreage in this new gas province.'



Ends



Contacts:
Rift Oil plc 020 7340 9970
David Lees, Finance Director

Buchanan Communications 020 7466 5000
Tim Anderson



Notes to the Editors



Rift listed in London on the AIM market, floating on the 19th April 2006.



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




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





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2006 MoneyAM

Elsewhere, Rift Oil edged up 0.13 to 3.25 as traders responded positively to the appointment of Dr David John Bennett as a non-executive director. Bennett is currently a director of Tiger Petroleum (Australia) and TransOrient Petroleum (Canada). newsdesk@afxnews.com fjb/vjt

Over 1/2 million buys no sells and up a whole 0.12p!

Copied some interesting links here for people to peruse;

Exxon looking at feasibility of LNG plant in PNG

http://www.bloomberg.com/apps/news?pid=20601072&sid=acVsv_wAXJHA&refer=energy

Alternative options for Douglas Gas find discussed here

http://www.austral-pacific.com/ir-reports/Austral_Report_25Aug06.pdf

http://www.wallstreetreporter.com/profile.php?id=21441#

Good strong finish so have to wonder if possible news of the seismic report has leaked ?

Chairman's Statement



We have continued to make substantial progress during the brief period since I
wrote my last report to shareholders in the Annual Report on 26 September 2006.
Having completed significant new work in PPL 235 by drilling the Douglas well
and acquiring seismic data, we now will spend time analysing and using that
information to define our way forward in that Licence.



We have received notification from the Government of Papua New Guinea that our
application for PPL 261 (with Austral Pacific 50/50) was successful.



Prior to Christmas we expect the processing results of 54km of new seismic data.
This will be used to define appraisal well targets on the Douglas field and also
to more tightly define the Puk Puk target, which is a separate structure to
Douglas within PPL 235.



The study, targeted at defining the commercialisation strategy for the gas
discovered by the Douglas 1 well on PPL235, is also being completed prior to
Christmas; we are working closely with consultants to ensure that this study is
thorough and conclusive. Once this is available we will review the future
involvement and strategy for the Coral Sea Rig which we own with Austral (65%/
35%).



We recently announced that we have strengthened the Board of Directors by
recruiting Dr David Bennett. In addition to being the former CEO of Austral
Pacific, David has over 25 years experience in oil and gas, mostly in PNG and
New Zealand. His assistance in defining and activating the future of Rift has
already been felt and we look forward to working with him in the future.





IAN GOWRIE-SMITH

Chairman

This news, once received into the market, will be the driver for RIFT

LONDON (AFX) - Rift Oil PLC posted a widening in pretax loss for the first
half and said it is now waiting for processing results from 54 km of seismic
data and a study defining commercialisation strategy for gas discovery at its
Douglas 1 well in Papua New Guinea.
The oil and gas exploration company with assets in Papua New Guinea said its
first-half pretax loss widened to 48,000 stg from a loss of 36,000 stg in the
year-earlier period. It had no turnover in either period.
Rift Oil said processing results of new seismic data from Douglas 1,
expected before Dec 25, will be used to define appraisal well targets on the
Douglas field and also to more tightly define the Puk Puk target, which is a
separate structure to Douglas within PPL 235.

Someone had to pay over the odds on that last trade.

Back at rates when I first purchased with still more interest I hope!

I look at this as a great bet with 3p as the lowest low and a possible high of 300p.. its a no loser bet on them finding plenty of oil iin PNG.

http://www.postcourier.com.pg/20061227/business01.htm

Other companies getting interested in Papua.

8% increase today with zero trades, what's all that about? Finalised development strategy to be released soon maybe?

Same again today,news must be on the way!

300p within 18 months.

How do you justify that statement?

Find out tomorrow.