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%.

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.

Hi Mitzy, its tomorrow now, please please explain.

A lot of hot air ?

Someone mentioning a write up in IC today on AFN.

nakedfox
Rift Oil joined Aim via a placing at 5p in April 2006. Then, in June 2006, the company announced that it had discovered "potentially significant reserves of gas in a large structure with a maximum area of over 40 sq km".

So the Douglas-1 well on the two-thirds-owned PPL 235 land licence, 500 km west of Port Moresby, Papua New Guinea, was drilled down to 2,000 metres. Six months later, Rift announced that the 2006 seismic data had been processed and interpreted, and that it had received a 100-page field development options study. This study confirmed drilling locations on the northern sector of the Douglas-1 gasfield, but also identified the nearby Puk Puk prospect as being a valid exploration target "of good size". As a result, the 2007 drilling programme includes flow-testing Douglas-1, drilling an appraisal well on the same discovery, and an exploration well on Puk Puk. Chairman Ian Gowrie-Smith believes there is a "lot of gas down there" and, because of its relative proximity to Asian and Australian markets, it may be possible to commercialise the discovery independently of other proposed gas projects in Papua New Guinea.

Rift has also acquired a half-share in a second licence, PPL 261, immediately to the north of PPL 235. The licence area covers 4,000 sq km and increases the company's total acreage to 7,000 sq km. PPL 261 is said to be on the migration pathway to PPL 235.



--------------------------------------------------------------------------------
Ord price: 3.125p Market value: 11.1m
Touch: 3-3.75p 12-month High: 11.875p Low: 2.875p
Dividend yield: nil PE ratio: na
Net asset value: 3p Net cash: 670,000




--------------------------------------------------------------------------------
Half-year Pre-tax Earnings Dividend per
to End Sep profit (000) per share (p) share (p)

--------------------------------------------------------------------------------

2005 -6 -0.10 nil
2006 -48 -0.01 nil
% change - - -

--------------------------------------------------------------------------------





The share price has bounced about quite a bit since April's flotation. Nonetheless, the shares are a recovery buy at a depressed price of 3p.

Only another 296p to go..

Buy 2050 maybe we'll be there....

PNG-Australia Pipeline update. Looks like the way is clear for local LNG and petrochemical plant developments.


http://www.pngindustrynews.net/StoryView.asp?StoryID=72507

1 million buys, 20 thousand sells and static SP today so far. Anyone shed any light on why this hasn't moved upwards a tad?

Because they opened the spread to hide the rise.

Guess your right oily its a typical trick form the MM,s.

Morning all, looks more promising today, and a sea of blue on L2.

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Rift Oil PLC
12 February 2007


For immediate release 12 February 2007


RIFT OIL PLC

Share Placing Raises 1.425m


The Directors are pleased to announce that application will be made for
admission to trading on AIM for 47,500,000 new ordinary shares of 1p each, to be
allotted by way of subscription at 3p per share to raise 1,425,000. The new
shares are accompanied by warrants to subscribe for further shares, on the basis
of one warrant for every two new ordinary shares, exercisable at 5p per share
between one and five years from the date of issue. Admission is expected to take
place on 23 February 2007. The proceeds of the subscription will be applied
towards the Company's general working capital requirements.


For further information please contact:

Rift Oil PLC 020 73409970
David Lees, Finance Director

Buchanan Communications 020 7466 5000
Tim Anderson
Isabel Podda




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





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