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 was right, a large buyer waiting in the wings 4.3 million shares, thats why the price was rising whilst most trades were sales.

Looks like some more movement here this afternoon.

And another tick up!,i keep sniffing but cant smell OIL?,heavy selling at yet the sp is still on an upward trend,finally in profit,tempted to get out but greed tells me that there MUST be a soon to be revealed reason for the increase.

Hi capetown, only 20k's worth traded both ways so far today, so not that heavy trading as yet. I want another couple of pence at least, hold on in there. Good luck to all holders.

Long term 2/3 year hold for me dont see the point in selling for 20% profit.

mitzy, not a total sell out but as stated before, sell half for a free ride on the rest.

Sounds a good idea oily..

Getting close to a one bagger but hoping for 12p so will wait.

I expect this one to double in the coming year.


I know what I like and I like what I know.

An extremely blue day with this and GTL and four other decent showings today.

mitzy you changed your post 244.

Dont want to appear to greedy oily..!

Now that I've changed 246 none regulars will wonder what the hell are they on about.

oily;

they will find out in a while.

Why, what do you know, an inkling please, or estimate.

Nothing oily just feeling confident that 2007 will be a great year for Rift..cheers.

Strong buys and up 0.25p so far.

Guess +4mil sells yesterday had thee obvious effect on the sp yesterday,but lets remember the sp has come from a low of 3.75 to 7p,so long term i am holding and will add if iit falls further.

Yep I,m staying put for the ride.

Bought some this morning at 7.05p and 7.15p, still not showing on screen. I think this will move upwards again today but am concerned that trades are not been shown 'on screen' as they happen.