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%.

oil touched $84 and heading to $100 next year all good news for oilies and hopefully Rift should they discover any oil or condensate you never know.

noticed a few more buys and less sells recently could be a turning point in the recovery.

Mitzy,i think we are months away yet,but comfortable holding these,and will continue to add at these prices when funds permitt.

Agree capetown at least 2 months away but if they do have 130m bo at $100 a barrel thats a potential reserve of $13000 split 65/35 equates to at least $10000 . m.

Will hold.

Treading water this one but notice a couple of buys over the last days so perhaps the selling has stopped and people are getting back in again..dyor.

Down 5% on a bad day in the markets.

SP will drift downwards as long as there is no RNS.They should at the very least issue a quarterly operations update.

Agree with you halifax they keep us in the dark bad pr in my opinion.

I remember we were equally kep in the dark last time they went from 2.75---7.25,

Todays trading and that of late is TINY compared to shares in issue,it will be months yet before we see anything .

Theres gas there capetown theres no doubt but pi's want some action poor show on Rifts part..I'm not selling always going to be a long term hold forme.

No update suits me, these prices are very attractive

giveaway prices explosive.

I can see this drifting down to 2.75,and i will be adding.

Umm...somones buying,,

Calm down Mitzy,just one buy,loads of sells of late,loads of time to top up.

guess your right capetown...

Thats right theres no rush here, fingers crossed the bears are in full force early 2008 and prices hit real lows. We're far away from any profit so stock up on the lows ready for the long haul into becoming commercial.

Tomorrow another up day now that would be rarity 2 up days in a row.

Spot on explosive,
mitzy,well done on mta,look where thats come from its lows!!

Conference in Sydney tomorrow and Tuesday when Jenni will give a presentation regarding Rift oil.