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 dont mind if they fall further as i will be adding,geting quite a large amount for my standards now,and average '3.95 NOW.

Same here capetown I hold a big portion of my portfolio in rift I guess I am

RNS states MF Global has 3.5pct shareholding is this new?

Never heard of them unless they are a holding company for the directors.

Its Man Financial the commodity people.
this is great news.

Good news indeed, notice how the share price didn't move though..! The downwards trend continues but for how long. Tempted to start buying now but hey want to at least see some sideways first.

They must have deep pockets to buy 24 mill shares makes you wonder where they got them from.

See post 360.

You could well be right halifax wonder if they are buying more from the poor pi who are off loading at the moment.

With almost 700million shares issued they probably bought them from another institution.

certainly looks that way.

Update due end of the year around 21st December.

Update could be as soon as next week which is earlier.

Never seen this before in an RNS...

Rift Oil is now in an exceptional position. We have gas reserves and an in
principle agreement with Alcan which together have the potential to be
transformational. We are looking at what could be worth billions.

Missed the update for some reason so that would explain the 8% rise..this could be worth 5 billions in my guess.

Bit quiet this morning, all the trades at 3.55p are buys, so screen shud be blue.

morning canada.

by my reckoning the value of rifts fields is worth at least $1000mills should they sell on to an oil major.. that gives a price of 40 times current price about 150p a share.

morning mitzy.

Yes, looks great, 20p wud do for now, can't understand the buy price dropping from 3.75p to 3.54p though !

I agree 20p would be just great it will take time before investors realise the potential.

My money is on Alcan buying Rift out within the 12 months of 2008 and the price around 20p ,,cheers.