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%.

Fingers crossed news is delayed.... Indicies looking to fall again and I for one would like to see the sp lose some... Currently buying whenever able so like the prices of recent.

I reckon we could be due another move any time now..

Mitzy,were on our WAY!!!

I bought a few this am capetown already in profit and more to come I am certain

Offer now 4p havent seen that for a while..

lot of buying, is the something going on.

I wouldnt know dave but I have been buying early this am in anticipation of some news.

big jump today,
is news expected?

Doesnt matter whether you pay 3/4/5p this could be worth 12p when they spud PP.

Needs volumes mitzy to get it moving

agree there explosive 5 m yesterday but 1m today.

The spudding of the next well should improve the sp, but 12p is a long way off and in these markets..., should they hit the jackpot, well then you could be looking at 20p plus, so just like FRR there is a risk, but just like FRR (with the Taribani field) they have something to fall back on : the Douglas prospect....I'm in both companies, nervous and very exciting times indeed...good luck everybody, we are going to need it !

Good luck with FRR.

I missed out with FRR which is a shame instead I'm loaded up with Rift I just hope they find some oil.
Chart confirm s buy today 4.5p target.

I've been holding this for so long and all the time has passed me by but somethings happening now.

Mitzy if it goes to 5 p soon before news i am selling half to then give me a free ride as i dont want to watch any potential profit dissapear as it did last time we had a hike.

Good luck,keep ya hat on!

Good policy capetown I may do the same.

I am holding long term explosive on the premise they find between 1-2 trillion cuft of gas over the next 5 years and the possibility of oil reaching $200 a barrel the current valuation of Rifts reserves suggest a multi bagger for those that stay in.

Oil at $110 a new high tonight expecting a $120 a barrel in 2008.

If Puk puk (I think it's called) comes right...well...the shares will zoom...just a question of whether it's worth taking the risk of being in when the well results are received.