Anyone got any advice on RIFT.

I bought at 7p nearly 3 years ago. They subsequently went to 1.7p and are now back to 7p.
Are they worth holding or should I switch?

oh dear.......going down quicker than i thought

Yes your right for once..lol.

cant fail i suppose predicting sp will go down.........dont tell darling to fart or the country might explode

What the hells wrong with this share.

its crap

All shares have been hammered...hang on in there... good level to buy more (imho)

comes a time when you say enough is enough. if you have cash you will clean up imo. all in the timing!.

Down for the second time in 2 days.. incredible.

It looks bad but hang on.... good time to get more (imho)

Mitzy
Back in this am.

good luck capetown the selling seems to have finished.

tempted.

Longterm,a steal.

Longterm yep should well be a steal as long as when they produce they can keep costs under control and gearing high. I wouldn't have thought this would be a problem as the resources are not located under water.

ex
You seem to be deramping all over the place apart from rift that you have a stake in have you got a sore head today.

Interesting, will it be a repeat buy on rumour sell on news though?

Good news ! I think....so what happens next & when ?

RNS Number : 8890F
Rift Oil PLC
15 October 2008



For immediate release
15 October 2008








Rift Oil plc

('Rift')







Puk Puk-1 - Rift flows gas at 71mmcf/d



Rift Oil PLC (AIM : RIFT), the oil and gas exploration company with assets in Papua New Guinea ('PNG') is delighted to announce that the tested flow rate from all three productive zones at Puk Puk-1 has been measured at 71 mmcf/d. This follows the previous advice of gas flow of 29.2 mmcf/d at the combined Toro and Lower Hedinia pay intervals. Additional tests on condensate levels and composition continue, with condensate levels appearing lower than earlier expectations.




Seismic testing over 210 km is now complete with encouraging early results.




During production testing of the Puk Puk-1 exploration well, hydrocarbon gas flowed at a combined rate from three gas bearing reservoirs of 71 million standard cubic feet of gas per day (mmcf/d). The rates from the individual reservoirs were separately tested and were restricted by downhole equipment constraints. The Toro Sands Reservoir tested at 29.5 mmcf/d with 1252 psi surface flowing pressure on a 64/64ths choke from 12 metres of perforations, the Upper Hedinia reservoir tested at 22.8 mmcf/d with 1634 psi surface flowing pressure on a 54/64ths choke from 7 metres of perforations, and the Lower Hedinia reservoir tested at 18.8 mmcf/d with 1931 psi surface flowing pressure on a 42/64ths choke from 11 metres of perforations.




Summary of Current Position




Rift is in discussions with a number of strategic partners to fund the continuing testing and pre-production expenses. As previously announced in September, heads of agreement have been signed with Flex LNG for gas sales to a floating liquefaction plant and preliminary discussions with Rio Tinto Alcan ('Alcan') have followed the signing of a Memorandum of Understanding between the companies in 2007.




Discussions with other potential partners are at a preliminary stage, but are encouraging.







Ian Gowrie-Smith, Chairman, commented:




'These results show the extent of our gas resources at Puk Puk-1 greatly exceeds our expectations. These flow rates give Rift added comfort that these discoveries can be successfully commercialised.'







Peter Mikkelsen FGS, AAPG, meets the criteria of a qualified person under the AIM guidance note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement.

very good news.

Sp not moving though, why!

I guess it still requires funding for the pipeline for the gas to be of any use and the amount of funding required and how they get it plus timescale for production may hold the sp back in the current climate, not to mention 50% profit for some this week, banking that kind of profit at moment is good.