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%.

Mitzy,hope you did not get sucked in like i did in mrp!

another 1p tick up on rift and i will half my holding,we are getting closer to news and no sp reaction,yet it moved to 7.5 on news of the last placing.

Thanks capetown I decided not to buy MRp..back to Rift I am keeping an eye on the buys as Rift can shoot up when the buyers return..the minute they start to rise I'm in for some more.

Puk Puk news any day now unless there have been delays... Funding in place and alot of infrastructure, we just need the magic word 'commercial quantities' and we should be rolling.... Fingers crossed these haven't moved before I get my bonus...

I am hoping tomorrow explosive you never know they may have been drilling beginning this week.

Chart beginning to look interesting.

EME doubles today on some good news and Rift has a bigger potential with PPuk field .

Notice the 500k buys and the 1m buy trade.

Both of them.

Rollover's

Lack of sp movement may suggest an overhang or large seller in the background.

After spudding announcement shouldn't make much difference. IMO.

oilyrag
Are you in SER.

No I'm not, there are just too many to cover. In oil and gas sector I hold, HAWK, TOM, XTR, RIFT, AMER, and QFI. I sold out EME long ago for more than the current price and feel that them only holding 7.5% of their current find, the rise may be overdone.

oily
You should take a fresh look at SER it's breaking out and could see 10-15p over he coming months.

i have tried to get some more RIFT a few weeks ago over the phone via igmarkets, and again today over their website... but each time they won't allow me to cos of "only Closing positions for this stock is allowed"... or words to that effect...

f__ers !!! that tells me that these outfits are probably soaking up all the sells, and are waiting for a little while, when they will then sell into the market at much higher prices... cos why else would they only allow you to Close your existing position, and not open more of the same stock...

why else won't they give me my p_ssy order ??!!??

Lot of people in this one it seems (including myself) !.

" alt="" />

Crosses looking nice, lets hope RSI doesn't fall back anymore or we're going down.

SP rises must be due to yesterdays buys.

oil now $120 and heading to $123 soon I just wish Rift would get their act together

Should Rift find say 50 mbo at PPuk I guess the discovery of oil would put Rift in a better light.

Have they started drilling?