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%.

Think of a number double it and add 100p.. lol.

mitzy,keep this up and i will change my mind about selling half!
I have decided,in for a penny,in for a pound.

another good day and rise tomorrow another 10% ..7p..??

took a gamble and sold mine y'day for a 44% profit and am now wondering why?
I figured that they cant keep going up without some profit taking, but no-one seems to be. I was looking to get back in.
I am content to be in SER and IVE.[If only I could have spotted TRP then I could have been in all three!!!]
Isn't hindsight wonderful
bon chance to all who remain
Alex

Just seen TRP incredible should have bought 3 days ago when it was tipped but my money is on Rift now 2 years holding perhaps 7.5p.

Hope so Mitz, debating on taking original investment out but suspect news won't come just yet so still holding. Buying on lows has paid off nicely average 3.5p so 7 doubles me up.

mitzy
7p today ?

We might get a month of this. Here's hoping. 0.75p x 20 trading days equals a 15p gain on top of current sp is 21.5p. WOW, I wish. Good luck all.

This has the TRP syndrome today, rocketing....(off topic, I think that TRP might do what FEP did a few years ago, shot up on potential and then all the way down again....got caught myself at the time!), but looking good here at the moment !.

Incredible .

Rift did exactly the same,all the way down from 11.5 to 2.5,
Incredible,watching and nervously holding off the sell button for now.
Good luck.

If you decide to sell I dont blame you cape but I'm holding for now.

Cape, I'm looking for 10.5p before top slicing. Selling 25% for a free ride.

Off to do some gardening,
NOT looking in again untill after 1630.

These were tipped by my friend 2 years back he has a good record for 100 baggers he tipped MMG at 3p and ASOS at 3p both went to 300p..
Can he make it third time lucky here..?

RNS early days.

Mitzy,
Decided i will stay with it,
If am not in it,i cant win it,if i loose,well so be it.
So much for not looking again untill after close today.

lol cape.

rift directors have noticed the share rise, and dont understand why. They have only drilled 68feet as of yesterday 1600hrs

Pity they did not understand why it collapsed from its high of 11p,they ,the directors did not put an rns out to slow the fall but they put one out to slow down the rise!.
Good luck to all thjat hold.