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%.

RIFT now have 100% ownership of these huge Gas Blocks.
Completion of drilling due in two weeks to prove commercial.
This could be the best prospect in 2008 for any AIM stock.

Yes, very promising....before well completion might be as high as 9p or so !

With sp being held back while loads of trades going through at mid, I expect a huge rise near end of day.

With MM's in the mood they are, you have no chance I'm afraid.

Guess this thread will be quiet until more drilling news but I think that out of court settlement will be good news, what about the rest of you?

Apparently an article in The Times today saying Rift Oil as small company to watch, believe me we are!!!

Most interesting is the amount of sells yesterday,and so far today,
MMs collecting stock?

If they were not collecting stock the sp would be falling on these volume of sells.

All sells by the look of things,red all the way??

thay could well miss out,as you say andysmith, watch out for rift, and on the 6th of may, chirman of rift, commenterd, the start of drilling is a major step forward as it will rapidly lead to a more accurate estimation of the size of the field and its valuation. we have high hopes that puk puk will prove to be a significant discovery. and that the flow tests from it and douglas-1 will confirm reserves to the standard required for a supply agreement witch will transform rift oil.

Thanks Andy - here 'tis:-

http://business.timesonline.co.uk/tol/business/markets/article4016851.ece

'Tiddler to watch

Keep an eye on Rift Oil. The shares, flat at 6.375p, rose last week as drilling began at its gas field in Papua New Guinea. It has been looking at building a pipeline to Northern Australia to supply gas to an Alcan plant. It is now said to have obtained a ship to carry the gas as liquefied natural gas, cutting the time to first delivery drastically. '

it could be that thay may have some big orders to fill.

dave7010,youre theory is probably correct or the sp would have fallen to reflect the amount of selling.

Dont know much about LNG but is it possible to pump gas out of a well onto a ship and turn it into LNG without any other plant and equipment?

Sell price 6.25p, buy price 6.27p, lots of buys showing as sells. Where's that 20p ???

just above the 19p thats on its way.

trades showing 6.27 and above were buys, got quoted 6.27 and 6.33 during the day

21,780,000 shares as a buy ? and very little movement,bizarre.Any thoughts?

thay well could be other big buys waiting, i think when the shares start moveing thay may go up very quick, catch me if you can. big buys less shares on the market to trade. good luck to all who holds.

Mythoughts, pleased I got some shares ready for when this company becomes transformed and the sp rockets, if 21m sold we would expect big fall, someone has large order with limit placed or someone willing to take alot of stock.