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%.

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.

Anybody have any thoughts on MF Global and Credit Agricole selling their shareholdings at ths crucial time just before drilling results are about to be announced? Presumably another institution bought their shares, but if so RIFT will have to make a declaration to that effect?

RNS yesterday about Credit Agricole selling all their holdings.

Morning all.

Halifax ref your earlier post 532, no it is not quite that simple. I have attached a useful link which explains the LNG industy a lot better than I am able to.

http://www.dom.com/about/gas-transmission/covepoint/lng.jsp

Darradev tks for posting a very informative article.

I suspect that most of todays trades are in fact buys at the bottom end of spread due to CA's sale. Overhang to be cleared before sp moves north again.

Overhang appears to be cleared, sp moving north.

Interesting article in The Times yesterday, giving some background info:

"...His latest venture, Rift Oil flat at 6.125p yesterday discovered gas last year worth an estimated $18 billion (9 billion) at present market prices in a drill hole in Douglas, Papua New Guinea (compare this with Rifts market capitalisation of 43 million). He has negotiated an outline deal with Alcan to supply its Gove aluminium plant in Australia for the next 20 years, which depends on a gas pipeline being built linking Papua with Australia."

For full article go to:
Rift boost for Ian Gowrie-Smith

Those shares in hands of investor, good news, maybe Credit Agricole needed to bank some profit for their funds?

RNS Number : 2097W
Rift Oil PLC
06 June 2008


Notification of Major Interests in Shares

The Company was notified on 5 June 2008 that following an acquisition of 26,666,668 ordinary shares of Rift Oil on 4 June 2008, Citadel Equity Fund Limited now has a notifiable 3.82% interest in the Company's issued voting share capital.


This may offer some support to the sp as drilling nears completion.

Well the Times might be a little optimistic, 9 billion sounds fantastic but until flowed and tested...who knows....We will have the herd and it's family piling into this if this is correct....the shares will be like hen's teeth....this would be the Aim stock of the year....and we would be looking at 100p a share....sounds too good to be true.....

yeah feet on ground time but if we get 100p a share I will be very happy but not even thinking about that yet, like you say, lets prove the reserves first and get some supply deals in place and then maybe multi-bagger will be a reality.

Fingers crossed...I've been in this for what seems like several years now !