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%.

Great day for RIFT, and the buyers who got more at 6.6p early in the day.
Initial target if all falls into place must be 40-50p?

bought in small time this morning...great story in the making....like IVE..

I got in @ 6.79 but it shows as sell..anyway... onwards and upwards!

Level2


LNG Agreement (Rift Oil)




RNS Number : 4137W
Rift Oil PLC
11 June 2008


For Immediate Release

11 June 2008

Rift Oil PLC
("Rift" and or the "Company")
Signs Heads of Agreement (HOA) for a floating liquefaction project offshore Papua New
Guinea



Rift Oil Plc, the oil and gas exploration company with assets in Papua New Guinea ("PNG"),
is pleased to announce that the Company has
signed a Heads of Agreement with FLEX LNG Ltd. (Oslo OTC: FLNG) where the parties will work
together to commercialise potential gas reserves
from Rift's acreage onshore PNG should sufficient reserves be established.

Rift controls the petroleum prospecting licenses (PPL) 235 and 261 in western PNG. Rift has
previously made the "Douglas" gas discovery in
PPL 235 and is currently drilling the Puk Puk prospect in the same block.

FLEX LNG was incorporated in 2006 with the objective of commercialising the world's first
floating liquefaction units (LNG Producers)
and has signed four ship building contracts with Samsung Heavy Industries for LNG Producer
hulls utilising the SPB LNG containment system.
This provides the LNG industry with a unique possibility of accessing currently uncommitted
gas reserves for LNG production from 2011
onwards.

By using the proven nitrogen expander liquefaction cycle, the most robust and flexible
liquefaction technology in use in the LNG industry,
an LNG Producer can source gas from numerous potential offshore locations worldwide where
natural gas today is either
left stranded or is being flared.

FLEX LNG and Rift have agreed to work together to develop a floating liquefaction project
offshore PNG utilising Rift's potential gas
reserves should sufficient reserves be established, and one of FLEX LNG's floating
liquefaction units on order.

Ian Gowrie-Smith, Chairman of Rift, commented:

"It's fantastic that Rift Oil has been selected by FLEX LNG in their drive to
commercialise gas discoveries in remote regions, such as
Rift's in Papua New Guinea, by the conversion of natural gas to LNG utilising floating
vessels. Yesterday's announcement by FLEX LNG that it
has signed a Heads of Agreement with Mitsubishi and Peak Petroleum to jointly develop and
market the world's first floating liquefaction
project offshore Nigeria is confirmation of FLEX LNG's frontrunner status in this field. The
surge in LNG prices is rewriting the economic
alternatives for Rift by enabling us access to international pricing. Rift remains fully
committed to the developing the opportunity to
supply Rio Tinto Alcan with natural gas over the next 20 years in accordance with our existing
Memorandum of Understanding with them;
however any agreement with Rio Tinto Alcan will have to be economically superior to anything
we may agree with FLEX LNG."


Philip Fjeld, Chief Executive Officer of FLEX LNG, stated:

"PNG is a country with considerable undeveloped gas resources and we are excited to develop a
floating liquefaction project together with
Rift. By selecting a floating liquefaction option LNG could be produced several years earlier
than a traditional onshore project. FLEX LNG
will work together with Rift to facilitate an accelerated plan for exploration and development
of PPL 235 and 261. Both parties will also be
open to processing third-party gas reserves that are commercially stranded and that can be
tied into the project."


Enquiries:


Rift Oil Ian 020 7340 9970
Gowrie-Smith / David Lees
Buchanan Tim Anderson 020 7466 5000
/ Isabel Podda
RBC Capital Markets Andrew Smith / Sarah 020 7653 4804
Wharry

The fun has only just begun,where are you mitz?

Morning ct, I hope you didn't sell half at 7p.

I realise I'm probably being a little ignorant here - held Rift for same time in a small way, only recently increased my holding dramatically so starting to take more interest - but is there any likelihood of oil at present sites, or are we talking gas only?

I did,but FANTASTIC news!

And very happy with remaining investment.

rift isn't looking so "stranded" now, I just hope fep can get the same deal.

Canada,i read recently that FEP were in dispute with another company,did you see it??,may be why the sp has slipped,be carefull with that one.

oblomov, Only depths have been RNS'd so far at Puk Puk.
Gas find at Douglas to be quantified next month or so.
MOU to supply Alcan for 20 years.
Now MOU with FEP to use LNG vessels to transport gas.
Everything else is purely speculation, which makes it exciting.

Dealing below mid again. Nearly all buys.

must be some overhang

Tis not that. The market is in state of total shutdown apart from short sellers. Today short selling builders is the only action going on. Nothing personal to RIFT

dear dear

Thanks Oily

Bought in today.

Anyone know if hlyeo98 is still on these.

This should be in the header.
http://www.riftoil.com/

welcome driver, been adding myself on the dips with pre-set buys.

andy
Cheers andy agree with your IVE comparison both sps look set to multi bag in the near future or long term. Two good companies with time to accumulate.