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%.

You'll have to look on the hceg board, bottom set of postings.

News this week.

I am guessing 3p if nothing or 10p if commercial gas and 15p if oil.

Are we there yet, are we there yet?

Not quite canada the next 10 days I reckon.. boom or bust.

outlook for 2008 to drill (puk puk and douglass north) which may prove sufficient gas for exporter.rift allso proposes to flow test the douglass main discovery.

Strong Buying today

looking good.

looking good.

Ithink mitzy has got it right it will be BOOM and bust!

this is wot shares is all about boom or bust most of us have been ther and still ther.

drilling up date, looking very good.

We,ve got gas. 150 feet above target. This is a good sign apparently.

Looking good.

RNS Number : 2160Y
Rift Oil PLC
03 July 2008

For Immediate Release
3 July 2008

Drilling Update

Rift Finds Gas at PUK PUK-1

Rift Oil PLC (LSE : RIFT), is pleased to announce that drilling on its PUK PUK-1 exploration well in PNG has now reached the upper reservoir objective at a depth of approximately 1760 metres, significantly higher than originally expected. Increased gas levels similar to those experienced in Douglas-1 were observed upon intersecting the 'Alene Sand' objective. The results are very encouraging at this stage however their full impact and significance will only be ascertained once electric logs have been obtained, which will only occur when drilling reaches its Target Depth between 1900 and 2000 metres. The main reservoir objective, the 'Toro Sand', is now anticipated to be penetrated below 1820 metres.

Flow testing is expected to be completed at PUK PUK-1 by the end of July at which point the potential of the field, and the impact of the discovery of gas at a higher level than anticipated, can be accurately assessed. Flow testing at Douglas-1 will follow and will be completed and assessed by the end of August.

Ian Gowrie-Smith, Chairman, commented :

'We have found gas, importantly 150m higher than expected which is a great sign.

'We are exceptionally pleased with the indication that PUK PUK is a gas discovery, further confirming our belief that our assets in Papua New Guinea have the potential to become commercial projects and we look forward to updating shareholders on our progress at this exciting stage of our development.'

Rift will be presenting at the oilbarrel.com conference being held today in London.
Peter Mikkelsen FGS, AAPG, as the qualified non-executive Director has reviewed this statement and authorised its release.

Well....a glimmer of hope amongst my bloodbath that is todays markets, this is looking good for 10p at least....well done RIFT oil...though testing has to follow !.

In this market I can't see any significant increase in the sp until the next couple of rns

I was thinking that : (the lucky people) on holiday abroad or so must be looking at the papers with anxiety....making excuses to their partners....: "Darling I've just got to nip back to the hotel...something urgent has come up...be back in 5 hours", thinking : "please somebody...quick ...get me to a computer"....!.

From today's toTimes...

Tiddler to watch...

Rift Oil gained p to 7p after it struck gas 150 metres higher than expected at its second drill hole in Papua New Guinea. This implies that the potential reserve is far larger than initial estimates. It also gives more confidence to its two competing potential development partners, Alcan and Flex LNG, who will need to finance development.

Building up nicely I am convinced we have traces of oil in the PP area.

http://business.timesonline.co.uk/tol/business/markets/article4265636.ece

Just about the only positive these last days on my battered portfolio.....well, the sell and go away effect has worked again this year, here's hoping for an autumn recovery on the rest of the stock market....in the meantime this is looking rather good !.

Watch this baby go yeh.