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%.

Yep..It's looking good ! :-)

Good result....due to the size of the concession area....this really good be one hell of a stock !.

Without being optimistic....(you should never really be)...this little company has the possiblity of being worth hundreds of millions of pounds....the possibility is there not just pie in the sky either....I'm trying to find a negative point for this minnow...have not come up with one yet !.

If you cant find any negatives, then maybe you should consider buying. Not a ramp, yes I do hold, and am very positive for the long term.

rq not wishing to be a wet blanket but my only concern is the guy who runs/owns this company and who is never short of a word or two having had a painful experience in the past with SKP wHich he sold out. Also we have in the recent past had the gas related disappointments with VOG and FEP.It may well turn out to be a fantastic investment especially if a major oil company became involved which would support the current enthusiasm of Mr Gowrie- Smith.

Good news, a nice steady sp rise leading up to flow results would be nice then a rerate still to come encouraging oil shows given that there remains 7,000 square kilometres of concessions adjoining the Puk Puk discovery are unexplored this could be huge.

halifax
I stiill hold SKP it's a good time to buy.

driver when they sort out their debt problem.

Rift Oil plc

('Rift')

Results of Wireline Logs:
Gas and Oil Find at Puk Puk-1

Note that also OIL find stated in the title of today's RNS.

required field there is #10b to 320b worth of gas and maybe oil my target from 2 years ago (check my posts) is 300p but then again I'm a holder from 3p..

mitzy
You always was a pessimist try 5

lol..

http://www.hemscott.com:80/news/static/tfn/item.do?newsId=65753801908377

Thanks for the comments everbody....it does look promising....probably better than VOG and FEP....because this one has discovered gas in quantity, we still don't know how much, but their acreage is a very large area and the Papua New Guinea government might grant even more if these 2 discoveries are going to come on line with no problems. It almost looks too good to be true.....but I think that this will rise to 20p very shortly (end of summer).

stange all the selling and the fall in the sp........ the good news must have all been in the sp already..hence the reason for recent sp rise ?....
Perhaps ther'll be another rally in the run up to the next RNS ?

MM's accumilating cheap stock, don't be fooled. Good news not priced in, potential value of RIFT could soon be in the Billions.

Also MM's dealing below mid to confuse investors, and to prove they can move sp to wherever they want it. IMHO DYOR. I have.

I'm surprised we haven't had a run like VOG of 2 years ago.....what on earth are people selling for ?, unless you are in a Sipp, there is the 30 day rule to think of !, and you cannot put this in an Isa, so selling and buying back is difficult to guess and you have to watch it all the time (I can't), if I had some more available funds I'd buy some more !.

rf
Sell your Granny

You'd be interested ?....there might be a few other relics I might be able to dig up !.

This has to the hottest stock on the market at the moment....can't wait for the testing....and then the Douglas prospect...that will take us well into September where perhaps a rally on Aim might be in the offering !.

Apologies to my ancestors for post 720 (just a joke), ( I would not be here if it it was not for them), better put this ; they might have the internet....psss sell my granny.....what price tag ?.