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%.

driver decided to follow Ian Gowrie -Smith to the "promised land" instead!

I agree halifax the share could be worth anything between 300p and 50 quid (should they find 10tcf of gas).

Well mitzy....I hope so, in the meantime I am convinced that if the testing results on puk puk are good....then the sp will climb above 15p....it would have to be somewhere up there between 15p and 20p....because not only the drilling results are good but the potential of this gem would be sky high and investors will pile in : so I have just bought some more ....getting overweight on these now but what a share this could turn out to be, where are the tipsters ?....no sign of them, they will miss out on this one !.

http://www.ogj.com:80/display_article/335069/7/ONART/none/ExplD/1/Rift-finds-gas-in-Puk-Puk-1-well-in-Papua-New-Guinea/

alanjones7, sorry did not see your post till a few minutes ago.

http://oilbarrel.com/home.html

10% Down ??????????

You've obviously not heard? Somebody lit a match.....

All oilies down today (just about )........it will come back ...patience....almost impossible to time everything right !.

exactly so, presumably on the basis continuing fall of crude - now about $125.
in due course, i dare say (hope!) t/o rumours will start up again as assuredly buying up existing known reserves is a cheap and quick (production) option for the giants

A little bit of bad news somewhere inthe world could change the oil price direction very quickly.....I'm still 80% in oil and gas shares so I'm hoping that crude will level out....!, RIFT looks very promising.....bought a lot of these now.

Why the sudden rush for the exit, is this a buying opportunity or should we wait for 7.5p?

a lower crude price will help the markets in general an MAY take the oilies with it; but it won't be today

Lower crude prices is only a blip IMO oil will soon be back to $150 +

Alternative report, Ptr are now due a take over bid from DNX and Cairn energy as thease are classed as classic oil companies with proven reserves an offer of 1.36p WOULD BE IDEAL TO take control of Petroneft.

its today broken long term support level aka fib retracement but now attempting to recover from a medium/long term support aka fib.
can it recover?
6/7.5 seems to have been where the support via buying comes in so that level should stop downward momentum, if all is well.
if not then anything could happen.
not into candlesticks but i think followers do have a name for that one
that appeared on monday.
what this one is going to look like this week we wont know until friday.
anyway a 30%+ retracement is not unusual for a stock in a bull trend.
trouble is some stocks just dont recover after such a fall.
we all have different investment criteria so i guess its up to us to each individually decide whats best. hopefully with an open mind and eyes wide open.
good luck.
just my opinion as always.
regards
jkd

addendum to my previous post
many stocks do recover from such falls.
please dont let me be misunderstood.
i am neutral on this.
regards.
jkd

http://business.timesonline.co.uk/tol/business/markets/article4375318.ece

Are you still in capetown..?

I'm still here for the long term.

mitzy,i am still in but halved my holding,i still think this will fall back before news and then it will go either way bigtime!.Hoping it goes north to stem huge falls elsewhere.
Good luck.