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%.

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.

Well done capetown sell some at 11p seems to be the best policy ...I am stilll holding my original holding hopefully the oil price will recover and oilies will rise again.

cheers.

Nasty pullback....still think that this is going to sail past the 12p mark at some time.

Nothing to worry about its a low volume day I'm positive 12p is possible .

Someones bought 1mill.

Have sold my initial stake to leave profit in shares.

big buys starting to come in, may be back on the up.

Treading water before the next news.

We should get the well news this week.

Blue now today, with news due.

Puk Puk update out.

Took my profits now until further news

Same here,out for now.

I'm staying in for now as only got at an av of @7p...this is good news... still jam tomorrow but more jam !
6/7 weeks to next big news ?

Good news indeed, although sp down?

Anyone any idea why this stock is showing sells even when I decide to top up - like it did today? The spread today was 6.75 - 7p earlier. I bought another 5000 and Barclays gave me a price improver of 6.76p which was logged as a sell???

Have we seen RIFT peak already for 2008? I hope not. If they go sub 6p is anyone else going to top up or is it time to be more sensible with your dosh?

If you can afford to keep holding for a few years, the current sp will be totally irrelevant, and therefore an absolute bargain. IMHO. The problem is that too many look upon it short term and panic when the price falls.

Ask yourself this, if the latest rns's are that good why would anyone sell. As you say your purchase was shown as a sell.

MM's conning us in my view.

I hold and shall remain a holder.