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%.

mitzy keep ramping but beware you might lose your blouse.

halifax do you know me..?

It looks like the minnow aim stocks will take turns in rising a little....still in this and hoping !.

I think if you read Interoil's recent newsflow you will see PNG is a very popular area.
With Rifts recent huge discovery i dont think a farmout deal will be a problem or indeed a company buyout (at what price?).

The gas asset has a value of $1bn+ with other structures identified and to be drilled on licenses.

Rift have 100% share in license.

It's time I found one that will make me a profit

some big buys recently. news is due.

the time its taking i wonder if its a buyout?.

anyone got any views on price of a buyout?. Some are a bit wide of the mark imo suggesting 30p+. In this mkt i think 12-14p more realistic.

They may decide to keep proving this assets up to 2tcf and retain the 100%/ or a retain a sizeable percentage and farmout the next phase.

Rift gets moving at long last.

mitzy where is it moving to?

Well thats difficult we are due a statement anytime now whether they issue more shares or get a jv partner to explore the oilier fields near Douglas they need more money otherwise 2009 will be a non starter.

Well I decided to buy a few to add to my long position news must be imminent.

News from Rift in the next 10 days is the gossip.

Other BB's are suggesting that they are in discussions with more than one partner, and hence the delay in newsflow.

Obviously rumour so treat as such, but would seem to make sense (as the alternate is that no-one is interested which given the figures is unthinkable)

My broker says important news soon.

'bout time too!...bring it on!

Well knock me off me bar stool !, this has woken up as well.....it's like I said on another thread, the oil minnows are taking turns in rising each in turn !.

Heading to 8p imo.

Important RNS.

And sp starting to rise, at long last, .....ahhh sigh !.

'bout time too!...bring it on again!