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%.

VOG had a similar dip mid-day when they announced their first reserves upgrade, then the SP rose about 50% the day of the RNS and really went wild the following day. The rest is history.

When RIFT starts announcing the results of its reserves audits in due course then it'll be buckle-up time :o) IMO.

Potatohead, you are a bounder and a poltroon of the first water, and if you actually take your own advice you'll be a pauper too.

Those of us who have done our homework know that RIFT has precisely 356.6 million shares and apparently no major holders if my online broker is to be believed, which means that liquidity is high and that there's lots of room for the SP to rise when the institutions switch on to RIFT's potential.

So far over 2.5% of the company has been traded today, which is hardly inconsequential. There could be a stock overhang, but I can't say for certain as I don't have access to the features.

Very content to be a wrotten (sic) egg, as I have a suspicion I'll come up smelling of roses in the end.

Getting really excited about their prospects and could reach 200p plus within 2/3 years if the gas/con is as good as they say.

Now that's more like it !! :o)

I think it'll be as good as they say if not better!! Hold and buy low whilst you still can is the name of the game here....

They have found several hundred bcf of gas and condensate in their initial drilling and need to evaluate their findings in the future months ahead.More wells will be drilled and further licences acquired in the region but what is so exciting is the potential in the next 2 years of realising a field containing between 30mill and 300mills of oil equivilent.

Thats why I stick my neck out and say they could be a multi bagger and by that possibly a 100 /1 one.

sorry guys and gals, i bought into this one the other day[only 3000 shares] but i seem to have had my usual jonah effect. two days red. but imho it must go up so hope you all not too cross!!! :)
Alex

Relax bobalex, I bought into RIFT a few weeks back which gave it the usual kiss of death.

Your not to blame.

robertalexander

if you always have this jonah effect, you can use it to your advantage.
say you want to buy 10000 shares, you first buy 3000 shares and maybe because of the jonah effect, the sp may drop then, you buy the rest cheap. maybe you can short some shares using cfd. in my case, sometimes, whenever i sell, the sp will head north. i observe this for a while, first did not like it then i use it nicely by selling may be one tenth of my holdings first then sell the rest when the sp moves north. strange but watch out for the transaction cost though. i think in most cases, this phenomenon is the result of the inner fear we face.
is there any therapy for that? my grand mother always say to win, one must accept to loose too. strange and irrational. how to win without fear and loss?

"how to win without fear and loss? " Simple - don't panic when you're in the red. If the company's good you'll profit in the end.

And if it's not?

You will have lost!

And there's nothing like certainty for putting paid to fear. After all, if you know the worst is going to happen, why spoil it by being scared?

(My last post makes sense if you got as little sleep as I did last night).

soul traders
thanks and best luck

And I remember a voice from the past...gambling only pays when your winning..I know what I like and I like what I know..!

just a comment about not panicing, i never panic when i am in the red, as i always seem to be there. going into the blue always gets me in a fluster. sorry folks but i have also put the kybosh on this on with my interest.best of luck everyone, this time next year eh.

my target of 400p is based on the prospect of Rift finding 300 mill barrels or gas equivalent with in the next 3/3 years.. hold on theres no downside but potentially a 70/80 bagger.

From the other side:

JAKARTA (XFN-ASIA) - A consortium led by BP Plc and several lenders will tomorrow sign a 2.6 bln usd loan agreement to finance BP's Tangguh liquefied natural gas (LNG) project in Papua, oil and gas regulatory body BP Migas said. "There will be a loan signing agreement tomorrow for 2.6 bln usd to finance the Tangguh project," BP Migas chairman Kardaya Warnika told reporters. The lenders for the Tangguh project are the Japan Bank for International Cooperation (JBIC), the Asian Development Bank and a number of Japanese commercial banks. Warnika said the loan will be used to develop three Tangguh LNG blocks -- Berau, Mutuari and Wiriagar. In particular, the funds will be used for LNG drilling activity and for the construction of refineries. (1 usd = 9,095 rupiah) roffie.kurniawan@xinhuafinance.com newsdesk@afxnews.com jlw

This great news for RIFT, as they will gain publicity for their nearby field and could be subject to take over from BP.

LOL

Fantasy time on RIFT.