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%.

Heading to 8p imo.

Important RNS.

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

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

This share is soooo predictable..it always goes down after good news released.
Still, good opp. to buy more!

Yes very annoying.

mitzy,annoying but predictable,it will get there in the end,just need to buy lows sell high on the way,easier said than done.

For immediate release
27 March 2009











Rift Oil Plc ('Rift' or 'the Company')




Rift Oil Earns declaration of Location




Rift Oil PLC (AIM : RIFT), the oil and gas exploration company with assets in Papua New Guinea ('PNG'), announces that as a result of the two discoveries it has made in PPL 235 in Papua New Guinea, the Minister for Petroleum and Energy, the Hon. William Duma LLB.,LLM., MP, has declared those areas as: 'Locations for the purpose of the Oil and Gas Act'. This information has also been published in the National Gazette in PNG.




The gazettal of the 'declaration as a discovery location' covers nine grid blocks for Douglas-1 and nine grid blocks for Puk Puk-1, each covering an area of approximately 800 km2. Rift will now apply for an extension of the PPL 235 Licence for its second five year term.




The significance of the declaration is that these areas are now recognised by the government of PNG as likely development locations within the PPL and so it is a precursor to a Petroleum Development Licence which is required for production of oil or gas.




The successes of Puk Puk-1 and Douglas-1 clearly affirms PPL 235 as a significantly prospective area.

Av. about 8p so may increase my holding next week. Things really starting to take shape at Rift.
This is very important news to take them into next stage of development.
imo this will help Rift finalise recent talks of a jv or a company buyout.

I think the next stage of news was waiting for this confirmation.
Rumour of a takeout at 12p, dont know if there is anything in it?, but that seems cheap with the $bn assets Rift have.

Rift buoyed by gas test results
MoneyAM
Rift Oil says flow-test data from Puk-Puk in Papua New Guinea 'indicate that we have high quality reservoirs, fully charged with gas'.

Chairman Ian Gowrie-Smith said Rift could anticipate production wells individually producing 100 million cubic feet of gas a day.

'These rates, combined with the relatively shallow depth of the reservoirs and hence relatively cheap drilling costs, greatly enhance our ability to carry the project forward to profitable development.'

Very good news, sp seriously undervalued....should be 15 to 20p.....but isn't !.

On the run.

O

http://uk.reuters.com:80/article/oilRpt/idUKBNG16635220090415

Great news oblomov.

Rift Oil says no problems for PNG pipeline
MoneyAM
Rift Oil has received the final feasibility study for a 300km gas pipeline to enable gas to be exported from its licences in Papua New Guinea.

CEO Jenni Lean says the study shows there are 'no significant technical road blocks' to the construction of a pipeline to the coast and connection to a production vessel.

A case study of the Flex LNG/Rift Oil floating LNG project in Papua New Guinea
Peter Dighton
Flex LNG
Peter Dighton will present this extended abstract to the 49th APPEA Conference on Wednesday, 3 June 2009 in Darwin.


--------------------------------------------------------------------------------
Flex LNG Limited is a producer of units for the production, storage and off-take of liquefied natural gas (LNG). It currently has four of these units committed for construction by Samsung Heavy Industries in Korea, utilising the SPB LNG containment system. The worlds first floating liquefaction unit will be delivered to Flex in 2012. Floating LNG facilities have unique potential for monetising uncommitted gas reserves.

In June 2008 Flex and Rift PLC entered into a co-operation agreement under which they agreed to work together to develop a floating liquefaction project offshore Papua New Guinea (PNG). The project will utilise Rifts gas reserves and one of Flex LNGs floating liquefaction units. Annual production capacity will be 1.5 million tonnes of LNG and start-up is targetted for 2012.

The paper will be a case study of this project including: critical path, project structure and contractual matrix, upstream reserves and facilities, feed gas quantity and quality, pipeline issues and, key design parameters and liquefaction operations for the LNG producer. The paper will also cover: direct and indirect stakeholders in the project; economics and financing; PNG-specific issues such as geography, permitting, fiscal regime, local employment opportunities, marine conditions, infrastructure and sovereign risk; LNG demand in the Pacific and LNG marketing and off-take arrangements.





BIOGRAPHY
Peter Dighton is a lawyer who is the principal of Law Strategies Pty Ltd, a commercial consultancy based in Brisbane that specialises in structuring, negotiating and documenting petroleum projects. Peter is also the Australasian representative of Flex LNG Ltd, which is aiming to be the worlds first producer of LNG from a floating facility. Peter has been involved in LNG projects for almost 20 years, including working for 6 years as the company lawyer for the Abu Dhabi LNG project. He is also a director of Texon Petroleum Ltd, Falkland Oil and Gas Ltd,

Any more news on the PNG pipeline ?

Big news today makes Rift worth 50p.

http://www.riftoil.com/ul/76_549377.pdf