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%.

Already have ! there not so good either ! have you got any your sitting on that your in profit ? or think you will be ?

DES!!!!!!!!!!!

starting to come back in.

Wont be long now.

Its about to blow.. up 10%.

Having took profit at 8p, tempted back in yesterday at 5.975p.
Hopefully recovering now but wonders if sp will be maintained after flow-test results or whether this is another bout of traders buying in expectation and selling after the news?

I'm informed ev ery thing is on course Andy.

andysmith
Just like yourself then If no punters sold on the news this woulld be about 50p by now.

On the way back up now , would be nice to see the last high overtaken on the graph .

We will soon find out fliper.

friday press round up today - daily mail - comment - rift oil is over sold. Have a look a news and see how you think this will affect the share price overall.

Any other Mail comment janet..?

not at the moment mitzy. A friend of mine is heavily into this company and he has high hopes I am thinking of joining and having a punt.

Best get in now then ! you might see a little more down movement if ur waiting to get in lower but then you might miss the boat when it goes up..and it could go up sharply when it does (imho).. I'm contining to hold and may top up shortly at these levels

Hi janet my friend advised me to buy 2 years back he says it could be a possible 100 bagger..

I'm happy to hold.

Can we drop this friends stuff we dont even know who we are talking to on this B/B let alone their so-called friends. My friends could be saying the same about me and Im no Guru Im sitting on a loss at the moment.

My friend is in South Africa this week I will speak to him when he gets back.

My friend has a crystal ball Im going to borrow it this W/End Ill let you know how I got on Monday.

Driver - I see you quite like the little oil explorers. High risk, which I suppose is the attraction, but I am sure you know the strike / failure rate the same as the rest of us.
Have read the recent RNS, but most of it is 'expecting', 'estimates' & 'potential'. They have run in to problems on PP1 & don't expect to complete until the end of september. So for someone who hasn't really been watching this one, what's the current attraction, apart from a depressed sp?

Harry
You know Im a long term player they have plenty of Gas and deals in the pipe line looking into my friends crystal ball this W/End Im hopping to see a future sp of 40p rising to 100p in a few years time.