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%.

Wont be long now end of the month..?

So much for my prediction of this flying through 12p.....still in hoping and waiting !.

Oil is rising again....probably gas futures should follow (not sure what they are doing at the moment !) ....oil and gas companies will continue to recover next week, RIFT has just got to rise now !.

I hope news next week but you never know with this one we will soon find out.

Fully invested here make or break for me.

rf/m
theres that word again Hope.
i Hope you are both right.
i have to confess i now have doubts on a short/ medium term perspective.
just my opinion based upon chart reading only.
many tell me charts dont work on small news driven stocks.
dyor.
could be wrong, i often am.
best regards and good luck to you both.
jkd

this share is on the way down

Lets hope so then...as results are due out in the next few days.

seems fibs and chart reading does work sometimes.
not always of course. might be worth considering for those with an open mind
regards
jkd
edit see my post 743 i am still neutral. you must decide for yourselves
hope this post might help someone.

A definate sell IMO

Probably won't be around soon if the market keeps deteriating.

I wouldn't buy this at 1p.

Why throw my money away?

Its very simple at the moment to predict a share that will fall, the clever punters are the ones that pick a share that will rise not many of them about!!

That's because there aren't any shares rising!

lol

Sorry dd, I beg to differ, here is a small selection of risers during this month alone.

DAV DAVANHAM 146%
XXIC XXI CENTURY 60%
CREO CHINA REAL EST 53%
PHTM PHOTO ME 35%
OCZ OCZ TECH REGS 33%
CTT CATTLES 31%
IEC IMP ENERGY 25%
CFE COFFEE REP 24%
CLF CLUFF GOLD 23%
GPX GULFSANDS 23%
BGC BTG 22%

All the above are over 20% gains since the begining of the month. Source, entries in this months Hemscott stock challenge, so there must be plenty more.

OK oily I stand corrected but you know the point I am making.

Yeah, sure do, markets dire at moment, watching HAWK like a hawk, not sure when to jump in for a large top up. Minus 10p since 2:30pm yesterday. Absolute joke, but how much further may it go, only to zero at worst. Good luck all.

oilyrag, thankyou saved me from having to type it out.

Trying to add this to "My Favourites." I think you have to have posted on a thread before it will work, so, this is a test.

Rift need to be above 8p to be certain of flow rates that are excessive and this will come quickly.

oily, but what have those stocks done during the yr?. Easy to rise over a month if they have fallen 50/60/70% over the yr.

Yes lizard I agree fully that they have probably fallen considerably more than last months rise, but to keep it in context, this was posted in response to a statement that no stocks were rising at the moment.

With regard to annual risers, The best selections in the challenge are;

EEL EQUATOR 178% CURRENTLY SUSPENDED.
ROS RAMCO ENERGY 124%.
TEP TELECOM PLUS 94%.
MIRL MINERA 72%.
EEN EMERALD ENERGY 63%.
BGC BTG 58%.
VTI VIROTEC INTL 54%.
GOC GLOBAL OCEANIC 53%.

There are another 18 stocks with over 20% gains.

I hasten to add that I selected none of these and I do not hold any of them either, mores the pity.