Welcome to Rift Oil PLC
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 - 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...
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Related Documents
- RPS Energy Report
- Drilling to commence at Puk Puk-1
Rift Oil Plc (“Rift”), the oil and gas exploration company with assets in Papua New Guinea (“PNG”), is pleased to advise that drilling of Puk Puk-1 will commence on 10th May 2008. This is a major milestone in the development and exploitation of the Douglas gas discovery area in PPL 235, PNG, via its wholly owned subsidiary, Foreland Oil Limited.
- Notifiable Interest 27 Mar 08
Notifiable Interest 27 Mar 08 Pdf document added
- Interim Report - for the six months ended 30 September 2007
- Rift Oil Plc -Twisting by the (Gas) Pool
Royal Bank of Canada Europe Limited - Rift Oil Report.
- RBC - Rift Oil Report
Royal Bank of Canada Europe Limited - Rift Oil Report, DECEMBER 11, 2007.
- Placing of up to 293,333,333 New Ordinary Shares
Rift Oil PLC (AIM : RIFT), the oil and gas exploration company with assets in Papua New Guinea, is pleased to announce a proposed placing to raise £11m.
- Preliminary Results for the Year ended 31 March 2007
Rift Oil PLC (AIM : RIFT), the oil and gas exploration company with assets in Papua New Guinea, is pleased to announce its preliminary results for the year ended 31 March 2007.
- Change of Broker and Nominated Adviser
Rift Oil PLC, announces the appointment of RBC Capital Markets (“RBC”) as Nominated Adviser and broker to the Company with immediate effect.
- Alcan release - 20 March 2007
Rift Oil PLC (LSE: RIFT), is pleased to announce that a non binding MOU with Alcan South Pacific has been concluded with its wholly owned subsidiary Foreland Oil Ltd.
- Share Placing Raises £1.425m
The Directors are pleased to announce that application will be made for admission to trading on AIM for 47,500,000 new ordinary shares of 1p each, to be allotted by way of subscription at 3p per share to raise £1,425,000.
- Douglas Gas-Condensate Field : 2007 Appraisal and Development Strategy
Douglas Gas-Condensate Field : 2007 Appraisal and Development Strategy
- Board Appointment
Rift Oil PLC is pleased to announce the appointment of Dr David John Bennett as a non-executive director to the Board of the Company with immediate effect.
- Accepted offer from the Ministry of Petroleum and Energy in Papua New Guinea
- Annual Report and Accounts 2006
- Preliminary Results for the Year ended 31 March 2006
Rift Oil PLC (AIM : RIFT), is pleased to announce its preliminary results for the year ended 31 March 2006.
- RIFT OIL PLC ANNOUNCES GAS DISCOVERY AT DOUGLAS-1 WELL
Rift Oil PLC (LSE : RIFT), is pleased to announce a gas discovery on the wildcat exploration well Douglas-1, located in the area PPL 235 of Papua New Guinea(“PNG”). Rift has a 65% interest and its joint venture partner, Austral Pacific Energy Ltd. a 35% interest in Douglas-1. The discovery has been deemed by the operator Austral Pacific Ltd. to warrant casing and production testing.
- Douglas-1 Update
Rift Oil PLC (LSE :RIFT), wishes to update the market concerning progress with the Douglas-1 exploration well in Papua New Guinea.
- Drilling Update
Drilling ahead at 1200 metres depth in Douglas-1, PPL 235, Papua New Guinea
- RIFT OIL PLC
Placing of 22,200,000 Ordinary Shares of 1p each at 5p per share Admission of the Enlarged Share Capital to trading on AIM