RIFT OIL, Drilling for Oil in Papua New Guinea

RNS Number:3887O
Rift Oil PLC
21 December 2006


For Immediate Release 21 December 2006



Rift Oil PLC

("Rift" or the "Company")

Interim Results for the six months ended 30 September 2006

Rift Oil PLC (AIM : RIFT), the oil and gas exploration company with assets in
Papua New Guinea, is pleased to announce its interim results for the six months
ended 30 September 2006.

Summary of key points:

* Successful application notified by Government of Papua New Guinea for
PPL261, 50/50 venture with Austral Pacific

* Strengthening of Board with appointment of Dr David Bennett as a
non-executive director

* Awaiting processing results from 54km of seismic data

* Also awaiting study defining commercialisation strategy for gas
discovery at Douglas 1 well (PPL 235)