Rift Helium Regulatory News (RIFT)

11 May 2006 12:13

Rift Oil PLC11 May 2006 For immediate release 11 May 2006 Rift Oil PLC ("Rift" or "the Company") Douglas-1 Update Rift Oil PLC (LSE :RIFT), wishes to update the market concerning progress withthe Douglas-1 exploration well in Papua New Guinea. Drilling has reached a depth of 1280 metres and we are now lining the hole andcementing before drilling recommences. Results of all tests to date on the holeare in line with expectations. Within two days we expect to start drilling downto the primary reservoir targets which are between 1700 and 2000 metres. A further report on the progress of the Douglas-1 well will be released as soonas is practicable. For further information please contact: Rift Oil plc 020 7499 1400David Lees, Finance Director Buchanan Communications 020 7466 5000Tim AndersonBen Willey Notes to the Editors Rift listed in London on the AIM market, floating on the 19th April 2006. Riftholds 65% of both PPL 235 and the drilling rig, the Coral Sea-1. Peter Mikkelsen FGS, AAPG, as the qualified non-executive Director has reviewedthis statement and authorised its release. This information is provided by RNS The company news service from the London Stock Exchange