Rift Helium Regulatory News (RIFT)

26 May 2006 09:52

Rift Oil PLC26 May 2006 For immediate release 26 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 total depth of 1,978 metres and drilling operations areset to cease shortly. The target sands were encountered over a significantinterval. Wireline logs will be run immediately. 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