Rift Helium Regulatory News (RIFT)

1 May 2009 07:00



Rift Oil Plc ("Rift" or "the Company")

New Appointments to the Board

Rift Oil PLC (AIM: RIFT), the oil and gas exploration company with assets in Papua New Guinea, is pleased to announce the following changes to its Board with immediate effect.

Rift Oil announces the appointment of Mr Kisakiu Posman, (aged 53), as a Non-Executive Director replacing the late Sir Ebia Olewale. 

Mr Posman is a senior partner in Port Moresby based firm, Posman Kua Aisi. He has many years experience in the PNG legislature and industry, and holds a Masters in Law from the University of Ottawa, Canada.

Mr Posman brings a wealth of experience in Papua New Guinea oil and gas sector to Rift and we are very fortunate to have someone of his stature from PNG on our board.

The companies of which Kisakiu Posman has been a director in the past five years are as follows: 

Fikor Ltd

Umai Ltd

Comrade Trustee Services Ltd

MCC Ramu NiCo Ltd

Ramu NiCo Management (MCC) Ltd 

Posman Kua Aisi Lawyers

Banora Trading Limited

Peter Wright has also been appointed as Group Finance Director replacing David Lees who will remain on the Board as a Non-Executive Director.

Mr Wright, (aged 40), has held the position of Group Financial Controller since joining the Company in January 2007. Mr Wright is also a Director of Triple Plate Junction Plc. 

There are no further details required to be disclosed pursuant to schedule two, paragraph (g) (i) to (viii) of the AIM Rules.

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