Oil

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Oil Gas Exploration Development in the
Papuan Foreland Basin of Papua New Guinea.
Oil Gas Exploration Development in the Papuan
Foreland Basin of Papua New Guinea.
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CORPORATE

• ? London AIM Stock Exchange RIFT April 2006
• ? Corporate office The Sanctuary London, UK
• ? Operations office Port Moresby, PNG.
• Total number shares 360 million
• Market Capitalisation GBP 12m
• Av. monthly volume traded 10 million
• No debt

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DIRECTORS

• ? Ian Gowrie-Smith Chairman
• Ian has been the founder and developer of mining
  and pharmaceutical public companies, including
  Medeva and SkyePharma, in 1984 he listed TiO2
  Corp and is Chairman of Tiberon Minerals Ltd and
  Triple Plate Junction Plc.
• Jenni Lean Chief Executive Officer
• MBA BSc, Formerly Commercial Manager for Austral
  Pacific, 12 years experience in oil and gas in
  PNG, Australia and New Zealand. Chairman of
  Epiphany Games.
• David Lees Finance Director
• Chartered Accountant Co-founder of Medeva and
  SkyePharma. Currently Director of Triple Plate
  Junction PLC, Accident Exchange PLC, Deal Group
  Media PLC, Metis Biotechnologies PLC, NamesCo and
  Network Estates.

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DIRECTORS

• ? Peter Mikkelsen
• 29 years of upstream oil industry experience,
  including 15 years at Exploration Manager /
  Director level. In the last four years Peter has
  had experience in North West Europe, the
  Mediterranean, N W Africa, the Caribbean and
  the U.S.
• ? Sir Ebia Olewale
• Former Deputy Prime Minister of PNG. Chancellor
  of University of Goroka and Director of the PNG
  Sustainable Development Programme.
• ? Dr David Bennett
• 25 years experience in exploration around the
  Pacific Rim including more than 15 years
  involvement in the Papuan foreland basin.
  Formerly exploration manager NZOG and Chief
  Executive of Austral-Pacific Energy Ltd.).
  Currently director of an Indonesian Oil and Gas
  company and Trans Orient Petroleum Ltd. listed in
  the United States.

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LONDON OFFICE

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DIRECTORS

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PPL 235 and PPL 261 location
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• PPL 235 65 interest Operator
• PPL 261 50 interest Operator
• APPL 289 100 interest

Rift Oil PLC Licences Applications in Papua
New Guinea
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PPL 235 DOUGLAS DISCOVERY

• Licensees 65 Rift Oil PLC Operator
• 35 Austral Pacific
• Area 2,910 km2
• Award date 29-Aug-03
• Duration 6 years currently in year 4

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PPL 261 NEW LICENCE

• Licensees 50 Rift Oil PLC Operator
• 50 Austral Pacific
• Area 3,800 km2
• Award date November 2006
• Duration 6 years

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Landowner Meetings

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Landowner Meetings

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Longyear Rig in Salt Lake City

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Charter vessel from USA
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Yavo port

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Douglas well site

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Douglas Rig Base

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Goada Chief first charter
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Goada Chief second charter

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Yavo port

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Douglas Rig site
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Rift Oil Community Work - Malaria

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Rift Oil Community Work - Malaria

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Rift Oil Community Work- Dental

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Rift Oil Community Work- Medical

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Rift Oil Community Work Solar Cookers

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Rift Oil Community Work

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Rig site- cooks

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DIRECTORS AT DOUGLAS SING SING
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Douglas Gas Discovery

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Papuan Basin Stratigraphy
Douglas-1 Target
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PPL 235 Main Prospects
Puk Puk
Douglas Closure to 1340ms
Douglas-1 ST1
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Composite Seismic Line
Langia-1
Douglas-1 ST1
Puk Puk-1 (proposed)
Darai
Ieru
Douglas Prospect
Puk Puk Prospect
Toru
Basement
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DOUGLAS-1 GAS DISCOVERY

• The well reached a total depth of 1,978 metres on
  Friday 26th May.
• Wireline logs indicate that the well intersected
  two gas bearing columns.
• The first in the Alene sand from 1,785 metres to
  1,789 metres (4 metres gross 4 metres net)
• The second in the Toro sand from 1,838 metres to
  1,855 metres (17 metres gross 12 metres net).
• Formation pressure measurements were also
  recorded, which demonstrate very good quality
  reservoir.

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Douglas-1Alene Gas Pay
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Douglas-1 Toro Sst Gas Pay

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Douglas-1 ST1 MFT Data

• Good quality data from pressure survey
• 12 points in the gas legs
• 12 water leg points
• Very high mobilities observed (up to 4000 md/cp)
• Allows good estimates of fluid types and contacts
• Pressure in Toro at 2560.5 psia at 1750 mTVDSS

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CURRENT WORK

• 54 km of new 2D seismic was acquired in July 2006
  and is now processed.
• This confirms the Puk Puk Prospect as ready to
  drill identifies appraisal well locations on
  the Douglas Field.
• Upstream Petroleum have been commissioned to
  conduct a feasibility study for gas
  commercialisation.

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2006 Seismic Line Puk Puk B
Puk Puk max closure
NE
SW
Note Bulk Shift of -0.035 msec applied
Strong gas effect in Toro and gas chimney to SW
coincide with maximum closure
Also gas effect on subsidiary northern block
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PPL 235 Puk Puk top Toro
CI 5msec
2 km
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PPL 235 Douglas top Toro
Far N
N
Aiema
CI 5msec
Minimum (Proven)
Most Likely
Main
Maximum
2 km
SE
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FURTHER DISCOVERY POTENTIAL IN PPL 235

• Douglas-1 is located downdip from the crest of
  one of three structural highs that comprise the
  Douglas Field.
• Other defined prospects within the permit
  constitute significant follow-up potential.
• Seismic mapping of the Douglas structure
  indicates a large closure, measuring some 50
  sq.km in area.
• Together with the other structures in PPL 235,
  this could be a significant new gas province.

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FURTHER PROSPECTS AND LEADS IN PPL 235
Douglas-1 ST1
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Disclaimer

• This presentation includes certain statements
  that may be deemed to be "forward-looking
  statements" within the meaning of applicable
  legislation. Other than statements of historical
  fact, all statements addressing future
  production, reserve potential, exploration and
  development activities and other contingencies
  are forward-looking statements. Although
  management believes the expectations expressed in
  such forward-looking statements are based on
  reasonable assumptions, such statements are not
  guarantees of future performance, and actual
  results or developments may differ materially
  from those in the forward-looking statements, due
  to factors such as market prices, exploration and
  development successes, continued availability of
  capital and financing, and general economic,
  market or business conditions.
• Readers are invited to consult Rift Oil plc's
  reports as filed, for a further discussion of the
  various factors affecting the Company and its
  business.

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RIFT OIL GROWTH STRATEGY

• Realise the core investment
• Commercialise Douglas gas ASAP
• Develop and enhance core business
• Explore and commercialise PPL 261 and APPL 289
• ? Create new growth
• Mergers and acquisitions-new venture
  opportunities in development and exploration
  projects
• END