Share Name Share Symbol Market Type Share ISIN Share Description
Rift Oil LSE:RIFT London Ordinary Share GB00B05HSB23 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 13.00p 0.00p 0.00p - - - 0 06:37:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 108.29

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Date Time Title Posts
06/7/201516:07Rift Oil (Gas) - Heading for production in PNG15,957
19/5/200912:59Rift oil set to soar-
19/5/200910:03Rift oil set to soar1
18/5/200917:50Rift oil set to soar-

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lr2: OM, major oil find by COP announced today but well suspended due to hole conditions. If COP revisit soon and sidetrack successfully this should make a significant impact on the share price. Keep a careful watch on this one. "Using known reservoir and fluid parameters from equivalent formations in the Gulf of Hammamet, the internally estimated most likely recoverable prospective resources discovered by the EMD-1 well are approximately 100 MMBO." HTTP:// P.S. I expect OEX to produce good Cambay 77-H oil / gas flow figures within 3 weeks.
p3dr036: Look at Medusa Mining, chaps!! See This is a narrow vein miner which is actually producing gold now [i.e. not setting up a mine with production years away!] No debt! And ISA-able! All-in cash costs per oz of gold = sub $400/oz!! Medusa was producing circa 100K oz/year till mine re-development programme began in past couple of years. The mined gold output went down as they drilled deeper with comensurate reduction in ore quality. Now returning to full production after re-development programme completed. Currently producing at circa 75-80K ozs/year and expected to produce 100-150K ozs in current year with probably even lower cash costs. I have held since April 2009 when share price was 80p!! Share Price was + 500p in 2011. The share price went down to 90-100p during the re-development programme [vastly oversold but a buying opportunity!!]. It is currently been 125-130p and I have been buying more recently. I feel it has been wrongly downgraded by the market due to current gold price and general market malaise. BUT!! Gold price $1300/oz - Cash cost $400/z = $900/oz clear profit!! No brainer in my opinion and worth a punt as the share price will not remain where it is for much longer. Quarterly statement due out soon and MML should motor away. Worth a serious look! Peter
manulad: Buy recommendation initiated at 21.6p IGS interview on Kea
offerman: Result of Court Meeting and GM Results TIDMRIFT TIDMAN26 RNS Number : 8880V Rift Oil PLC 17 July 2009 ? NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 17 July 2009 Recommended acquisition of Rift Oil PLC ("Rift") at 13 pence per Rift Share by Talisman Energy Holdings Ltd. a wholly owned subsidiary of Talisman Energy Inc. ("Talisman") Result of Court Meeting and General Meeting Rift announces that at the meeting convened by the court and held earlier today, 17 July 2009 (the "Court Meeting"), and at the subsequent General Meeting (the "GM") to approve the scheme of arrangement (the "Scheme") to implement the offer to acquire Rift by Talisman (the "Acquisition"), all of the resolutions were approved by the necessary majorities. Voting results The voting results in relation to the Court Meeting and the GM are summarised below: COURT MEETING Number of Rift Shareholders: FOR: 216 (92.7%), AGAINST: 17 (7.3%) representing the following number of votes: FOR: 513,226,748 (99.84%), AGAINST: 831,829 (0.16%) representing the following percentage of issued shares: FOR: 61.8%, AGAINST: 0.10% Number of Rift Warrantholders: FOR: 11 (100%), AGAINST:0 (0%) representing the following number of votes: FOR: 26,416,666 (100%), AGAINST: 0 (0%) GM The special resolution to give effect to the Scheme was passed unanimously on a show of hands at the GM. The Acquisition remains subject to the terms and conditions set out in the Scheme Document. The Scheme will not become effective and the Acquisition will not be completed unless the conditions set out in the Scheme Document have been satisfied (or, if capable of waiver, waived) by 5.00 p.m. (London time) on 30 October 2009, or such later date as Talisman and Rift may agree and (if required) the Court may approve. Enquiries: +-----------------------------------------------+-------------------------------------------------------------+ | Rift Oil PLC | | +-----------------------------------------------+-------------------------------------------------------------+ | Ian Gowrie-Smith | +44 (0) 20 7340 9970 | | David Lees | | +-----------------------------------------------+-------------------------------------------------------------+ | | | +-----------------------------------------------+-------------------------------------------------------------+ | RBC Capital Markets Limited | (Financial Adviser and Nominated Adviser to Rift) | +-----------------------------------------------+-------------------------------------------------------------+ | Sarah Wharry | +44 (0) 20 7653 4667 | | Louise Mooney | | +-----------------------------------------------+-------------------------------------------------------------+ | | | +-----------------------------------------------+-------------------------------------------------------------+ | Seymour Pierce | (Rule 3 Adviser to Rift) | +-----------------------------------------------+-------------------------------------------------------------+ | Jonathan Wright | +44 (0) 20 7107 8000 | +-----------------------------------------------+-------------------------------------------------------------+ | | | +-----------------------------------------------+-------------------------------------------------------------+ | Buchanan Communications | (Public Relations Adviser to Rift) | +-----------------------------------------------+-------------------------------------------------------------+ | Tim Anderson | +44 (0) 20 7466 5000 | +-----------------------------------------------+-------------------------------------------------------------+ | Isabel Podda | | +-----------------------------------------------+-------------------------------------------------------------+ +-----------------------------------------------+-------------------------------------------------------------+ | Talisman Energy Inc. | | +-----------------------------------------------+-------------------------------------------------------------+ | David Mann | +1 403 237 1196 | | Christopher J. LeGallais | +1 403 237 1957 | +-----------------------------------------------+-------------------------------------------------------------+ | | | +-----------------------------------------------+-------------------------------------------------------------+ | Tristone Capital Limited | (Financial Adviser to Talisman and Talisman Holdings) | +-----------------------------------------------+-------------------------------------------------------------+ | Nick Morgan | +44 (0) 20 7355 5800 | | Chris Beltgens | | | Ben Colegrave | | +-----------------------------------------------+-------------------------------------------------------------+ | | | +-----------------------------------------------+-------------------------------------------------------------+ The Rift Directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Rift Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Royal Bank of Canada Europe Limited, which trades as RBC Capital Markets and which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as financial adviser to Rift and no one else in connection with the Acquisition and will not be responsible to anyone other than Rift for providing the protections afforded to clients of RBC Capital Markets or for providing advice in relation to the Acquisition or any other matters referred to in this document. Seymour Pierce Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as financial adviser to Rift and no one else in connection with the Acquisition and will not be responsible to anyone other than Rift for providing the protections afforded to clients of Seymour Pierce or for providing advice in relation to the Acquisition or any other matters referred to in this document. Tristone Capital Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as financial adviser to Talisman and Talisman Holdings and no one else in connection with the Acquisition and will not be responsible to anyone other than Talisman and Talisman Holdings for providing the protections afforded to clients of Tristone Capital or for providing advice in relation to the Acquisition or any other matters referred to in this document. The release, distribution or publication of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about and observe any applicable requirements. Copies of this announcement and any documentation relating to the Acquisition are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any Restricted Jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send such documents in or into or from a Restricted Jurisdiction. If the Acquisition is implemented by way of the Offer, (unless otherwise determined by Talisman Holdings and permitted by applicable law and regulation) it will not be made, directly or indirectly, in or into, or by the use of the mails, or by any means of instrumentality (including without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of any Restricted Jurisdiction, and the Offer will not be capable of acceptance from or within any Restricted Jurisdiction. Talisman reserves the right to implement the Acquisition by way of an Offer, in which case additional documents will be despatched to Rift Shareholders. Further details are set out in the Scheme Document. Words and expressions defined in the Scheme Document shall, unless the context provides otherwise, have the same meanings in this announcement. APPENDIX Expected timetable of principal events* +-----------------------------------------------------+---------------------------+ | First Court Hearing to sanction the Scheme | 6 August 2009 | +-----------------------------------------------------+---------------------------+ | Last day of dealings in Rift Shares | 7 August 2009 | +-----------------------------------------------------+---------------------------+ | Dealings in Rift Shares suspended in London | 5.00 p.m. on 7 August | | | 2009 | +-----------------------------------------------------+---------------------------+ | Scheme Record Time | 6.00 p.m. on 7 August | | | 2009 | +-----------------------------------------------------+---------------------------+ | Second Court Hearing to confirm the Reduction of | 10 August 2009 | | Capital | | +-----------------------------------------------------+---------------------------+ | Effective Date of the Scheme | 10 August 2009 | +-----------------------------------------------------+---------------------------+ | Despatch of cheques and settlement through CREST | By 24 August 2009 | +-----------------------------------------------------+---------------------------+ * These dates are indicative only and will depend, among other things, on the date upon which the Court sanctions the Scheme and whether the Conditions are satisfied or (if capable of waiver) waived on or prior to such date. All references to times are to times in London (unless otherwise stated). Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 'interested' (directly or indirectly) in 1 per cent. or more of any class of 'relevant securities' of Rift, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 p.m. (London time) on the Business Day following the date of the relevant transaction. This requirement will continue until the Scheme becomes effective, lapses or is otherwise withdrawn or on which the 'Offer Period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Rift, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Rift by Talisman Holdings or Rift, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Panel's website at 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock Exchange END MSCRRMJTMMBBBLL
steelwatch: June 22, 2009 Rift Oil's Board Accepts All Cash Offer From Talisman Energy For the Company As The Best Way To Take Its Gas Assets On Papua New Guinea Forward Ian Gowrie Smith, Chairman of London listed Rift Oil made a long statement about the takeover of his company. But one sentence sums up why he was pleased the deal had gone through. He said: "The Board of Rift Oil are pleased that years of investment and hard work have culminated in this offer for the company at a price we believe suitably rewards shareholders. It is time for those with more significant resources to take over the challenge of development and commercialisation". Two years ago the oil and gas exploration company raised £11 million at 3 3/4p a share to open a new energy business in Papua New Guinea, having been brought to the London junior AIM market in 2006. Last week, the company was bought for £114.8 million cash or 13p a share, a 30 per cent premium to the share price close on June 15 2009, by Talisman Energy, an independent oil and gas producer listed in Toronto and New York. The cost of operating in a frontier area like PNG, trying to move from virtually nothing, in what is effectively the middle of nowhere, to commercial sales, can be great, and a task only suitable for those with real staying power and deep pockets. Had the company found oil the story might have had a slightly different outcome. Oil is an internationally traded commodity. But Rift found gas and gas means terminal markets, needing either pipelines or, if turned into liquefied natural gas (LNG), expensive infrastructure to get it to consumers. For some time things ticked along nicely. The company discovered unrisked mid- case (P50) reserves of 800 billion cubic feet of gas on its 100 per cent owned PPL 235 licence largely through the successful Puk Puk exploration exercise. On the back of this success, Rift was able to sign a Memorandum of Understanding (MoU) with a potential customer near Darwin in Australia 950 km across the sea. Rift would supply Alcan South Pacific's Gove Alumina processing plant in the Northern Territory with gas from its discoveries for a period of 20 years, subject to a pipeline being built. But shortly thereafter things started to get more complicated. Buoyed by the MoU with Alcan Rift started to look for extra gas. And during the course of 2008 it had further drilling successes with more gas from Puk Puk and also from the Douglas and Langia prospects, again on licence PPL 235. This resulted in an upgrade of its mid- case unrisked reserves to 2.2 trillion cubic feet of gas. Gowrie Smith said that this tripling of possible resources made a committed field of only 40bcf per annum, which the Alcan deal would have meant "economically unattractive". Moreover, about the same time (mid 2008) Rio Tinto acquired the aluminium group for US$44billion. Mr Gowrie Smith said that he was left to believe Rio had big reserves of low grade coal in Queensland, which could be shipped to the Gove plant. The new reserves implied Rift could produce 100 bcf per annum and this made the idea of a LNG project appealing. Accordingly in June 2008 Rift signed another MoU with Flex LNG to progress the concept of developing a floating liquefied natural gas offtake opportunity for Rift's gas. The trouble is that FLNG is still a fairly novel concept in the gas export business that will take time to mature. It was thought it could take anything between US$500 million to US$900 million on infrastructure to get gas to the ships. At this point, in the last quarter of 2008, the markets began to turn difficult and credit became hard to come by. Rift announced it had entered into a formal process with RFC Group and RBC to review the strategic alternatives available to it. Following a comprehensive process, during which a broad range of parties were contacted, Rift announced on May 5 2009, that it had received a proposal from a major multi-national oil company to fund the drilling of up to four wells and 100 km of seismic on its PPL 235 licence in return for a significant equity interest in the licence. Rift would retain 100 per cent of the rights to the adjoining licence PPL 261, which the Rift Board has always regarded as highly prospective. Given that the cost of drilling and testing one well on the acreage in Papua New Guinea equates to between US$15 and US$18 million , this meant a very significant deal was in the offing. But then, following the announcement made on May 5 Rift received an approach from Talisman, who had been contacted as part of the formal strategic formal review, outlining an indicative offer to acquire the entire issued share capital of the company at the substantial premium to the prevailing share price. Given there was a proposal already in contemplation with the major multi-national oil company, the Rift board had to consider a number of factors. To fully exploit the company's assets in PNG Rift would be obliged to raise substantial amounts of capital either from the capital markets or industry partners in the future. Because of the challenging economic environment and depressed state of the capital markets Rift felt there would be limited appetite from investors to support Rift throughout the exploration and development phase of its work programme. Also any funding from industry partners would reduce Rift's interest in the assets and any ultimate return to Rift shareholders. So the Talisman deal has gone through as the best on the table. But David Blackwell the Financial Times Aim specialist adds an interesting footnote. He says: "Investors of an optimistic bent will look at the winnings. But if tempted to reinvest the proceeds in other AIM exploration companies they should remember that without the Alcan memorandum, Rift would not have drilled further. The company's backers would have been left with what is known as "stranded gas", miles from anywhere and worth little. Such is the fine line between failure and success". Quite
lgw: t-traders... and previously their leaving would have had a dire effect on the Rift share price but not now.. very positive change in sentiment here imo.
snowman88: ok, seems to be crossed wires here about 'Pump n Dump' and just simply the odd individual person day trading. You are always going to get people buying a share as it goes up, then are happy to make 10% in a day, and thats fine and logical trading, especially in a share that looks like having a general uptrend in the near future. A Pump n Dump is a sustained buying activity in any share where the price can be moved substantially, and relatively easily for a large gain by a large number of people, usually involving a large amount of cash. Rift share price is not easily moved due to the large number of shares in issue.. 3 people buying £5k of stock is nothing like a pump n dump, merely a couple of traders happy with their 10%. Lets not argue, - if you are long like most of us, you will want this to do well. Good luck all.
p3dr036: BD - Frankly we are wasting our time in speculating what RIFT may or may not do. It is fun but that is all it is as the company won't care a toss what those on this board say.. Here's another slant on your Alcan scenario. If RIFT are confident that the total resource well exceeds the Alcan requirement. They could go into a more solid agreement with them in exchange for enough cash to drill two or three wells on PPL235 to prove there actually is more than enough to meet the Alcan need. Result: 1. Good source of cash at a reasonable cost to RIFT 2. Confirmation [hopefully] of what gas/condensate [even oil] actually lies under PPL235. 3. Enhancement to the RIFT share price. 4. Confirmation to Alcan that their deal will go ahead! Just another thought! Peter
p3dr036: A disappointing result following excellent news. But I suppose it would have been a surprise, in the present climate, if the share price had risen on the news and then STAYED up. The RIFT share price has in my view merely mirrored what virtually every other share price has done. We also are seeing, in my view, profit taking by those who bought at around or even below 3p recently [e.g. early on 13-10]. They were able to take some very nice profits at around 4.75p [mid morning yesterday] or below later on that day. However I did note one slight negative comment in the latest news where it said: "Additional tests on condensate levels and composition continue, with condensate levels appearing lower than earlier expectations." [15-10-08] Note "LOWER" So perhaps RIFT were over confident in their 21-7-08 statement which said: "The indications of substantial quantities of oil condensate could make the economics of extraction much more attractive." [21-07-08] So: "substantial" then "lower" now. We are a week away from the AGM in London. Perhaps we may hear a bit more in the post AGM announcement. I reckon we will have a pretty long wait before we see +6p again with RIFT. But, barring unforseens, it should happen and long term holders should be rewarded in the end. PG
p3dr036: Copied from the RIFT website just now [gives the actual number of shares in issue and major shareholders: ============QUOTE========= COMPANY SHAREHOLDER INFORMATION Shares in issue - 795,838,680 [ramu231's post 1892 above is wrong - added by PG] Free float/Shares not in public hands - 220,223,672 (Percentage of shares free float - 27.67%) Significant shareholders in the company are listed below: Thornaby Limited - 10.00% [this is the IG-S holding - added by PG] c/o Burns House, 19 Town Range, Gibraltar Ocarina Investments Limited - 7.69% [this is the D Lees holding - added by PG] PO box 702, Centurion House, Beresford Street, St. Helier, Jersey, JE4 0PG Indusprojet Establishment - 5.03% EL 9490 Vaduz, Meierhofstrasse 2, PO box 184, Furstentum, Liechtenstein Pershing Keen Nominees Limited - 5.08% Capstan House, One Clove Crescent, East India Dock, London, E14 2BH ====UNQUOTE============= The last two holdings are not shown in the list from ShareScope that I posted earlier - but as I said before, I think the ShareScope list is incorrect as it double stated the IG-S and DL holdings. I post this to assist if someone wants to try to work out a possible NAV [Nett Asset Value] for a company which appears to have a 2 trillion cu ft [at least!] gas resource with possible condensate with [perhaps] some oil !!! This is my effort: 1. At today's 10p, RIFT's current NAV is £79,583,680.00 [Shares in issue x 10p] 2. 6000 cuft of gas = 1 barrel of oil equivalent [Industry standard factor rounded up] 3. 2 trillion [10 to the twelfth] cu ft of gas equates to 333 billion [10 to the 6th] barrels of oil equivalent [2/6000 of 1 times 10 to the 12]. 4. The "value" of 1 barrel of oil in the ground can seen to be be anywhere from £1 to £10 if you look at different companies valuations. Let's assume a really low value of 50p for RIFT's barrel of oil equivalent. 5. So a possible Nett Asset Value for RIFT's resource could be therefore be £166 billion spread over 20 years [say] or an average of some £8 billion. This seems a ridiculously high figure to me. So I've obviously boo-booed somewhere. But I can't see where so far. Even if I am out by a factor of ten or even 100 What it seems to prove to me is that that present RIFT share price will not remain where it is for much longer and needs to rise ten fold to even begin to meet the potential value of the resource that RIFT appear to be sitting on top of. Hope this provkes a check of my maths!! Cheers all PG
Rift Oil share price data is direct from the London Stock Exchange
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