Executive Summary
Rift Oil plc is engaged in oil and gas exploration in Papua New Guinea. Rift was established in November 2004 to acquire a 65% interest in an oil and gas exploration licence in western Papua New Guinea. It acquired this interest in December 2004 through its subsidiary Foreland Oil Limited ("Foreland Oil"), in return for a commitment to spend US$6 million (approximately £3.2 million) on exploration and development.
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