Notification of Major Interest in Shares

For immediate release

5 August 2009

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

RIFT OIL PLC

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

YES

3. Full name of person(s) subject to notification obligation:

ASSET VALUE INVESTORS LTD

4. Full name of shareholder(s) (Registered Holders)

StateStreet Nominees

Chase Nominees

BoNY Nominees

Mellon Nominees

NorTrust Nominees

5. Date of transaction (and date on which the threshold is crossed or reached if different):

03 August 2009

6. Date on which issuer notified:

05 August 2009

7. Threshold(s) that is/are crossed or reached:

 10%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB00B05HSB23

Ordinary Shares

105,581,625

101,045,859

80,581,625

77,119,854

0

9.26%

0%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N / A

Total (A+B)

Number of voting rights

Percentage of voting rights

77,119,854

9.26%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

. 

14 Contact name:

Asset Value Investors Limited

Daniel Sadler

15. Contact telephone name:

0207 647 2919