This increases the area in which Rift Oil has a significant interest to approximately 7,000 sq km.
Chairman, Ian Gowrie-Smith, said: "This is an important development for Rift Oil. PPL 261 is on the migration pathway to PPL 235 in which we discovered potentially significant reserves of gas with Douglas-1. The granting of this new license materially increases our acreage in this new gas province."
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