• Rift Basin Announces CSE Listing and Name Change August 19, 2014

    Vancouver, B.C., August 19, 2014 – Rift Basin Resources Corp. (TSX-V: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce that the Canadian Securities Exchange (the "CSE") has approved the listing of the Company's common shares on the CSE (the "CSE Listing").

    To ensure continued and seamless trading for the Company's shareholders, the Company has requested and obtained approval to delist its common shares from the TSX Venture Exchange at the close of trading on Friday, August 22, 2014 and will commence trading on the CSE at market open on Monday, August 25, 2014 (the "CSE Listing Date").

    The Company also announces that, immediately prior to market open on the CSE Listing Date, it will effect a name change to “Asean Energy Corp.” As such, the CSE Listing of the Company's common shares will be under the new name of "Asean Energy Corp." and the trading symbol "ASA". The Company’s new CUSIP number will be 04366T106 and the new ISIN will be CA04366T1066.

    Wayne Koshman, CEO, stated, "the Company’s board of directors and management team have concluded that it is in the best interest of the Company and its shareholders to list the company's shares on the CSE, and rename the Company to more clearly portray our focus on Southeast Asian energy projects. We believe that the CSE provides a more efficient, flexible and entrepreneurial platform to move the Company’s business forward, as we continue to build value on behalf of our shareholders."

    Update on legal claim

    Further to the Company’s July 16, 2014 news release, Rift Basin has filed and served a Response to Civil Claim and Counterclaim upon Messrs. Zein and Farran, (the “Plaintiffs”). In addition, counsel has been instructed to seek security for costs for our defence of this matter, as the Plaintiffs reside outside of this jurisdiction and have no substantial connection to British Columbia. The Company’s counterclaim seeks, among other things, an interlocutory and permanent injunction enjoining the Plaintiffs from continuing to defame Rift Basin and general and special damages for defamation and breach of contract.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company has recently qualified to become an oil and gas issuer, and has been approved for listing on to the CSE. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither the Canadian Securities Exchange, TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Farmin & Participation Agreement July 24, 2014

    Vancouver, B.C., July 24, 2014 – Rift Basin Resources Corp. (TSX-V: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce that it has entered into a definitive farmin and participation agreement (the “Farmin Agreement”) pursuant to which the working interest owner of an oil project (the “Farmor”) has provided the Company with the right to earn an undivided 50% working interest in the Farmor’s producing heavy oil project located in Saskatchewan, Canada (the “Project”).

    The project is supported by a resource report prepared in accordance with National Instrument 51-101 – ‘Standards of Disclosure for Oil and Gas Activities’, providing an ‘Evaluation of Reserves and Prospective Resources’ as at September 1, 2011.

    The Project consists of eleven heavy oil wells plus one revenue-generating waste water disposal well, located in a proven energy rich geographical area with significant untapped upside potential. The waste water disposal well that is located on site has the capacity to handle waste water from the Farmor’s own wells, and to generate revenue from other companies in the area. The wells present an opportunity to maximize production and profits through the application of new and enhanced oil recovery technologies, and are complimentary to the Company’s shallow well redevelopment activities in Indonesia.

    In accordance with the terms of the Farmin Agreement, the Company will earn an undivided 50% working interest in the Project upon the following terms:

    (a) $10,000 payment to the Farmor upon execution of the Farmin Agreement (paid);

    (b) as mutually agreed to by the Farmor and the Company on or before February 1, 2015, the Company commences and completes a reactivation program (the “Reactivation Program”) with the objective of increasing production of certain wells and/or reactivation of existing wells, and

    (c) provided the Company has fulfilled its obligations pursuant to the Reactivation Program and is not in default of any term or condition of the Farmin Agreement, the Company shall have earned a fifty percent (50%) working interest.

    The Acquisition is subject to applicable regulatory approval as required. There can be no assurance that the Company’s obligations under the Reactivation Program will be agreed to or completed as proposed or at all.

    Indonesian Operations

    Rift Basin’s primary focus and operations continue to be in Indonesia. The Company and Grosco International Sdn. Bhd. (“Grosco”) are proceeding under the terms of their Participation Agreement, whereby Grosco is funding secondary and enhanced oil recovery methods to develop wells in compliance with contractual obligations with state oil company PT Pertamina EP.

    Additional well selection has been undertaken by Dr. Didit Hadianto, a former director of PT Pertamina and current professor at Institute Technical Bandung (Indonesia’s top technical university). An initial 10 wells have been selected for development in the Dandangilo Wonocolo field, with 3 selected pilot wells. A further 14 wells have been selected in the nearby Ngrayong field. These 24 wells have been prioritized on a technical basis from several hundred historical wells. Additional wells are available, subject to additional data available from Lemigas being reviewed by our team.

    The Company will provide further updates respecting these initiatives as developments occur. There can be no assurance that interests in any or all of these additional projects being pursued will be acquired, funded and/or commercialized.

    Financing

    The Company has arranged a $75,000 non-brokered private placement (the “Offering”) to cover additional registered office setup and related costs in Indonesia. The Company will offer up to 1,250,000 units (the “Units”) of the Company, each Unit consisting of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the Exchange has been equal or greater than $0.30 for any ten consecutive trading days after the hold period on the Common Shares has expired.

    The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Exchange. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for general corporate purposes and may be used for the acquisition of oil and gas properties. The Company expects to close the offering on or before August 15, 2014.

    The Farmin Agreement and the Offering are subject to Exchange approval.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Responds to Claim by Zein and Farran July 16, 2014

    Vancouver, B.C., July 16, 2014 – Rift Basin Resources Corp. (TSX-V: RIF.H) (the “Company” or “Rift Basin”) confirms it has become aware, through a “Street Wire” published yesterday by Canjex Publishing Ltd., of a claim (the "Claim") filed with the Supreme Court of British Columbia (the “Court”) by Mahmoud Zein and Hassan Farran (the “Claimants”), naming the Company as a defendant.

    The Claim is alleged to be for breach of contract, loss of opportunity, unjust enrichment and negligent misrepresentation. The Claimants are also seeking court costs and interest. Although the Claim was filed with the Court, Rift Basin has not been served with a Notice of Civil Claim.

    It is Management’s position that the Claim has absolutely no merit, is vexatious and continues the pattern of behaviour and self-serving efforts on the part of the Claimants which led to Rift Basin terminating the LOI in accordance with its terms.

    The Claim’s basis concerns a Letter of Intent (the “LOI”) entered into between the Company and the Claimants dated August 19, 2013. The LOI contained an automatic termination date of September 15, 2013 unless replaced by a definitive agreement, or superseded and extended in writing, neither of which was done. The Claimants were in breach of the terms of the LOI and the Company, acting in the best interests of its shareholders, terminated its relationship with the Claimants. Rift Basin followed up in due course with a formal Notice of Termination dated December 30, 2013 to avoid any misunderstandings.

    Despite the recurring efforts at circumvention and breaches of ethical protocol that lead to Rift Basin’s desire to let the LOI lapse, the Company nevertheless attempted to return the US$50,000 advance referred to in the Claim. Messrs. Zein and Farran were provided multiple opportunities to recoup their US$50,000 advance but declined to do so.

    The Company intends to vigorously defend against the claim, and reserves the right to counterclaim and to seek damages. Rift Basin will provide a further update respecting this matter once served with the Notice of Civil Claim, and additional information is known.

    Corporate Update

    As disclosed previously, Rift Basin has entered into definitive agreements through its wholly-owned subsidiary Petrodyn Holdings S.A. (“Holdco”) to acquire a direct 70% equity interest in PT Sinergi and to fund and complete workovers of PT Sinergi’s initial onshore multi-reservoir oil fields through a Participation Agreement (the “PA”) with Grosco International Sdn. Bhd. (“Grosco”). Under the terms of the PA, Grosco is required to fund secondary and enhanced oil recovery (“EOR”) methods to develop initial wells in compliance with the underlying contractual obligations with state oil company PT Pertamina EP. The objective is to maximize oil and gas production and profits which will be shared by the Company on a 50:50 pro rata basis with Grosco. Upon completion of the minimum work program Grosco shall have earned a 50% participating interest in Holdco’s 70% interest in the initial Fields.

    Rift Basin and Grosco are also engaged in several priority initiatives to acquire access, rights and interests in additional nearby and adjacent oil and gas fields, as well as progressing negotiations to acquire several advanced CBM project interests in conjunction with a significant third party funding commitment.

    A permanent representative office is being established in Jakarta. Initial workover wells have now been selected, cash flow models, budgets and work programs detailed, service providers selected, and local on-site management and operating expertise arranged.

    Well selection has been undertaken by Dr. Didit Hadianto, a former director of PT Pertamina and current professor at Institute Technical Bandung (Indonesia’s top technical university). 10 wells have been selected for development in the Dandangilo field depending on results of 3 selected pilot wells. A further 14 wells have been selected in the Ngrayong field totalling 24 wells with more available, subject to data review available from Lemigas.

    The Company will provide further updates respecting these initiatives as developments occur. There can be no assurance that interests in any or all of these additional projects being pursued will be acquired, funded and/or commercialized.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basic Announces Closing of Shares for Debt Transaction June 25, 2014

    Vancouver, B.C., June 25, 2014 – Rift Basin Resources Corp. (TSX-V: RIF.H) (the “Company” or “Rift Basin”) announces, further to its news release of May 23, 2014, that the Company has issued 1,024,995 common shares (the “Shares”) to an arm’s length creditor (the “Creditor”) to settle approximately $107,735 of debt owed to the Creditor.

    The Shares issued to the Creditor are subject to a statutory hold period in accordance with applicable securities legislation which expires on October 24, 2014.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basic Announces Shares for Debt Transaction May 23, 2014

    Vancouver, B.C., May 23, 2013 – Rift Basin Resources Corp. (TSX-V: RIF.H) (the “Company” or “Rift Basin”) announces that it has entered into a shares for debt agreement (the “Shares for Debt Agreement”) with an arm’s length creditor (the “Creditor”). Pursuant to the Shares for Debt Agreement the Company will settle approximately $107,735 of debt by issuing the Creditor 1,024,994 common shares (the “Shares”).

    The Shares will be subject to a statutory hold period of four months and a day from the date of issuance. The Shares for Debt Agreement is subject to regulatory approval.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Completes Definitive Acquisition and Funding Agreements for Indonesian Oil & Gas Fields May 20, 2014

    Vancouver, B.C., May 20, 2014 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce the signing of binding definitive agreements through its wholly-owned subsidiary Petrodyn Holdings S.A. (“Holdco”) to:

    1. acquire a direct 70% equity interest in PT Sinergi Wijaya Kusumah (“PT Sinergi”) through a Joint Venture Agreement (“the “JVA”) for total consideration of US$700,000; and

    2. fund and complete workovers of PT Sinergi’s initial onshore multi-reservoir oil fields through a Participation Agreement (the “PA”) with Grosco International Sdn. Bhd. (“Grosco”).

    PT Sinergi is the holder of a 100% interest under a Technical Service Agreement (the “TSA”) to produce oil from the onshore Dandangilo and Beji oil fields (the “Fields”) containing 110 existing oil and gas wells, located in Kedewan Subdistrict, Bojonegoro District, East Java Province, Indonesia.

    The TSA grants PT Sinergi special rights as an operator to produce oil from existing shut-in oil wells in the working area of the Fields. PT Sinergi intends to complete, in accordance with the requirements of the underlying agreements, workovers on the Fields' shut-in wells currently drilled into the Wonocolo formation, as well as complete exploration on deeper targets. Crude oil produced from the wells will be delivered to PT Pertamina EP’s crude oil storage tank in Menggung, Cepu.

    The JVA serves to govern the operations of PT Sinergi between its shareholders to efficiently carry out certain minimum rights and obligations as operator of the Fields. It has an initial term of thirty years, and is extendable upon mutual agreement between the parties. Holdco’s commitment to fund the JVA for the initial US$1 million operating capital is fully funded by Grosco in accordance with the PA’s terms and conditions.

    Under the terms of the PA, Grosco is required to advance minimum operating capital of US$1,500,000 to fund secondary and enhanced oil recovery (“EOR”) methods to develop the initial wells on the Fields in compliance with the underlying contractual obligations with state oil company PT Pertamina EP. The objective is to maximize oil and gas production and profits which will be shared by the Company on a 50:50 pro rata basis with Grosco. Upon completion of the minimum work program Grosco shall have earned a 50% participating interest in Holdco’s 70% interest in the initial Fields.

    PT Sinergi and Grosco are both arm’s length parties to Rift Basin and no finder’s fees are payable in connection with the JVA. The JVA is subject to applicable regulatory approval, including the approval of the TSX Venture Exchange (the “TSX-V”) and NEX, a separate board of the TSX-V (“NEX”, and together with the TSX-V, the “Exchange”). There can be no assurance that the transaction will be completed as proposed or at all.

    Commenting on the signing of the definitive agreements, Rift Basin CEO Wayne Koshman commented, “With our first acquisition and a committed funding partner in place, our objective to develop a project with early cash flow is sharply in focus. We look forward to working with Grosco to advance the development of our first fields, and to pursue additional opportunities in Southeast Asia.

    Grosco CEO Hesham Fathi Mohamed Khalil added, “Southeast Asia offers a business-friendly environment for entrepreneurial efforts in a resource-rich setting. With a strong local partnership in place and access to exceptional oil and gas opportunities, we are ready to apply investment capital and technology to grow shareholder value, and look forward to a long and fruitful relationship with Rift Basin.

    Stock Options

    The Company has granted incentive stock options to certain Grosco consultants to purchase up to two million common shares of the Company at a price of $0.10 per common share. The stock purchase options are exercisable on or before May 16, 2019 and vest in stages over the course of a year with 25% to vest immediately, and a further 25% of the options to vest in each three-month period thereafter. The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.

    About the Participation Agreement

    Upon commencement of commercial oil production from the Fields’ existing wells, the PA specifies that Grosco will be entitled to priority recovery of its operating working capital advanced, on a 70:30 basis of the field profit, until full recovery. Upon Grosco achieving full recovery, Rift Basin will be entitled to 70% of field profit until it has in turn recovered its operating working capital advanced, plus an additional US$1,000,000. Subsequent to the complete satisfaction of these recoupment conditions, the parties will proceed to jointly commercialize the Fields’ existing wells on a 50:50 pro rata basis.

    About Grosco

    Grosco is a Malaysian-based company with offices in Kuala Lumpur representing the interests of a group of Middle East investors seeking to acquire advanced oil and gas assets in Southeast Asia. Grosco is led by its Managing Director, Mr. Heshameldin (“Hesham”) Fathi Mohamed Khalil. Hesham has extensive Middle East and Malaysian large-project management experience, including positions as Managing Director of Algahanem Group (Tarek Algahamen-Kuwait) which had USD$4.5 billion turnover and completed inspection and surveillance on the Rawdten Field 134 platforms (2000); Managing Director of Snas Group (Sheikh Mohammed Rihan) with oversight for 14 operational companies (2005); Managing Director of Golden Group Heritage (Sheikh Saleh Al Monsor) which initiated and completed the US$1.2 billion Arab City project in Malaga Province, Malaysia; Managing Director of Arab Gulf Oilfield Equipments (AGC) which was the first UAE company to win a drilling tender in Iraq after the war. In 2009 Hesham was listed as the 11th most important influential person in Malaysia (Oxford Business Grp).

    About the Dandangilo & Beji Fields

    The Fields have historic and current oil production. PT Sinergi holds the exclusive rights to the Fields which contain 110 existing wells within an 80 km2 area, located in Kedewan Subdistrict, Bojonegoro District, East Java Province, Indonesia. The Company has received 2D seismic, well log data, past production records and geological data in support of the opportunity and will immediately commission a NI 51-101 technical report.

    Approximately 15 km to the south of the Fields, ExxonMobil has discovered very substantial oil accumulations in the Kujung Formation at its Banyu Urip Cepu block to a depth of approximately 1,700 m. Public reports suggest the block will be producing over 35,000 bpd this year (www.rigzone.com) and is expected to produce 165,000 bpd once fully developed (www.platts.com). The block is estimated to contain up to 600 million barrels (6.7% of Indonesia’s total reserves) and 1.7 Tcf of natural gas (www.geoexpro.com).

    Coordinates of the wells in the Dandangilo and Beji Fields, Bojonegoro District, East Java Province in the Working Area of PT Pertamina EP have been verified with the following results:

    1. Beji Field

    No. Well Name X Y Z (m)
    1 N 12 569,737 9,226,410 267.7
    2 N 03 A 569,719 9,226,516 249.7
    3 N 05 569,728 9,226,664 252.0
    4 N 08 569,905 9,226,520 260.8
    5 N 04 B 569,782 9,226,506 255.7
    6 N 16 569,834 9,226,496 252.4
    7 N 14 569,898 9,226,396 274.7
    8 N 06 569,949 9,226,434 269.4
    9 N 20 570,094 9,226,462 241.8
    10 N 15 570,055 9,226,405 239.1
    11 N 05 570,037 9,226,326 242.8
    12 N 24 B 570,115 9,226,384 232.9
    13 N 02 569,976 9,226,288 235.9
    14 N 17 570,162 9,226,370 247.7
    15 N 24 A 570,101 9,226,292 255.1
    16 N 26 569,808 9,226,394 260.1
    17 N 04 A 569,895 9,226,524 263.1
    18 N 03 B 569,632 9,226,578 266.4
    19 N 10 569,842 9,226,456 256.3
    20 N 09 570,026 9,226,468 247.1
    21 N 07 569,975 9,226,364 248.3
    22 N 25 570,307 9,226,394 225.4
    23 N 23 570,166 9,226,362 249.7
    24 N 13 569,515 9,226,524 338.6
    25 N 18 - - -
    26 N 19 - - -

    2. Dandangilo Field

    27 D 55 572,459 9,221,349 193.54
    28 D 56 572,467 9,221,350 194.76
    29 D 23 572,360 9,221,325 202.38
    30 D 103 572,351 9,221,335 201.46
    31 D 85 572,405 9,221,310 196.89
    32 D 34 572,246 9,221,322 207.86
    33 D 15 572,208 9,221,321 208.47
    34 D 17 572,152 9,221,365 202.68
    35 D 43 572,077 9,221,407 203.90
    36 D 26 572,130 9,221,461 201.16
    37 D 120 572,206 9,221,415 200.55
    38 D 49 572,326 9,221,271 196,59
    39 D 12 A 572,340 9,221,208 189.27
    40 D 12 B 572,340 9,221,210 189.27
    41 D 58 572,424 9,221,138 207.86
    42 D 89 572,371 9,221,108 214.87
    43 D 91 572,457 9,221,150 206.03
    44 D 63 572,435 9,221,212 197.81
    45 D 128 572,454 9,221,273 185.92
    46 D 125 572,513 9,221,215 181.04
    47 D 69 572,515 9,221,205 185.31
    48 D 70 572,547 9,221,173 188.97
    49 D 89 572,580 9,221,090 194.45
    50 D 47 572,612 9,221,002 203.90
    51 D 102 572,668 9,221,048 192.01
    52 D 121 572,643 9,221,092 194.45
    53 D 04 572,626 9,221,195 195.67
    54 D 71 572,629 9,221,199 193.84
    55 D 06 572,620 9,221,248 198.72
    56 D 72 572,588 9,221,259 202,07
    57 D 73 572,546 9,221,267 196.59
    58 D 74 572,621 9,221,294 198.72
    59 D 09 B 572,588 9,221,348 192.62
    60 D 129 572,514 9,221,320 183.48
    61 D 10 B 572,507 9,221,327 181.96
    62 D 81 572,570 9,221,401 179.52
    63 D 82 572,593 9,221,497 176.78
    64 D 75 572,641 9,221,476 176.47
    65 D 92 572,637 9,221,492 175.56
    66 D 10 A 572,505 9,221,324 190.06
    67 D 131 572,588 9,221,348 192.62
    68 D 13 572,710 9,221,458 184.40
    69 D 126 572,726 9,221,499 187.44
    70 D 01 572,781 9,221,484 195.06
    71 D 116 572,818 9,221,519 192.01
    72 D 77 572,779 9,221,530 183.18
    73 D 78 A 572,767 9,221,459 190.80
    74 D 78 B 572,781 9,221,416 193.54
    75 D 101 572,775 9,221,398 198.11
    76 D 16 572,827 9,221,350 202.99
    77 D 79 572,829 9,221,308 205.73
    78 D 18 572,874 9,221,292 203.29
    79 D 80 572,813 9,221,252 194.45
    80 D 20 572,882 9,221,218 195.37
    81 D 80 572,863 9,221,158 195.67
    82 D 99 572,795 9,221,193 190.80
    83 D 83 572,798 9,221,124 193.23
    84 D 22 572,799 9,221,116 194.15
    85 D 88 572,769 9,221,056 194.45
    86 D 88 A 572,788 9,221,016 197.20
    87 D 90 572,745 9,221,087 187.75
    88 D 98 572,740 9,221,085 192.01
    89 D 27 572,741 9,221,091 190.19
    90 D 28 572,737 9,221,091 188.97
    91 D 29 572,717 9,221,030 193.23
    92 D 44 572,696 9,220,991 193.23
    93 D 88 B 572,697 9,220,982 192.62
    94 D 90 572,692 9,220,970 192.93
    95 D 46 572,709 9,220,898 195.37
    96 D 98 572,766 9,221,162 181.96
    97 D 100 572,678 9,221,127 192,01
    98 D 101 572,674 9,221,144 192.01
    99 D 106 572,692 9,221,194 185.92
    100 D 108 572,691 9,221,245 185.00
    101 D 107 572,664 9,221,245 187.14
    102 D 109 572,675 9,221,384 172.51
    103 D 110 572,669 9,221,373 175.56
    104 D 112 572,681 9,221,382 173.12
    105 D 105 572,552 9,221,574 176.17
    106 D 127 572,612 9,221,624 182.87
    107 D 111 572,522 9,221,489 171.90
    108 D 113 572,512 9,221,485 171.90
    109 D 117 572,460 9,221,434 178.60
    110 D 132 572,454 9,221,428 178.60

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Closes Private Placement May 7, 2014

    Vancouver, B.C., May 7, 2014 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) announces, further to its news release of March 20, 2014, that it has closed the remaining 10,100,162 units (the “Units”) non-brokered private placement of Units at a price of $0.06 per Unit for gross proceeds of $606,010 (the “Private Placement”).

    Each Unit consisted of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until May 7, 2015, provided however that the Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange has been equal or greater than $0.30 for any ten consecutive trading days after September 8, 2014.

    All securities issued in connection with the Private Placement will be subject to a statutory hold period ending on September 8, 2014 in accordance with applicable securities legislation. The net proceeds from the Private Placement will be used by the Company to settle its debt, for general working capital and for the legal, data acquisition, assessment and due diligence costs associated with the Company’s proposed acquisition of a 70% interest in PT Sinergi Wijaya Kusumah.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Provides Corporate Update March 20, 2014

    Vancouver, B.C., March 20, 2014 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to provide the following update, with reference to its news releases of November 28 2013, and February 3 and 18, 2014.

    Pursuant to the terms of the memorandum of understanding announced on February 3, 2014 (the “MOU”), the Company’s Indonesian legal counsel is proceeding to finalize the definitive share purchase agreement for the Company’s proposed acquisition of a 70% interest in PT Sinergi Wijaya Kusumah (“PT Sinergi”). PT Sinergi holds the rights over petroleum production on the onshore multi-reservoir oil field known as the Dandangilo & Beji Block (the “Field”) in East Java. As part of the process, certain modifications to the underlying contract granted by state oil company PT Pertamina were requested and are expected to be completed in due course. Local legal counsel, the Company and PT Sinergi do not foresee any issues with respect to the completion of the acquisition, or the requested modifications to the underlying contract, which are considered procedural. Subject to regulatory approval and final definitive agreement completion, Rift Basin will also acquire a proportional interest in the rights to additional fields currently under negotiation or pending through PT Sinergi’s efforts.

    Pursuant to a letter of intent announced on February 3, 2014 (the “LOI”), Grosco International Sdn. Bhd. (“Grosco”) has committed to fund minimum operating capital of US$1,500,000 towards the application of enhanced oil recovery (“EOR”) techniques to develop a minimum of six wells on Rift Basin’s initial Field’s work program. Grosco is also establishing a limited liability joint venture company (the “JV”) between Grosco and Rift Basin on the basis of a 60% and 40% share of equity interests, respectively. Grosco has committed to fund the JV with US$20,000,000, to be utilized for the acquisition, preparation, exploitation and commercial production of selected oil and gas opportunities, as introduced by Rift Basin to the JV.

    On February 3, 2014, the Company announced an increase to its non-brokered private placement to raise gross proceeds of $1,185,000 through the issue of up to 21,416,666 units (the “Units”). The first tranche of 10,000,000 Units, for gross proceeds of $500,000, closed on February 18, 2014. The Company is proceeding with the private placement’s second tranche of 11,416,666 Units, for additional gross proceeds of $685,000, expected to close in early April (the “Private Placement”).

    The MOU and the LOI are not definitive agreements and do not create obligations to the parties thereto other than giving Rift Basin the opportunity to negotiate and enter into definitive agreements. There can be no assurance that any transaction in connection with the MOU and/or the LOI will be completed. Any definitive agreement will be subject to applicable regulatory approval, including the approval of the TSX Venture Exchange (the “TSX-V”) and NEX, a separate board of the TSX-V (“NEX”, and together with the TSX-V, the “Exchange”).

    Closing of the Private Placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Closes Private Placement February 18, 2014

    Vancouver, B.C., February 18, 2014 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) announces that it has closed the first 10,000,000 units (the “Units”) non-brokered private placement of Units at a price of $0.05 per Unit for gross proceeds of $500,000 (the “$0.05 Private Placement”) as previously announced in its news release of February 3, 2014.

    Each Unit consisted of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until February 18, 2015, provided however that the Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange has been equal or greater than $0.30 for any ten consecutive trading days after June 19, 2015.

    All securities issued in connection with the $0.05 Private Placement will be subject to a statutory hold period ending on June 19, 2015 in accordance with applicable securities legislation. The net proceeds from the $0.05 Private Placement will be used by the Company to settle debt with cash and for working capital.

    The Company will proceed with the private placement of the remaining 11,416,666 Units at $0.06 per Unit, for gross proceeds of up to $685,000 as previously announced in its news release of February 3, 2014.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Enters into Preliminary Funding and Joint Venture Agreements for Indonesian Oil & Gas Fields February 3, 2014

    Vancouver, B.C., February 3, 2014 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce the signing of a Letter of Intent (“LOI”) and separate Memorandum of Understanding (the “MOU”), together the “Agreements”, each dated effective January 31, 2014, with Grosco International Sdn. Bhd. (“Grosco”). Grosco is a Malaysian-based company with offices in Kuala Lumpur. Grosco represents the interests of a group of Jordanian and Saudi Arabian investors seeking to supplement their respective investment portfolios with oil and gas assets in Southeast Asia.

    The Agreements are structured to fund the application of secondary and enhanced oil recovery (“EOR”) methods to maximize oil and gas production and profits from Rift Basin’s proposed acquisition of a 70% equity interest in PT Sinergi Wijaya Kusumah (“PT Sinergi”), as first announced on June 5, 2013. The acquisition by Rift Basin of a 70% equity interest in PT Sinergi is currently proceeding through the legal and regulatory processes, and subject to regulatory approval, the Company expects to complete the transaction in Q1 2014.

    Commenting on the signing of the LOI and the MOU, Rift Basin CEO Wayne Koshman said, “Our objective is to develop a project with early cash flow and then proceed with acquiring an exceptional suite of oil and gas assets. Our proposed funding partner, Grosco, is an important element to our success in this regard and together with PT Sinergi, we look forward to working with Grosco in pursuing opportunities in Southeast Asia. Southeast Asia offers a business-friendly environment for entrepreneurial efforts in an exceptionally well-located resource-rich setting.

    The LOI

    Under the terms of the LOI, Grosco is required to advance minimum operating capital of US$1,500,000 to fund EOR as required to develop a minimum of six wells on PT Sinergi’s initial onshore multi-reservoir oil field known as the Dandangilo & Beji Block (the “Field”), in compliance with the underlying contractual obligations with state oil company PT Pertamina EP. Grosco’s funding is expected to be managed through a wholly-owned subsidiary of Rift Basin (“Rift Basin Sub-Co”) under a participation agreement between Rift Basin Sub-Co and Grosco.

    Upon commencement of commercial oil production from the Field’s existing wells, Grosco will be entitled to priority recovery of its initial operating capital advanced, on a 70:30 basis of Field profit, until full recovery. Upon achieving full recovery, Rift Basin will be entitled to 70% of Field profit until it has in turn recovered US$1,000,000 in full recognition of its deemed past costs. Subsequent to the complete satisfaction of these recoupment conditions, the parties will proceed to jointly commercialize the Field’s existing wells on a 50:50 pro rata basis.

    The MOU

    Under the terms of the MOU, a limited liability joint venture company (the “JV”) will be established by Grosco and Rift Basin on the basis of a 60% and 40% share of equity interests, respectively. Subject to regulatory approval, the Company expects that Grosco will contribute an initial US$2,000,000 by March 31, 2014 towards a total US$20,000,000 commitment for the 2014 calendar year, to fund the preparation, exploitation and commercial production of selected oil and gas opportunities introduced by Rift Basin to the JV. It is expected that each opportunity will be negotiated on a commercially competitive basis, with recognition of Rift Basin’s 40% carried interest in the JV.

    The LOI and the MOU are not definitive agreements and do not create obligations to the parties thereto other than giving Rift Basin the opportunity to negotiate and enter into definitive agreements. There can be no assurance that any transaction in connection with the LOI and/or the MOU will be completed. Any definitive agreement will be subject to applicable regulatory approval, including the approval of the TSX Venture Exchange (the “TSX-V”) and NEX, a separate board of the TSX-V (“NEX”, and together with the TSX-V, the “Exchange”).

    Private Placement

    Rift Basin is increasing the amount of the non-brokered private placement of units previously announced in its news release of November 29, 2013, to up to 21,416,666 units (the “Units”) at a minimum price of $0.05 per Unit for the first 10,000,000 Units and $0.06 per Unit for the remaining 11,416,666 Units, for total gross proceeds of up to $1,185,000 (the “Offering”). The Company expects to use the net proceeds from the Offering to settle debt with cash and leave the Company with up to $500,000 in working capital.

    Rift Basin is fully subscribed for the first 10,000,000 Units (the “$0.05 Private Placement”) and is proceeding to promptly close the $0.05 Private Placement for gross proceeds of $500,000. Rift Basin is then seeking to close up to an additional 11,416,666 Units for gross proceeds of up to an additional $685,000.

    Each Unit consists of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering. The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the Exchange has been equal to or greater than $0.30 for 10 consecutive trading days after the hold period on the Common Shares has expired.

    The working capital from the Offering will be used by the Company for general corporate purposes and may be used in connection with acquisition and due diligence costs. The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Exchange. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

    Letter of Intent with Lebanese Financing Group Terminated

    Rift Basin announces the letter of intent with the Lebanese financing group as announced September 17, 2013, has been terminated in accordance with the terms of such agreement.

    About PT Sinergi

    PT Sinergi’s Dandangilo & Beji Block has historic and current oil production. PT Sinergi currently holds the exclusive rights to the Field which contains 110 existing wells within an 80 km2 area, located in Bojonegoro, East Java, Indonesia. The Company has received 2D seismic, well log data, past production records and geological data in support of the opportunity. Subject to the entering into of a definitive agreement, Rift Basin also has the right to earn-in on additional fields currently under negotiation by PT Sinergi.

    Approximately 15 km to the south of the Field, ExxonMobil has discovered very substantial oil accumulations in the Kujung formation at its Banyu Urip Cepu block at a depth of approximately 1,700 m. Public reports suggest the block is currently producing approximately 35,000 bpd and is expected to produce 165,000 bpd by late 2014. The block is estimated to contain up to 600 million barrels (6.7% of Indonesia’s total reserves) and 1.7 Tcf of natural gas.

    About Grosco

    Grosco International Sdn. Bhd. is a Malaysian-based company with offices in Kuala Lumpur. Grosco represents the interests of a group of Jordanian and Saudi Arabian investors seeking to supplement their respective investment portfolios with oil and gas assets in Southeast Asia.

    Grosco is led by its Managing Director, Mr. Heshameldin (“Hesham”) Fathi Mohamed Khalil. Hesham has extensive Middle East and Malaysian large-project management experience, including positions as Managing Director of Algahanem Group (Tarek Algahamen-Kuwait) which had USD$4.5 billion turnover and completed inspection and surveillance on the Rawdten Field 134 platforms (2000); Managing Director of Snas Group (Sheikh Mohammed Rihan) with oversight for 14 operational companies (2005); Managing Director of Golden Group Heritage (Sheikh Saleh Al Monsor) which initiated and completed the US$1.2 billion Arab City project in Malaga Province, Malaysia; Managing Director of Arab Gulf Oilfield Equipments (AGC) which was the first UAE company to win a drilling tender in Iraq after the war. In 2009 Hesham was listed as the 11th most important influential person in Malaysia (Oxford Business Grp).

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    CA, CPA, CMT
    Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Private Placement November 29, 2013

    Vancouver, B.C., November 29, 2013 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce a non-brokered private placement of up to 10,000,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of up to $500,000 (the “Offering”). The net proceeds from the Offering will be used by the Company for the legal, data acquisition, assessment and due diligence costs associated with the Company’s proposed acquisition of a 70% interest in PT Sinergi Wijaya Kusumah and general corporate purposes.

    Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange (the “Exchange”)has been equal to or greater than $0.30 for ten consecutive trading days after the hold period on the Common Shares has expired.

    The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Exchange. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

    Stock Options

    The Company has granted incentive stock options to certain directors, officers and consultants of the Company to purchase up to 1.2 million common shares of the Company at a price of $0.10 per common share. The stock purchase options are exercisable on or before November 29, 2018 and vest in stages over the course of a year with 25% to vest immediately, and a further 25% of the options to vest in each three-month period thereafter.

    The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    Rob van Santen, CA, CMT, Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Completes Legal Due Diligence of East Java Basin Oil Field November 28, 2013

    Vancouver, B.C., November 28, 2013 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce that the parties are proceeding with Rift Basin’s proposed acquisition of a 70% interest in PT Sinergi Wijaya Kusumah (“PT Sinergi”) as contemplated in the Memorandum of Understanding (the “MOU”) announced June 5, 2013.

    Rift Basin has received a legal opinion from Indonesian counsel (the “legal opinion”) supporting the validity and enforceability of the underlying contracts, the related rights over petroleum production, and the proposed ownership structure between the parties. In addition, 2D seismic, well log data, past production records and geological data have been obtained on PT Sinergi’s onshore multi-reservoir oil field known as the Dandangilo & Beji Block (the “Field”).

    The Field is the first of several anticipated acquisitions by PT Sinergi to exploit for oil and gas. The Field contains 110 existing shut-in oil wells within an 80 sq km area located in the Bojonegoro District, East Java, Indonesia. According to historical data the Field had OOIP (original oil in place) of 112 million stock tank barrels (“MMSTB”). Pertamina, the state-owned oil company, recorded production of approximately 20 MMSTB during the period 1963-1980, after which the field was shut in.

    The Company is now well-positioned to complete a geological report for the Field in anticipation of the initial work program for secondary and tertiary oil recovery from the producing Ngrayong sandstone formation, at a shallow depth of 150 m to 500 m. In addition, with the technical assistance of an established intermediate oil and gas production company, Rift Basin expects to reprocess existing 2D data to evaluate the hydrocarbon potential of the deeper Middle Miocene carbonate Kujung formation within the Field.

    Subject to the entering into of a definitive agreement, and as confirmed in the legal opinion, Rift Basin also has the right to earn-in to additional fields currently under negotiation by PT Sinergi. These additional fields are also located in the Cepu block area / East Java Basin, and include a decommissioned 40-well block which historically produced at its peak 4,000 bpd, a highly-prospective block with six existing shut-in wells drilled to a depth of 1,200 m in 1989, and the recent discovery of a lost and abandoned oil field that was blown up and buried by the Dutch immediately prior to the Japanese invasion during WWII.

    The existing MOU is not a definitive agreement and does not create obligations to the parties thereto other than giving Rift Basin the opportunity to negotiate and enter into a definitive agreement to establish oil and gas production for the Field. There can be no assurance that any transaction in connection with the MOU will be completed. Any definitive agreement will be subject to applicable regulatory approval.

    The East Java Basin Opportunity

    PT Sinergi’s Dandangilo & Beji Block has historic and current oil production. Approximately 15 km to the south of the Field, ExxonMobil has discovered very substantial oil accumulations in the Kujung formation at its Banyu Urip Cepu block at a depth of approximately 1,700 m. Public reports suggest the block is currently producing approximately 33,000 bpd and is expected to produce 165,000 bpd by end of Q3 2014. The block is estimated to contain up to 600 million barrels (6.7% of Indonesia’s total reserves) and 1.7 Tcf of natural gas.

    Stock Options

    The Company has granted incentive stock options to certain directors, officers and consultants of the Company to purchase up to 2.8 million common shares of the Company at a price of $0.10 per common share. The stock purchase options are exercisable on or before November 28, 2018 and vest in stages over the course of a year with 25% to vest immediately, and a further 25% of the options to vest in each three-month period thereafter.

    The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    Rob van Santen, CA, CMT, Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Closes Private Placement October 18, 2013

    Vancouver, B.C., October 18, 2013 – Rift Basin Resources Corp. (TSX-V: RIF.H) (the “Company” or “Rift Basin”) announces that it has closed the non-brokered private placement of units (the “Private Placement”) previously announced in its news release of August 13, 2013.

    The closing consisted of 6,300,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $315,000. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until October 18, 2014, provided however that the Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange has been equal or greater than $0.30 for any ten consecutive trading days after February 19, 2014.

    All securities issued in connection with the Offering will be subject to a statutory hold period ending on February 19, 2014 in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for data acquisition, assessment and due diligence costs associated with the memorandum of understanding referred to in the company's announcement of June 5, 2013 and general corporate purposes.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen
    Rob van Santen, CA, CMT, Chief Financial Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Resignation of A Director October 1, 2013

    Vancouver, B.C., October 1, 2013 – Rift Basin Resources Corp. (TSX-V NEX: RIF.H) (the “Company” or “Rift Basin”) announces that Paul Lathigee has resigned as a director of the Company to pursue other opportunities. The Company would like to thank Mr. Lathigee for his contributions to the Company.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Robert van Santen, Chief Financial Officer & Corporate Secretary

    For further information, please contact:

    Rift Basin Resources Corp.
    Robert van Santen, Chief Financial Officer & Corporate Secretary
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Arranges Joint Development of East Java Oil Field September 17, 2013

    Vancouver, B.C., September 17, 2013 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce it has entered into a letter of intent (the “LOI”) with a Lebanese financing group (the “Funder”) to share the economic obligations and benefits of its pending interest in the Indonesian onshore multi-reservoir oil field known as the Dandangilo & Beji Block (“the “Field”), the initial project under the Memorandum of Understanding announced on June 5, 2013 (the “MOU”).

    Under the terms of the LOI, the Funder will advance initial operating capital of up to US$700,000 to fully fund technical assessment, equipment acquisition, mobilization, service and enhancement work and administrative support as required for the first five wells on the Field, in compliance with the Company’s obligations under the MOU. Operations will be conducted through a jointly-owned (50:50) operating company (“PT Rift”). The Funder has advanced US$50,000 to the Company as evidence of its good faith and intentions pending completion of definitive agreements and customary closing conditions, including due diligence and TSX Venture Exchange approval.

    Upon commencement of commercial oil production, the Funder will be entitled to priority recovery of its initial operating capital advanced, on a 70:30 basis of PT Rift company profit, until full recovery. Upon achieving full recovery, Rift Basin will be entitled to 70% of PT Rift company profit until it has in turn recovered US$700,000 in full recognition of its own past costs and the introduction of the opportunity to the Funder. Subsequent to the complete satisfaction of these recoupment conditions, the parties will proceed to jointly commercialize the Field on a 50:50 basis.

    Concurrent with the Company’s efforts to economically commercialize the Field’s existing wells, a technical team is evaluating the deeper target potential in the basin, with technical and resource assistance provided by an arms-length intermediate oil and gas production company that is also participating in the Company’s announced private placement for up to $200,000.

    The Indonesian Opportunity

    The Dandangilo & Beji Block has historic and current oil production. It is located in Bojonegoro, East Java, Indonesia, and contains 110 existing shallow wells within an 80 sq.km. area. According to data on file at the University of Pembangunan Nasional Veteran, Jakarta, original oil in place in the Field reservoir was 112 million stock tank barrels (“MMSTB”). Pertamina recorded production of approximately 20 MMSTB during the period 1963-1980 after which no commercial operations were undertaken.

    ExxonMobil is reported to have discovered a very substantial oil accumulation at the deeper Kujung horizon in its Cepu Block, approximately 15km to the south of the Field. Public reports suggest the Cepu field is expected to produce 165,000 barrels of oil per day when fully developed.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Rob van Santen, CA, CMT, Chief Financial Officer
    Telephone: (604) 649-1709
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Plans for Evaluation of East Java Oil Field, Private Placement, Chorbane Update and Transfer to NEX Board August 13, 2013

    Vancouver, B.C., August 13, 2013 – Rift Basin Resources Corp. (NEX: RIF.H) (the “Company” or “Rift Basin”) is pleased to announce it is proceeding to acquire and evaluate a substantial volume of legacy seismic, technical and geological data with respect to the Indonesian onshore multi-reservoir oil field known as the Dandangilo & Beji Block (“the “Field”), being the initial project and subject of the Memorandum of Understanding referred to in the Company's announcement of June 5, 2013 (the “MOU”).

    This appraisal process will have the technical support of a technical team provided by an established intermediate oil and gas production company which will assist the Company to evaluate the economic potential for secondary shallow-oil recovery, as well as the deeper target potential in the basin (the “Technical Support Agreement”).

    The Indonesian Opportunity

    The Field has historic and current oil production. It is located in Bojonegoro, East Java, Indonesia, and contains 110 existing wells within an 80 sq.km. area. According to data on file at the University of Pembangunan Nasional Veteran, Jakarta, original oil in place in the Field reservoir was 112 million stock tank barrels (“MMSTB”). Pertamina recorded production of approximately 20 MMSTB during the period 1963-1980 after which no commercial operations were undertaken.

    The Company is seeking to confirm the Field's secondary recovery potential from more than 86 shallow wells after the application of relatively low cost well work-over techniques. In addition to the secondary recovery opportunity, the Company will be seeking to determine the deeper target potential below the Field's originally produced reservoirs.

    Elsewhere in the same geologic basin, ExxonMobil is reported to have discovered a very substantial oil accumulation at the deeper Kujung horizon in its Cepu Block, approximately 15km to the south of the Field and initial reports suggest the Cepu field is expected to produce 165,000 barrels of oil per day when fully developed.

    Also, PT Petrochina Indonesia is mobilizing approximately 15km to the northeast of the Field to drill a deep well in an attempt to penetrate the same Kujung formation as ExxonMobil penetrated.

    The MOU is not a definitive agreement and does not create obligations to the parties thereto other than giving Rift Basin the opportunity to negotiate and enter into a definitive agreement to establish oil and gas production for the Field. There can be no assurance that any transaction in connection with the MOU will be completed. Any definitive agreement will be subject to applicable regulatory approval.

    Private Placement

    As part of the Technical Support Agreement, a minimum of $100,000 will be advanced to the Company by way of a non-brokered private placement to cover certain data access and due diligence efforts. Accordingly, the Company announces a non-brokered private placement of up to 7,000,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of up to $350,000 (the “Offering”). The net proceeds from the Offering will be used by the Company for data acquisition, assessment and due diligence costs associated with the MOU, and general corporate purposes.

    Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the Exchange has been equal or greater than $0.30 for any ten consecutive trading days after the hold period on the Common Shares has expired.

    The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Exchange. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

    Chorbane Farmin Update

    Rift Basin wishes to provide an update on the farmin agreement (the “Farmin Agreement”) between the Company’s wholly-owned subsidiary, Rift Basin International Corp. and Alpine Oil & Gas Pty Ltd., a wholly-owned subsidiary of Australian-based ADX Energy Ltd. (ASX: ADX). Further to its news release of May 3, 2013, the Company has requested the return of its refundable US$100,000 and termination of the Farmin Agreement with effect July 31, 2013. Due to the state of the capital markets, the continued instability within the MENA region, and lack of receptivity towards exploration opportunities, the Company was not able to complete the requirements necessary to close the Chorbane Transaction. The Company has determined that opportunities in East Asia and Indonesia in particular offer better alternatives on which to focus limited resources.

    NEX Board

    The common shares of the Company will be delisted from the TSX Venture Exchange (the “TSX-V”) and will resume trading on the NEX effective on August 12, 2013. The trading symbol for the Company will change from RIF to RIF.H. There is no change in the Company’s name, no change to the Company’s CUSIP number and no consolidation of capital.

    NEX is a separate board of the TSX Venture Exchange for Companies previously listed on the TSX Venture Exchange or Toronto Stock Exchange, designed to provide a forum for the trading of publicly listed shell Companies not carrying on an active business. The Company continues to seek and undertake a definitive transaction through which to become an oil and gas issuer.

    About Rift Basin

    The Company is listed on the NEX, a separate board of the TSX Venture Exchange, under the symbol “RIF.H”. The Company is seeking to graduate to Tier 2 of the TSX Venture Exchange and become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Rob van Santen, CA, CMT, Chief Financial Officer
    Telephone: 604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Closes Private Placement July 8, 2013

    Vancouver, B.C., July 8, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that it has closed the non-brokered private placement of units (the “Private Placement”) previously announced in its news release of May 14, 2013.

    The closing consisted of 1,850,000 units (the “Units”) at a price of $0.08 per Unit for gross proceeds of $150,000. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until July 7, 2014, provided however that the Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange has been equal or greater than $0.30 for any ten consecutive trading days after November 9, 2013.

    All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for general corporate purposes and may be used in connection with acquisition due diligence costs.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Completes Initial Assessment, Increases Participation June 5, 2013

    Vancouver, B.C., May 14, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) is pleased to announce the execution of a Memorandum of Understanding (“MOU”) with PT Sinergi Wijaya Kusumah (“PT Sinergi”) which supersedes the trilateral arrangements previously announced in its news release of May 3, 2013.

    PT Sinergy holds the exclusive rights to exploit an onshore multi-reservoir oil field known as the Dandangilo & Beji Block, containing 110 existing wells within an 80 sq.km. area (the “Field”), located in Bojonegoro, East Java, Indonesia. PT Sinergi has the rights under a renewable Cooperation Agreement (the “Agreement”) to produce oil from existing shut-in oil wells in the working area.

    Following the recent site reconnaissance visit by Rift Basin’s technical team, and assessment of the technical, economic, legal and regulatory requirements associated with the exploitation of the Field, the new MOU seeks to formalize the renegotiated agreement whereby Rift Basin can now earn up to 70% interest in PT Sinergy by funding initial service and enhancement work. The renewal period underlying the Agreement will change to a specific term of 5 years for each period, for a total of 20 years, and provision is being made to segregate the obligations such that the Company is shielded from any direct or indirect environmental or human related liabilities associated the district-level cooperative’s exploitation activities. In addition, the work commitment schedule will be modified in accordance with an independent third-party technical assessment and resulting recommendations, to be reviewed and mutually agreed upon between the Company and PT Sinergy.

    Commenting on the signing of the MOU, Rift Basin CFO Rob van Santen said, “By increasing our potential interest to 70% and tightening up the terms of reference, shareholders are being positioned to benefit from the successful application of modern enhanced recovery techniques to an historically well-documented but neglected resource. Given the current risk-off environment, securing a relatively low-cost low-risk path to early cash flow that bypasses the usual exploration risk is a strategic coup with significant operational leverage. With shareholder support we should be able to progress quickly to realize on the potential.

    An MOU is not a definitive agreement and does not create obligations to the parties thereto other than giving Rift Basin the opportunity to negotiate and enter into a definitive agreement to establish oil and gas production for the Field awarded to PT Sinergy. There can be no assurance that any transaction in connection with this MOU will be completed. Any definitive agreement will be subject to the approval of the TSX Venture Exchange.

    About PT Sinergy

    PT Sinergy is owned by Mr. Suryana Wijaya Kusumah, an Indonesian national with extensive interests in coal mining, iron ore mining, oil and gas concessions, forestry and timber operations and power generation. As co-founder and a shareholder of Para Group, one of Indonesia’s emerging conglomerates, Mr. Kusumah’s interests include banking, media, hotel, entertainment and lifestyle as well as several well-known franchise operations.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Repricing of Private Placement May 14, 2013

    Vancouver, B.C., May 14, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that, at the request of existing arm’s-length shareholders of the Company wishing to participate in funding the Company’s Indonesian initiatives, it has agreed to reprice its private placement (the “Offering”) announced in its news release on May 3, 2013 from $0.10 to $0.08 per unit (each, a “Unit”), subject to the approval of the TSX Venture Exchange (the “Exchange”).

    The Offering is therefore for up to 6,250,000 units to raise up to $500,000. Each Unit will continue to consist of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration on the terms described in the Company’s news release of May 3, 2013.

    The net proceeds from the Offering will be used by the Company for general corporate purposes and may be used in connection with acquisition due diligence costs. The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

    About Rift Basin

    The Company is listed on the Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Two Indonesian MOUs, $500,000 Private Placement, and Provides an Update on the Chorbane Farmin Agreement May 3, 2013

    Vancouver, B.C., May 3, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) is pleased to announce it has entered into a Memorandum of Understanding (the “PT Sinergi MOU”) with PT Sinergi Wijaya Kusumah (“PT Sinergi”) to evaluate and redevelop an onshore multireservoir oil field, known as the Dandangilo & Beji Block, containing 110 existing wells within an 80 sq.km. area (the “Field”), located in Bojonegoro, East Java, Indonesia. PT Sinergi has the rights under a renewable 5-year Cooperation Agreement with KUD Sumber Pangan (“KUD”) to produce oil from existing shut-in oil wells in the working area. Rift will apply Enhanced Oil Recovery (“EOR”) techniques to the existing wells in order to bring them back into production. KUD is a district-level cooperative with the rights, under a petroleum production contract with Indonesian state oil company PT Pertamina, to lift and raise oil from relinquished and mature fields and deliver to a point agreed to between the parties, as approved by the Ministry of Natural Resources. The Field is currently producing approximately 1,500 barrels per day (bpd) from 6 wells through KUD without the benefit of modern EOR technology.

    According to data on file at the University of Pembangunan Nasional Veteran, Jakarta, original oil in place (OOIP) in the Field reservoir was 112 million stock tank barrels (MMSTB). Pertamina recorded production of approximately 20 MMSTB during the period 1963-1980 after which no commercial operations were undertaken.

    Rift Basin has also entered into a Memorandum of Understanding (the “Portvest MOU”, and together with the PT Sinergi MOU, the “MOUs”) with Portvest International SDN BHD (“Portvest”) whereby Rift Basin and Portvest will jointly, through a newly established Indonesian Foreign Investment Company, hold 70% of PT Sinergi, which in turn holds the rights to exploit the Field. Portvest will be the operator and responsible for funding initial service and enhancement work required to establish initial production cash flow and to attract a project lending facility.

    Wayne Koshman, Rift Basin’s CEO commented, “This is an enormous opportunity for Rift Basin and our shareholders. Relinquished, marginal and mature fields in Indonesia are an established resource that provides a low-cost low-risk opportunity to achieve early cash flow through the application of EOR techniques. Rift Basin will benefit by being an early participant in the Indonesian government’s push to attract foreign investors and boost domestic production.

    The MOUs do not create obligations to the parties thereto other than giving Rift Basin the opportunity to negotiate and enter into definitive agreements and in the case of the PT Sinergi MOU, to establish EOR and production for the Field awarded to PT Sinergy. The Company expects that PT Sinergy, Portvest and related parties may introduce additional fields to Rift Basin for joint development and benefit in due course.

    The MOUs are not definitive agreements and there can be no assurance that any transaction in connection with the MOUs will be completed. Any definitive agreement will be subject to the approval of the TSX Venture Exchange (the “Exchange”).

    Chorbane Farmin Update

    Rift Basin wishes to provide an update on the farmin agreement (the “Farmin Agreement”) between the Company’s wholly-owned subsidiary, Rift Basin International Corp. and Alpine Oil & Gas Pty Ltd., a wholly-owned subsidiary of Australian-based ADX Energy Ltd. (ASX: ADX). Further to its news releases of December 21, 2012, January 2, 2013 and January 9, 2013, the Company reports that it received conditional approval from the Exchange in February 2013 for the acquisition of an undivided 15% working interest in the Chorbane exploration permit pursuant to the Farmin Agreement (the “Chorbane Transaction”). Due to the state of the capital markets and receptivity towards exploration opportunities, the Company has not been able to complete the requirements necessary to close the Chorbane Transaction. To date, the parties to the Farmin Agreement have not terminated the agreement and the Company will update its shareholders by subsequent news release as developments occur.

    Closing of the Chorbane Transaction is subject to a number of conditions, including but not limited to, funding requirements and Exchange approval. There can be no assurance that the Chorbane Transaction will be completed.

    Private Placement

    The Company is seeking to transition to an oil and gas issuer on the Exchange. Accordingly, it has been seeking a suitable transaction to progress as a priority to the Chorbane Transaction. The Company has therefore entered into the MOUs as detailed above, and is seeking to close a non-brokered private placement of up to 5,000,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of up to $500,000 (the “Offering”). The net proceeds from the Offering will be used by the Company for general corporate purposes and may be used in connection with due diligence costs associated with the MOUs.

    Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the Exchange has been equal or greater than $0.30 for any ten consecutive trading days after the hold period on the Common Shares has expired.

    The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Exchange. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

    About Indonesian Oil and Gas Opportunities

    Indonesia's discovery of vast commercial quantities of crude oil in Sumatra just over 100 years ago led directly to the formation of Royal Dutch Petroleum, now Royal Dutch Shell. Indonesia was the pioneer of the production sharing contract (PSC) model in the late 1960s which made the country an important contact with the international supermajors. Indonesia became an oil rich power and key member of OPEC, providing its longest serving secretary general (1988-1994).

    In 2012 Indonesia's oil reserves fell faster than in any other Asian country, dropping 1.9 billion barrels since 1991 to just 3.89 billion barrels. Oil production is straining to reach a 900,000 bpd threshold, down from 1.7 million bpd back in 1980. Indonesia's declining oil reserves now place the country 28th in the world. Last year Indonesia faced a domestic supply deficit of 78 million barrels which deepened the country's reliance on oil imports. Indonesia’s domestic consumption increased by 11 percent in 2011 alone, and is projected to triple in size by 2030. With approximately 60 percent of Indonesia's energy government-subsidized and a global Brent price consistently over USD 100 per barrel, the short-term energy issue has become the center of public attention and is a key driver to attract capital and technology to the sector. There are over 155 producing fields hosting in excess of 5,000 wells in Indonesia, mostly with only shallow drilling history using 1970’s era technology. Many wells were still in production when shut in during the good times, and virtually forgotten.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Closes Final Tranche of A Private Placement for Additional Gross Proceeds of $380,000 March 12, 2013

    Vancouver, B.C., March 12, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) ”) announces that it has closed the second and final tranche of the non-brokered private placement of units (the “Private Placement”) previously announced in its news release of December 21, 2012.

    The final tranche closing consisted of 3,800,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of $380,000. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until March 12, 2014, provided however that the Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange has been equal or greater than $0.30 for any ten consecutive trading days after July 13, 2013.

    In connection with the closing, the Company paid $8,000 cash commission to an arm’s length finder, representing 8% of the gross proceeds raised on the sale of the Units placed by such finder.

    All securities issued under the final tranche of the Private Placement are subject to a statutory hold period expiring on July 13, 2013 in accordance with applicable Canadian securities laws. The net proceeds of the final tranche of the Private Placement will be used for general working capital.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Closes First Tranche of A Private Placement for Gross Proceeds of $385,000 January 31, 2013

    Vancouver, B.C., January 31, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that it has closed the first tranche of the non-brokered private placement of units (the “Private Placement”) previously announced in its news releases of November 2 and December 21, 2012.

    The first tranche closing consisted of 3,850,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of $385,000. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Share at a price of $0.20 until January 30, 2014, provided however, that the Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange (the “Exchange”) has been equal or greater than $0.30 for any ten consecutive trading days after May 31, 2013.

    All securities issued under the first tranche of the Private Placement are subject to a statutory hold period expiring on ending May 31, 2013 in accordance with applicable Canadian securities laws. The net proceeds of the first tranche of the Private Placement will be used for general working capital.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF” . The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin to Resume Trading January 9, 2013

    VANCOUVER, BRITISH COLUMBIA - January 9, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) is pleased to announce, further to its news release of January 2, 2013 (the “January News Release”), that the Company has cleared the required preliminary documents with the TSX Venture Exchange (the “TSX-V”) in connection with the definitive farmin agreement for the Chorbane exploration permit (the “Acquisition”); accordingly, the TSX-V has confirmed that the Company’s stock halt will be lifted. The Company expects trading to resume at market open on Thursday (January 10, 2013).

    The Acquisition is the Company’s first acquisition of an oil and gas asset. The transaction is defined as a “Fundamental Acquisition” (TSX-V Policy 5.3) and remains subject to a number of conditions, including but not limited to final TSX-V approval.

    ETAP, the Tunisian state-owned entity responsible for the petroleum sector and the state’s partnerships with foreign exploration and production operators, has approved the Acquisition as detailed in our January News Release.

    The Chorbane exploration permit is located onshore central Tunisia near the port city of Sfax, and is surrounded by several producing oil and gas fields and extensive infrastructure. London-based Gulfsands Petroleum plc (AIM:GPX) (“Gulfsands”), the Company’s strategic partner (as announced in the Company’s news release of November 16, 2012), is increasing its own participating interest in the permit, subject to various regulatory approvals, to ultimately hold a 70% participating interest and be the Operator.

    Commenting on this announcement, Wayne Koshman, Rift Basin’s CEO, said "We are pleased to be acquiring an interest in this Tunisian permit with our strategic partner as the proposed operator. Our alliance with Gulfsands will facilitate the pursuit and acquisition of additional oil and gas projects in Tunisia and elsewhere in the Middle East and North Africa. We are planning for a significant increase in corporate activity during 2013."

    For further details on the Acquisition please see the Company’s news release dated December 21, 2012 (the “December News Release”, a copy of which is available, along with the Resource Report on the Acquisition, under the Company’s SEDAR profile at www.sedar.com). There can be no assurance that the Acquisition will be completed as proposed or at all.

    In the December News Release the Company also announced a private placement (the “Offering”) for gross proceeds of up to $1,100,000. The Company is proceeding with the Offering and expects to close the same following resumption of trading and receipt of final documentation.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Provides Update on the Acquisition and Trading HaltJanuary 2, 2013

    VANCOUVER, BRITISH COLUMBIA - January 2, 2013 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) further to its news release of December 21, 2012 (the “December News Release”) announcing a definitive farmin agreement for the Chorbane exploration permit (the “Acquisition”), the Company is pleased to announce receipt of approval from ETAP for the Acquisition. ETAP is the Tunisian state-owned entity responsible for the petroleum sector as well as the state’s partnerships with foreign exploration and production operators.

    The TSX Venture Exchange (the “TSX-V”) halted the Company’s common shares prior to the dissemination of the December News Release in accordance with TSX-V policy. The Company wishes to provide market participants with details of the TSX-V policy and trading halt which are summarized below.

    Trading Halt

    The Acquisition is the Company’s first acquisition of an oil and gas asset and for that reason the transaction is subject to a heightened level of regulatory approval. Specifically, under TSX-V Policy 5.3 the transaction is defined as a “Fundamental Acquisition” and under such a transaction a trading halt is triggered concurrent with the dissemination of a comprehensive news release disclosing such transaction. In summary, the trading halt was normal course for a transaction of this type and was triggered when the Company disseminated the December News Release.

    Under TSX-V Policy 5.3 the Company’s common shares will remain halted pending TSX-V review of the following:
    (a) the definitive farmin agreement for the Acquisition;
    (b) personal information forms or if applicable declarations for any new proposed insiders; and
    (c) the geological report for the transaction.

    The Company does not expect to create any new insiders in connection with the Acquisition and accordingly the Company does not expect to trigger TSX-V review of item (b) above. Similarly, the Company pre-cleared the geological report for the Acquisition with the TSX-V and the Company does not expect to trigger a further review of item (c) above. The only item left for the TSX-V to review prior to lifting the trading halt is the definitive farmin agreement (item (a) above). Due to delays associated with the holidays the Company expects that TSX-V’s review of the definitive farmin agreement will be completed and that the stock halt will be lifted in the week of January 7, 2013.

    For details on the Acquisition please see the December News Release (a copy of which is available under the Company’s SEDAR profile at www.sedar.com). The Acquisition is subject to a number of conditions, including but not limited to, applicable regulatory approval (including approval of the TSX-V). There can be no assurance that the Acquisition will be completed as proposed or at all.

    In the December News Release the Company also announced a private placement (the “Offering”) for gross proceeds of up to $1,100,000. The Company is proceeding with the Offering and expects to close the same in early January.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Farmin AgreementDecember 21, 2012

    VANCOUVER, BRITISH COLUMBIA - December 21, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) is pleased to announce that its wholly-owned subsidiary, Rift Basin International Corp. (“Rift Basin International”), has entered into a definitive farmin agreement (the “Farmin Agreement”) with Alpine Oil & Gas Pty Ltd. (“Alpine”), a wholly-owned subsidiary of Australian-based ADX Energy Ltd. (ASX: ADX), which replaces the letter of intent announced on November 23, 2012. Alpine is an arm’s length party to the Company.

    Pursuant to the terms of the Farmin Agreement the Company, through Rift Basin International, can earn an undivided 15% working interest in the Chorbane exploration permit (the “Permit”). The Permit is located onshore Tunisia in the Pelagian Shelf (Sahel Plains) of the Pelagian Basin near the port city of Sfax. The Permit occupies an area of 1,940 km2 and is governed by a production sharing contract (“PSC”) with L’Entreprise Tunisienne d’Activités Pétrolières (“ETAP”). ETAP is a Tunisian state-owned entity responsible for the petroleum sector as well as the state’s partnerships with foreign exploration and production operators.

    In accordance with the terms of the Farmin Agreement the Company, through Rift Basin International, will earn an undivided 15% working interest in the Permit (the “Acquisition”) upon paying to Alpine the following:
    (a) US$200,000 on or within 10 days after the receipt by Alpine of approval from ETAP for the Acquisition;
    (b) a further US$700,000 upon the earlier of January 31, 2013 and applicable government approval for the Acquisition; and
    (c) a further US$300,000 within 10 days of a request by Alpine to Rift Basin International in accordance with the work program and budget issued under the joint operating agreement for the Permit that relates to such seismic acquisition.

    London-based Gulfsands Petroleum plc (AIM:GPX) (“Gulfsands”), the Company’s strategic partner (as announced in the Company’s news release of November 16, 2012), is currently acquiring an additional 30% participating interest in the Permit, subject to various regulatory approvals, to ultimately hold a 70% participating interest and be the Operator for the Permit.

    As noted above, the Permit is under a PSC and the PSC requires a minimum work program comprised of drilling one well to 2,500 meters total depth during the first renewable period July 13, 2012 to July 12, 2015. Estimated costs to drill and test one well are CDN$7,000,000 (or approximately $1,050,000 net to Rift Basin Internationals’ 15% working interest).

    The Acquisition is subject to a number of conditions, including but not limited to, applicable regulatory approval (including approval of the TSX Venture Exchange (“TSX-V”) and ETAP). There can be no assurance that the Acquisition will be completed as proposed or at all.

    Resource Report and Independent Qualified Reserves Evaluator

    As noted in the Company’s news release of December 7, 2012, the Company retained Petrotech Engineering Ltd. (“Petrotech”) of Burnaby, British Columbia to prepare, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”), a resource report (the “Resource Report”) for the Permit. The Resource Report was authored by John Yu, P. Eng (of Petrotech) and a summary of the report is set forth below.

    The Resource Report is named “Evaluation of the Interests of Rift Basin Resources Corp. in Three Prospects in the Chorbane Exploration Permit, Tunisia.” A summary of Rift Basin International’s gross and net share of the prospective resources (prospects) and net share of the future present worth net present values before income tax, discounted at 0%, 5%, 10%, 15% and 20% is presented as follows:

    L&M Oil Resources Before Tax NPV @
    Estimate 100% Mbbl Co.'s Share of Cost & Profit Oil Mbbl 0% M$ 5% M$ 10% M$ 15% M$ 20% M$
    Low 3,101 175.3 17,181 14,422 12,301 10,635 9,301
    Best 50,072 1,536.4 149,602 111,992 86,896 69,415 56,773
    High 289,767 8,009.4 809,948 535,832 380,731 285,829 223,728

    Under the Canadian Oil and Gas Evaluation (COGE) Handbook guidelines for production sharing contracts, Company Gross reserves are the participation interest share of production and Company Net reserves are generally the company’s participation interest through production to cost recovery plus the company profit interest share of production minus all applicable payments to others. There is no royalty payment in this production sharing contract. The chance of discovery and the chance of development together with the after tax net present values along with the information relating to section 5.9 of NI 51-101 and section 10.3 of the COGE Handbook are disclosed in Appendix B of the Resource Report which will be filed under the Company’s SEDAR profile (www.sedar.com). The resources summarized above are prospective in nature and the estimated values disclosed do not represent fair market value. Prospective resources are those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. There is no certainty that the prospective resources will be discovered. If the prospective resources are discovered there is no certainty that any discovery will be technically or economically viable to produce.

    Mr. Yu is a registered Professional Engineer in the Province of British Columbia, having more than 38 years of experience in engineering studies, evaluation of oil and gas properties, drilling, completion, production and process engineering of oil and gas operations. Petrotech is the Company’s independent qualified reserve evaluator for periodic disclosure requirements.

    Financing

    The Company is proceeding with the non-brokered private placement announced on November 2, 2012 and has increased the size of the offering from gross proceeds of up to $1,000,000 to gross proceeds of up to $1,100,000 (the “Offering”). Under the terms of the Offering the Company will offer up to 11,000,000 units (the “Units”) at a price of $0.10 per share of the Company (a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX-V has been equal or greater than $0.30 for any ten consecutive trading days after the hold period on the Common Shares has expired.

    The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the TSX-V. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX-V. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for general corporate purposes and may be used for the acquisition of oil and gas properties. The Company expects to close the Offering on or before December 31, 2012.

    Following closing of the Offering, the Company expects to announce a further private placement (the “Secondary Offering”) to fund its obligations in connection with the Acquisition.

    The Farmin Agreement, the Offering and the Secondary Offering are subject to TSX-V approval.

    Annual General Meeting

    The Company also announces that all matters were approved at the Company’s Annual General Meeting held in Vancouver, British Columbia, on December 12, 2012.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Update on Proposed Farm-In TransactionDecember 7, 2012

    VANCOUVER, BRITISH COLUMBIA - December 7, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) further to its news release of November 23, 2012 announcing a letter of intent (the “LOI”) with Alpine Oil & Gas Pty Ltd (“Alpine”), a wholly owned subsidiary of ADX Energy Ltd (ASX:ADX), to acquire a 15% working interest in the Chorbane Exploration Permit (the “Permit”), the Company is pleased to announce it has received an independent engineering and economic evaluation (the “Geological Report”) on the Permit from Petrotech Engineering Ltd. (“Petrotech”) of Burnaby, British Columbia. Petrotech was commissioned by Rift Basin to prepare the Geological Report in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities - for both due diligence and regulatory filing purposes. The Geological Report has been pre-filed with the TSX Venture Exchange for their review. This pre-filing follows Alpine’s official letter to ETAP (L'Entreprise Tunisienne d'Activités Pétrolières) of December 5, 2012 requesting approval for the transfer of a 15% working interest in the Permit from Alpine to Rift Basin.

    The proposed transaction (the “Proposed Transaction”) is subject to a number of conditions, including but not limited to, applicable regulatory approval (including approval of the TSX Venture Exchange), and the execution of a definitive agreement. The parties have agreed that the LOI will terminate on December 15, 2012 unless extended or earlier superseded by a definitive agreement. There can be no assurance that the Proposed Transaction will be completed. For further details on the Proposed Transaction see the Company’s news release dated November 23, 2012 (a copy of which is available under the Company’s SEDAR profile at www.sedar.com).

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999
    Website: www.riftbasinresources.com

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Letter of Intent November 23, 2012

    VANCOUVER, BRITISH COLUMBIA - November 23, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that its wholly-owned subsidiary Rift Basin International Corp. (“Rift Basin International”) has entered into a letter of intent (the “LOI”) with Alpine Oil & Gas Pty Ltd. (“Alpine”). Under the terms of the LOI it is proposed that Rift Basin, through Rift Basin International, will farm-in on and have the right to earn a 15% participating interest in the Chorbane exploration permit located in Tunisia (the “Proposed Transaction”). The Proposed Transaction is subject to a number of conditions, including but not limited to, applicable regulatory approval (including approval of the TSX Venture Exchange), due diligence and the execution of a definitive farm-in agreement (the “Definitive Agreement”). The parties have agreed that the LOI will terminate on December 15, 2012 unless earlier superseded by the Definitive Agreement. There can be no assurance that the Proposed Transaction will be completed.

    Gulfsands Petroleum plc (“Gulfsands”), Rift Basin’s strategic partner (as announced in the Company’s news release of November 14, 2012), is concurrently acquiring an additional 30% participating interest in the Chorbane exploration permit, subject to various regulatory approvals, to ultimately hold a 70% participating interest and be the Operator of the Chorbane joint venture.

    Chorbane Permit – Onshore Tunisia

    The Chorbane permit is located onshore central Tunisia near the port city of Sfax. The permit is surrounded by several producing oil fields and extensive oil and gas infrastructure. As Operator, Gulfsands intends to commence a seismic programme on the Chorbane permit in the New Year, which is currently estimated to cost approximately US$2 million.

    Following processing and evaluation of the seismic data captured in the upcoming work programme, Gulfsands is anticipating to drill at least one well on the Chorbane permit during calendar year 2014.

    Financing Update

    Further to the Company’s news release of November 2, 2012 (a copy of which is available under the Company’s SEDAR profile at www.sedar.com) announcing a non-brokered private placement for gross proceeds of up to $1,000,000 (the “Private Placement”), the Company reports that it expects to close the Private Placement on or before November 30, 2012. The net proceeds from the Private Placement will be used by the Company for general corporate purposes and may be used for the acquisition of oil and gas properties.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF” . The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Formation of Strategic Alliance with Gulfsands November 16, 2012

    VANCOUVER, BRITISH COLUMBIA - November 16, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that it has established a strategic alliance (the “Strategic Alliance”) with Gulfsands Petroleum plc (“Gulfsands”). The intention of the Strategic Alliance is to facilitate the pursuit and acquisition of petroleum projects (the “Projects”) in Tunisia and elsewhere in the Middle East and North Africa region for mutual benefit.

    The directors of Rift Basin and Gulfsands have until now been pursuing a number of potential Projects on an informal basis and matters have now reached a stage where the parties consider it appropriate to more formally establish the basis of this Strategic Alliance. It is the intention of the parties, unless otherwise agreed, that Gulfsands will act as the operator of any Project acquired under the Strategic Alliance and that Rift Basin’s and Gulfsands’ participating interests in any Project will be 30% and 70% respectively. Under the terms of the Strategic Alliance each party will have the right, but not the obligation, to submit any Project to the other party for consideration and a joint cooperation committee has been established to facilitate the cooperative review process between the parties.

    Completion of any transactions involving the Company’s participation in any Projects identified by the Strategic Alliance will be subject to a number of conditions, including but not limited to, TSX Venture Exchange (“TSX-V”) acceptance and if applicable pursuant to TSX-V requirements, majority of the minority shareholder approval. There can be no assurance that any transaction to acquire any of the Projects identified by the Strategic Alliance with Gulfsands will be completed.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    About Gulfsands

    Gulfsands is an independent oil and gas exploration and production company, whose shares are traded on the London Stock Exchange (AIM:GPX). Gulfsands’ major focus is on high impact projects in the Middle East and North Africa, where it has oil exploration, production and development projects in the Syrian Arab Republic (activities currently suspended in compliance with EU sanctions), and oil exploration projects in Tunisia. Gulfsands also produces oil & gas from a portfolio of properties in the USA, offshore Gulf of Mexico. Gulfsands' vision is to become one of the pre-eminent independent exploration and production companies in the Middle East and North Africa and a preferred operator and partner.

    ON BEHALF OF RIFT BASIN RESOURCES CORP.

    Wayne Koshman, Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Announces Private Placement for Gross Proceeds of Up to $1,000,000 November 2, 2012

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2012) -

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

    Rift Basin Resources Corp. (TSX VENTURE:RIF) (the "Company" or "Rift Basin") announces that it will proceed with a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of up to $1,000,000 (the "Offering"). Each Unit will consist of one common share of the Company (a "Common Share") and one-half of a Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 12 months from the closing of the Offering, subject to the acceleration provision described below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date the Company issues a news release announcing that the published closing price of the Common Shares on the TSX Venture Exchange (the "Exchange") has been equal or greater than $0.30 for any ten consecutive trading days after the hold period on the Common Shares has expired.

    The Company may pay a finder's fee on the Offering within the amount permitted by the policies of the Exchange. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for general corporate purposes and may be used for the acquisition of oil and gas properties.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol "RIF". The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin's SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    Wayne Koshman, Chief Executive Officer

    Cautionary Statement Regarding "Forward-Looking" Information

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Creates Advisory Board October 4, 2012

    Vancouver, B.C., October 4, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that it has created an advisory board for the purpose of bringing additional technical, financial and international expertise to the Company. Initially the advisory board will consist of the following members:

    Nordine Ait-Laoussine

    Mr. Ait-Laoussine is a former Algerian Oil Minister and former Head of Sonatrach. He is currently President of Nalcosa SA, an international energy consulting firm based in Geneva (Switzerland). Following undergraduate studies in Algeria and graduate studies in Morocco, Mr. Ait-Laoussine received his Master’s Degree in Petroleum Geology from the University of Michigan.

    After serving in various capacities in the Algerian Ministry for Industry and Energy between 1965 and 1969, he played an active role within OPEC during the 1970s, as well as taking the position of Senior Executive Vice President of Sonatrach in charge of upstream activities, and later taking charge of downstream operations, exports and local distribution.

    In September 1979 Mr. Ait-Laoussine left Sonatrach to establish an international consultancy, first in Vienna (Austria) where he served as Advisor to the OPEC Secretariat, and later in Geneva where he created Nalcosa in 1980. Regular clients of Nalcosa have included most governments, national oil companies of OPEC countries, and various public and private oil and gas industry participants, including major international companies.

    In 1981 Mr. Ait-Laoussine became Managing Director of Geneva-based International Energy Development Corporation (IEDC) and President of IED Consultants. Following the take-over of the IEDC Group by KPC in July 1985 Mr. Ait-Laoussine became CEO of Kuwait Foreign Petroleum Exploration Co. (KUFPEC), a wholly owned subsidiary of KPC.

    Mr. Ait-Laoussine served as Minister of Energy in the Algerian Government from June 1991 to July 1992 and as Special Advisor to the Prime Minister from August 1992 to September 1993. He is a member of the Oxford Energy Policy Club, the Advisory Board of the Energy Intelligence Group (EIG), the Geneva Petroleum Club (GPC), the Paris Energy Club and the International Advisory Board of Dana Gas, and has participated and spoken at international conferences throughout his career, and written extensively on international energy issues, strategy and long term trends.

    Paul Matysek

    Mr. Matysek is a professional geoscientist with more than 25 years international experience. He is a recognized entrepreneur, specializing in developing resource-based companies from conception to production, and has held or holds senior management and/or director positions with several natural resource exploration and development companies.

    Mr. Matysek is the former CEO and founder of Lithium One Inc. Under Mr. Matysek's stewardship, Lithium One developed a leading lithium brine resource in Argentina until recently acquired by Galaxy Resources Ltd. (July 2012). Previously, Mr. Matysek was the co-founder, CEO and president of Energy Metals Corp. (2005 - August 2007), a pure uranium mining and development company, until acquired by Uranium One Inc. in a billion-dollar-plus transaction. Mr. Matysek was also the president and CEO of Potash One Inc., a Saskatchewan-based potash exploration company (Nov 2007 - Mar 2011), until acquired by K+S Aktiengesellschaft for $450-million in an all-cash deal. Mr. Matysek is currently a director of Nevada Copper Corp., Aurcana Corp. and a number of other natural resource companies.

    Dr. John Gault

    Dr. John Gault is an independent economist based in Switzerland. He assists clients in the energy industries with investment decisions, the design and negotiation of contracts, and corporate planning. Dr. Gault previously served as Managing Director, IEDConsultants SA and Chief Economist of the International Energy Development Corporation (IEDC) group, now part of Kuwait Petroleum Corporation. Prior to joining IEDC in Geneva in 1982, Dr. Gault was affiliated with the Boston-based energy-consulting firm of Jensen Associates, Inc.

    Dr. Gault co-founded the Montreux Energy series of international conferences. He is an associate member of the faculty at the Geneva Center for Security Policy, a member of the Geneva Petroleum Club, a director of Tidal Electric, Inc., and Deputy Editor of the Journal of World Energy Law and Business (published by Oxford University Press and the Association of International Petroleum Negotiators). He is also Co-Director of the program Executive Master in International Oil & Gas Leadership at The Graduate Institute in Geneva.

    Dr. Gault is a graduate of Yale University and holds a PhD in Economics and Middle Eastern Studies from Harvard. He has taught economics at the American University of Beirut and Bir Zeit University (West Bank), and is the author of numerous publications concerning taxation and fiscal systems, government price regulation, the economics of exhaustible resources, the politics of international oil trade, and methods of designing appropriate contractual terms.

    Commenting on the creation of the advisory board and the recent appointment of Mongi Haffouz as President and a director of the Company’s wholly-owned subsidiary, Rift Basin International Corp. (see the Company’s news release of September 28, 2012), Wayne Koshman, CEO of the Company stated: “We are very pleased that Dr. Gault and Messrs. Ait-Laoussine and Matysek have joined our team of advisors and that Mr. Haffouz has taken on the role of President of Rift Basin International. The advisors and the President of Rift Basin International add tremendous depth to our team and bring with them extensive capital markets, energy sector and oil and gas transaction expertise.”

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF”. The Company is currently listed as a Tier 2 mining issuer and is transitioning to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    (signed) “Wayne Koshman”
    Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Appoints President of International Operations September 28, 2012

    Vancouver, B.C., September 28, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) announces that it has appointed Mongi Haffouz as President and a director of Rift Basin International Corp. (“Rift Basin International”). Rift Basin International is a wholly-owned subsidiary of the Company incorporated under the laws of the British Virgin Islands.

    Mr. Haffouz has over 30 years of broad international oil and gas industry experience, including 23 years with Marathon Oil in various international and head office positions. Mr. Haffouz is an experienced oil and gas contract negotiator and speaks fluent Arabic, French and English.

    Mr. Haffouz was Finance & Commercial Manager, Administration and Public & Government Relations Manager of Marathon Oil’s Tunisian operations from 1983 to 1996 and Finance & Administration Manager and Government Relations Manager of Marathon Oil’s Gabon operations from 1996 to 2001.

    During his tenure at Marathon Oil Mr. Haffouz actively contributed to the development of discoveries in Tunisia (Robbana, Ezzaouia & Belli fields), and was chief negotiator with the Tunisian local authorities & ETAP (the national Oil Company) which ultimately led to the joint venture between Marathon Oil & ETAP (MARETAP) to operate the Ezzaouia & Belli fields. Mr. Haffouz was instrumental in the negotiation and acquisition of two production sharing agreements (the Kowe & Akoumba Permits) and in the field development of Marathon Oil’s Gabon discoveries (Tchatamba South & Tchatamba West fields). From 1998 to 2000 Mr. Haffouz was in charge of coordinating an arbitration case on behalf of Marathon Oil at the International Chamber of Commerce in Paris.

    From 2001 to 2006 Mr. Haffouz served as an international oil & gas independent consultant and from 2006 to 2010 served as Vice-President and General Manager of Voyageur Oil and Gas, raising approximately $16 million in start-up capital from Middle East investors.

    Wayne Koshman, CEO of Rift Basin commented: “We are very pleased to announce Mr. Haffouz as the President of Rift Basin International Corp. Mr. Haffouz’s unique and extensive oil and gas experience will help position the Company towards securing its initial oil and gas asset.”

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF” . The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    (signed) “Wayne Koshman”
    Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Rift Basin Grants Stock Options September 26, 2012

    Vancouver, B.C., September 26, 2012 – Rift Basin Resources Corp. (TSX-V: RIF) (the “Company” or “Rift Basin”) has granted incentive stock options to certain directors, officers and consultants of the Company to purchase up to 2,900,000 common shares of the Company at a price of $0.10 per common share. The stock options are exercisable on or before September 26, 2017 and vest in stages over the course of a year with 25% to vest immediately and a further 25% of the options to vest in each threemonth period thereafter.

    The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.

    About Rift Basin

    The Company is listed on the TSX Venture Exchange under the symbol “RIF” as a Tier 2 . The Company is currently listed as a Tier 2 mining issuer and is seeking to become an oil and gas issuer. Additional information about Rift Basin is available under Rift Basin’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    (signed) “Wayne Koshman”
    Chief Executive Officer

    For further information, please contact:

    Rift Basin Resources Corp.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Mayen Announces Stock Split and Name ChangeSeptember 24, 2012

    Vancouver, B.C., September 24, 2012 – MAYEN MINERALS LTD. (TSX-V: MYM) (the “Company” or “Mayen”) further to its news release of July 5, 2012 and its Filing Statement dated July 24, 2012 (a copy of which is available under the Company’s SEDAR profile at www.sedar.com) Mayen announces that it received requisite shareholder approval, via consent resolution, to proceed with the forward stock split (the “Stock Split”).

    The effective date for the Stock Split is September 25, 2012 and the record date (the “Record Date”) for the Stock Split has been set for September 27, 2012.  Shareholders of record on the Record Date will keep their current share certificates and will be provided with additional share certificates representing the common shares to which they are entitled as a result of the Stock Split.  It is expected that the Company’s transfer agent, Computershare Trust Company of Canada (“Computershare”), will mail those certificates on or about October 2, 2012.  Current outstanding share certificates representing the common shares should be retained by shareholders and should not be forward to the Company or Computershare.  Following the Stock Split the Company will have 41,233,200 post-Stock Split common shares issued and outstanding.  Outstanding stock options and share purchase warrants will also be adjusted by the Share Split and their respective exercise prices will be adjusted accordingly.

    In addition, the Company announces that effective on Tuesday, September 25, 2012, the Company’s name will change from “Mayen Minerals Ltd.” to “Rift Basin Resources Corp.”  The Company’s trading symbol will change from “MYM” to “RIF” under new CUSIP number 766543102 and new ISIN 7665431028.

    About Mayen Minerals Ltd.

    The Company is listed on the TSX Venture Exchange under the symbol “MYM”.  Additional information about Mayen is available under Mayen’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    (signed) “Wayne Koshman”      
    Chief Executive Officer

    For further information, please contact:

    Mayen Minerals Ltd.
    Wayne Koshman, Chief Executive Officer
    Telephone: (604) 608-1999

    Cautionary Statement Regarding “Forward-Looking” Information

    Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Mayen’s control including receipt of final approval of the TSXV in connection with the Offering.  Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

    Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  • Change to the Board and Management and Completion of Private Placement August 27, 2012

    Vancouver, B.C., August 27, 2012 – MAYEN MINERALS LTD. (TSX-V: MYM) (the “Company” or “Mayen”) is pleased to announce the completion of (i) a change to the board and management (together, the “Change in Management”) and (ii) a non-brokered private placement for total proceeds of $971,500, representing an increase of $221,500 over the offering announced by the Company on July 5, 2012.

    Change of Management

    The Company is pleased to welcome Wayne Koshman as Chief Executive Officer and Robert van Santen as Chief Financial Officer and Corporate Secretary following the resignations of Dennis van Dyke, Bruno Arnold and Zeny Manalo as Chief Executive Officer, Chief Financial Officer and Corporate Secretary, respectively. The Company is also pleased to welcome Paul Lathigee to the board along with Messrs. Koshman and van Santen following the resignations of Mr. van Dyke, Joao Manuel as directors of the Company. As a result of the Change in Management, the current board of the Company is comprised of Mr. Arnold and Robert Atkinson and new board members Messrs. Koshman, van Santen and Lathigee. The Company thanks Messrs. van Dyke and Manuel for their service and welcomes Messrs. Koshman, van Santen and Lathigee to the board.

    The Change in Management was more particularly described in the Company Filing Statement dated July 24, 2012 (a copy of which is available under the Company’s SEDAR profile at www.sedar.com) and was approved by the Company’s shareholders by consent resolution.

    The biographies of the incoming directors and officers of the Company are set out below.

    Biographies of New Directors and Management

    Mr. Koshman has a broad capital market background in both private and public financings. He brings over 15 years of international business development experience in China, Japan, North Africa and Central Asia. He has also established, as a founding shareholder, a number of companies with interests in Asia and North Africa with particular emphasis on the energy and mining sectors, including Pure Silver Mining, Dynasty Gold, Georgia Ventures, Terrawest Energy and Voyageur Oil and Gas Corp. Mr. Koshman holds a Bachelor of Commerce degree from the University of Calgary.

    Mr. van Santen brings over 27 years of investment industry and financing experience to Mayen, with a record of success in providing financial and intellectual capital to the public markets. He began his career in 1986 as an Investment Advisor with Burns Fry (now Nesbitt Burns), spent several years with Frank Giustra's Yorkton Securities' Natural Resources Group, and was recognized as "Broker of the Year" while VP with the TSX Group's oldest member firm. A noted technical analyst and publisher, Mr. van Santen holds a Bachelor of Commerce degree in Organizational Behavior from Concordia University, a Chartered Accountant designation in British Columbia, a Chartered Market Technician's designation from the Market Technicians Association in New York, and has certifications that include the Canadian Securities Institute’s CSC (Honours), CPC (Honours), PDO and the OLC.

    Mr. Lathigee has over 30 years of experience in the financial industry, beginning as an investment advisor with Wood Gundy and later with Merrill Lynch Canada. He was vice-president of investor relations of an AMEX/TSX-listed company, working directly with several large national firms in various corporate finance efforts, and founded Vanguard Shareholder Solutions in 2001 to offer one-stop full-service investor relations services. Mr. Lathigee has provided many high-profile and successful public companies with a suite of corporate finance, investor relations, trading and research components designed to enhance market awareness, liquidity and reduce the cost of capital. Mr. Lathigee is a graduate of Dalhousie University and has successfully completed the Canadian Securities Course (CSC).

    Non-Brokered Private Placement

    The Company is pleased to announce the completion of a non-brokered private placement of 9,715,000 units (each a “Unit”) at a price of $0.10 per Unit for gross proceeds of $971,500 (the “Offering”). Each Unit issued in connection with the Offering is comprised of one common share in the capital of the Company and one common share purchase warrant, with each whole warrant exercisable for the purchase of one common share in the capital of the Company for a period of two years following closing of the Offering at a price of $0.20 per share. The expiry date of the warrants issued in connection with the Offering is subject to acceleration in the event the common shares of the Company trade at a price of $0.60 or higher on the TSXV or such other market as the common shares of the Company may trade from time to time, for a period of 10 consecutive trading days.

    The Company will use the net proceeds of the Offering for due diligence costs associated with the identification and acquisition of oil and gas interests, as well as for general working capital purposes. In accordance with applicable securities legislation, all securities issued in connection with the Offering are subject to a statutory hold period expiring on December 28, 2012.

    About Mayen Minerals Ltd.

    The Company is listed on the TSX Venture Exchange under the symbol “MYM”. Additional information about Mayen is available under Mayen’s SEDAR profile at www.sedar.com.

    ON BEHALF OF THE BOARD

    “Robert van Santen”

    Chief Financial Officer & Corporate Secretary

  • Change to the Board and Management, $750 000 Private Placement, Name Change and Stock Split July 5, 2012

    MAYEN MINERALS LTD.(TSX-V: MYM)(the “Company” or “Mayen”) is pleased to announce that it intends to complete the following transactions, each of which is discussed in more detail below: :

    a change of management;
    the transition from a mining issuer to an oil and gas issuer;
    a change of name suitable for an oil and gas issuer;
    a forward share split on the basis of two new common shares for each currently outstanding single common share; and
    a non-brokered private placement for gross proceeds of up to $750,000.

    Completion of these transactions is subject to receipt of all corporate and regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”). In connection with its application for receipt of TSXV approval, the Company will prepare a public disclosure document (the “Disclosure Document”) in a form acceptable to the TSXV detailing the transactions discussed below.

    Change of Management

    It is expected that the Board will be increased by one seat to comprise five Board members and that Dennis van Dyke and Joao C. Manuel will resign fromthe Board. The Company expects that Bruno Arnold (director and Chief Financial Officer) and Robert Atkinson (director) will remain on the Board. The Company also expects that Mr. van Dyke will resign as President and Chief Executive Officer, Mr.Arnold will step down as Chief Financial Officer and Zeny Manalo will resign as Corporate Secretary.

    Following the resignations of Messrs. Van Dyke and Manuel from the Board it is expected that Wayne Koshman will be appointed as an additional directorand that the two remaining Board positions will be filled by Robert van Santen and Paul Lathigee. It is also anticipated that, subject to receipt of regulatory approval, Mr. Koshman will be appointed as Chief Executive Officer of the Company and Mr. van Santen will be appointed Chief Financial Officer and Corporate Secretary of the Company (collectively, the “Change of Management”). The biographies of the incoming directors and officers are set out below.

    Completion of the Management Change is subject to receipt of shareholder approval which the Company intends to solicit by way of consent resolution in lieu of a shareholders’ meeting.

    Biographies of Proposed Officers and Directors

    Mr. Koshman, proposed Chief Executive and a director of the Company, has a broad capital market background in both private and public financings. He brings over 15 years of international business development experience in China, Japan, North Africa and Central Asia. He has also established, as a founding shareholder, a number of companies with interests in Asia and North Africa with particular emphasis on the energy and mining sectors. Mr. Koshman holds a Bachelor of Commerce degree from the University of Calgary.

    Mr. van Santen, proposed Chief Financial Officer, Corporate Secretary and a director of the Company, will bring over 26 years of investment industry andfinancing experience to the Company, with a record of success providing financial and intellectual capital to the mining, energy and entertainment sectors. Mr. van Santen began his career in 1986 as an investment advisor with Burns Fry (now BMO Nesbitt Burns Inc.), spent several years with Frank Giustra’s Yorkton Securities’ Natural Resources Group, and was recognized as “Broker of the Year”, as VP with the TSX Group’s oldest member firm. Mr. van Santen is Managing Director of Phi Beta Capital Advisors Ltd., focused on early-stage investments and advisory services combining debt, equity and merchant banking expertise with a resource industry focus. He has earned a Bachelor of Commerce degree in Organizational Behaviour, a Chartered Accountant designation in British Columbia, a Chartered MarketTechnician’s designation in New York and has certifications that include the CSC (Honours), CPC (Honours), Partners, Directors and Officers Course and the Canadian Options Course. Mr. van Santen isa former commissioned officer with the RCAF (Air Command).

    Mr. Lathigee, proposed director of the Company, hasover 30 years of experience in the financial industry, beginning as an investment advisor with W ood Gundy and afterward working with Merrill Lynch Canada Inc. Subsequently he became vice-president of investor relations of an AMEX/TSX-listed company, working directly with several large national firms in various corporate finance efforts. Mr. Lathigee founded Vanguard Shareholder Solutions in 2001 to offer one-stop full-service investor relations services. He has acted as a consultant to many high-profile and successful public companies for their investor relations and financing efforts,providing them with creative insight, knowledge and strategic focus to optimize their investor relations and communications programs. Mr. Lathigee is a graduate of Dalhousie University and has successfully completed the Canadian Securities Course.

    Change of Status from Mining Issuer to Oil and Gas Issuer

    The Company is currently listed as a mining issuer on the TSXV. The Company has been exploring acquisition opportunities of various oil and gas properties and accordingly considers it appropriate to switch from being a mining issuer to an oil and gasissuer.

    Name Change

    In connection with the change from being a mining issuer to an oil and gas issuer, the Company intends to complete a corporate name change to a name suitable for an oil and gas issuer. The proposed new name will be announced concurrent with filing of the Disclosure Document.

    Stock Split

    The Company also announces a proposed forward splitof its issued and outstanding common shares on the basis of two new common shares for each issued and outstanding individual share (the “Stock Split”). As a result of the Stock Split, the Company’s issued and outstanding share capital will increase from 10,901,600 common shares to 21,803,200 common shares.

    Completion of the Stock Split is subject to receiptof shareholder approval which the Company intends to seek by way of consent resolution in lieu of a shareholders’ meeting. If approved, it is anticipated that the Stock Split will be effected as soon as practicable following receipt of all necessary approvals.

    $750,000 Non-Brokered Private Placement

    The Company also announces its intention to conducta non-brokered private placement of up to 7,500,000 units (each a “Unit”) at the pre-split price of $0.10 per Unit for gross proceeds of up to $750,000 (the “Offering”). Each Unit issued in connection with the Offering will be comprised of one pre-split common share in the capital of the Company and one pre-split common share purchase warrant, with each whole pre-split warrant exercisable for the purchase of one pre-split common share in the capital of the Company for a period of two years following closing of the Offering at a price of $0.20 per share. The expiry date of the warrants issued in connection with the Offering will be subject to acceleration in the event the common shares of the Company trade at a price of $0.60 or higher on the TSXV or such other market as the common shares of the Company may trade from time to time, for a period of 10 consecutive trading days. The Companymay pay finders’ fees in connection with the Offering up to the maximum amount permitted under the policies of the TSXV. The Company will use the proceeds of the Offering for due diligence costs associated with the identification and acquisition of oil and gas interests, as well as for general working capital purposes.

    The Offering is priced on a pre-Stock Split basis. Closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the approval of the TSXV. In accordance with applicable securities legislation, all securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance. The Company intends to use the net proceeds from the Offering to identify and, if considered appropriate, complete certain asset acquisitions.

    About Mayen Minerals Ltd.

    Mayen is a Canadian junior exploration company focused on the acquisition, exploration, and development of precious and base metal. The Company is listed on the TSXV under the symbol “MYM”. Additional information about Mayen is available under Mayen’s SEDAR profile at www.sedar.com

    ON BEHALF OF THE BOARD

    “Dennis A. van Dyke”

    President and Chief Executive Officer



RECENT NEWS

Publicly traded shell undergoing change of business into Oil & Gas mostly in North Africa & West Africa, and the Middle East. North Africa is awash in petroleum reserves, particularly in Libya, Algeria, Egypt, and Tunisia.

Nigeria is the biggest petroleum producer in West Africa, but Cameroon, Gabon, and the Congo also contain oil reserves.

CURRENT OPERATIONS

Management is currently reviewing several projects in Africa and Middle East and will keep our shareholders up to date on any material developments.