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History
ASX Listing
Rialto Energy Ltd was listed on the Australian Securities Exchange ("ASX") on 28 July 2006 for the purpose of investing in oil and gas exploration and production projects in Australia and internationally.
Background
Oil and gas play a key role contributing strongly to Australia’s economy and to the economies of many other countries. However the easily found and politically secure oil and gas opportunities have been largely discovered and exploited, so for growth in the resource base to be sustained, further investment and new approaches are required.
It was in that background that Rialto was formed, to identify and develop high impact oil and gas exploration, development and production opportunities in a responsible and profitable manner.
Rialto Energy Ltd aims to maximise shareholder wealth by leveraging its strong technical skills, considerable international and domestic experience and extensive industry relationships. The key personnel aim to identify and develop high impact growth opportunities in oil and gas in Australia and selected international locations. This will be done in an efficient and responsible manner.
Assets
Rialto Energy Ltd has significant working interest in two potentially highly rewarding offshore exploration permits, WA-291-P and WA-399-P, both located within the prospective Carnarvon Basin on the North West Shelf, offshore Western Australia. These blocks are currently being screened for prospects utilising either newly acquired 2D seismic data or recently reprocessed 2D seismic data.
Rialto Energy Ltd is actively evaluating growth opportunities, particularly those arising under its International Joint Venture Agreement with Challenger Minerals Inc (CMI). CMI is a wholly owned subsidiary of Transocean Inc., which is the largest offshore oil and gas drilling contractors and the leading provider of drilling management services worldwide.