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New Ventures
Rialto Energy Ltd has a Joint Venture with Challenger Minerals Inc. (CMI), a wholly owned subsidiary of Transocean Inc., one of the world's largest drilling contractors. This agreement provides to Rialto Energy Ltd access to a range of high quality exploration, field appraisal and production opportunities in areas of mutual interest to Rialto Energy and CMI. Rialto Energy has a guaranteed right to particate with no obligation. Furthermore, the Joint Venture access the worldwide drilling expertise and drilling management services of Applied Drilling Technology Inc. (ADTI), also a wholly owned subsidiary of Transocean Inc. which significantly enhances the ability to deliver on projects in the currently tightly constrained drilling services market. Further information regarding the corporate model for CMI and its International Joint Venture structure can be found in the Investor Relations section under the Investor News and Information Tab.
Elsewhere, Rialto Energy Ltd is also actively screening and persuing opportunities independently in key focus areas of interest.