Rialto Energy Limited (ASX:RIA, AIM:RIA) is an oil and gas exploration and production company with offices in Perth (Australia), London (UK) and Abidjan (Cote d'Ivoire)
CI-202 - Cote d'Ivoire
On 12 March 2012, Rialto commenced a fully funded, three well drilling programme in CI-202 using the Transocean GSF Monitor drilling rig. Rialto has contracted the Vantage Sapphire rig for a three to five well exploration campaign during 2013.
A Competent Person's Report completed in December 2012 by RPS Energy Services in relation to CI-202 certified Total Mean Contingent Resources of 40MMbbls of liquids and 270 Bcf of gas, in addition to Total Mean Prospective Resources of 898 MMbbls of liquids and 2,936Bcf of gas.
The Company has received approval for its Field Development Plan ("FDP") over the Gazelle Field and has recently executed a Gas Sales Memorandum of Agreements ("MOU"), which will be superseded by a final binding agreement at Final Investment Decision ("FID"), with the Government of the Republic of Cote d'Ivoire.
Accra Block - Ghana
In December 2012 Rialto were approved to farm-in to the Offshore Accra Block in Ghana. A high impact exploration well is due to be drilled on this block during 2013, targeting a large deepwater Cretaceous stratigraphic Trap – the Starfish Prospect (665 MMbbls mean prospective resources). There are a number of similar size prospects in the block, mapped on a high quality, recently acquired 3D survey, and in an exploration well success case, this follow-up potential could result in the discovery of a multi-billion barrel oil province.
WA-399-P - Australia
Following a successful divestment campaign, Apache Energy took a majority stake of 60% working interest and operatorship of WA-399-P. Rialto Energy Ltd currently holds 12% working interest in a potentially highly rewarding WA-399-P exploration permit, which is located offshore in the prospective Exmouth Sub-Basin on the North West Shelf, offshore Western Australia. A high graded prospect portfolio has been identified by the Joint Venture. Acquisition of new seismic data has been completed and interpreted during 2012 to comprehensively study the existing prospect portfolio for a well commitment in 2014.
Rialto Energy Ltd is actively evaluating growth opportunities.