Rialto Energy Ltd. has entered into an agreement with Vantage Drilling Company regarding payment terms in relation to the early termination of the rig contract regarding the Vantage Sapphire Drilling Rig. Under the terms of the settlement, Rialto will pay Vantage an amount equal to 75 days of operating rate, being US$12.375 million in aggregate. [...]
The Board of Directors of Rialto announced that Robert Shepherd, who has been Interim CEO since 26 November 2012, has been appointed to the fulltime position of Managing Director, based in London. Further to the appointment of Shepherd, Rialto announces that Bruce Burrows has advised the Company of his intention to retire from Board during [...]
The Board of Rialto announces the appointment of Robert James Shepherd as Interim CEO of the Company, effective Monday, 26 November 2012. Shepherd has over 20 years of experience in the Oil & Gas industry and brings a wealth of skills to the Company. Rialto also announces that Jeff Schrull, who last month notified the [...]
Rialto reports that the Company’s Managing Director Jeff Schrull has informed the Board that he intends to relocate back to Perth, Western Australia from the Company’s current base of operations in London by mid-2013. The decision by Schrull is further to a number of ongoing Rialto Board discussions on strategy, near term work programme, Board [...]
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The Board of Rialto announces the appointment of Mr. Andrew Donald Bartlett as a Non-executive Director of the Company. Mr. Bartlett. 54, has over 30 years of experience in the Oil & Gas Industry. He has a wide range of skills, in both the upstream industry and across finance in M&A, Project and Mezzanine Debt, [...]
Rialto Energy Ltd has announced thatPetroci Holdings, the Government of Côte d’Ivoire state-owned oil and gas company, has elected to increase its paying interest in the Gazelle Field Exclusive Exploitation Area (“Gazelle Field EEA”) which is located within Block CI-202. Petroci Holdings, which currently holds a 15% interest (comprising a 5% paying interest) in Block [...]
Rialto Energy Limited provides a weekly update on drilling operations at the Gazelle-P4 Development Well, offshore Côte D’Ivoire as at 10:00hrs, 15 August 2012 (GMT). Since the last report, the well has been drilled to the 13 3/8″ casing point at 2123m MDRT. Current operations are drilling out cement shoetrack, prior to performing a formation [...]
Rialto Energy announces that the Block CI-202 joint venture (Rialto 85% working interest and operator and Petroci 15%) has elected to release the Transocean GSF Monitor drilling rig after the completion of drilling and testing of the current Gazelle-P4 development well. This will allow the JV to focus on the FEED for the Gazelle field [...]
Rialto Energy Limited provides a weekly update on drilling operations at the Gazelle-P4 Development Well, offshore Côte D’Ivoire as at 10:00hrs, 31 July 2012 (GMT). Since the last week’s spudding, the well has been drilled to 538m MDRT. Current operations are drilling ahead to the 20″ casing point at 550m MDRT. The company expects to [...]
Rialto announces that the Gazelle-P4 development well was spudded on 25 July 2012 using the Transocean GSF Monitor drilling rig. Gazelle-P4 is testing the oil potential of the UC-2 and UC-4 oil reservoirs as well as the gas potential of the UC-3, UC-5, LC-1 and LC-2 gas reservoirs discovered by the IVCO-12 and IVCO-21 wells. [...]
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