Rialto Energy’s COO Resigns (Australia)

Rialto Energy Limited advises that Charlie Nieto has resigned as Chief Operating Officer of the Company with immediate effect.

Commenting on today’s announcement, Managing Director, Rob Shepherd said:

“I would like to thank Charlie for his significant contribution to the Company over the last three years. Charlie is a highly capable COO with whom we have enjoyed working and we wish him well with his future endeavours.

“Whilst the departure of our COO will result in a smaller senior management team, following the previously announced transaction with Vitol S.A. and termination of the contract with Sapphire Driller Company, the Company’s operating requirements in the Cote d’Ivoire have changed significantly and it is important that our organisation reflects that accordingly.

“We are confident that we have the core team in place to run the Company and its current assets in an efficient and cost-effective manner with the clear objective of delivering significant value appreciation for our shareholders.”

Press Release, July 31, 2013

 

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