Rialto, the independent oil and gas company focusing principally on exploration, development and production opportunities in West Africa, is pleased to provide the following corporate update.

As previously announced, the Company continues preparations for drilling a minimum of two wells on Block CI-202 offshore Cote D'Ivoire to meet its PSC exploration commitments.

The Company continues to work up its preferred drilling targets in light of the recently received Pre-Stack Depth Migration data set from the 3D seismic survey that was completed in late 2011. Additional technical and economic analytical work is being conducted on identified prospects to optimize final prospect selection. This prospect selection will also be subject to joint venture agreement from partner Petroci, as well as input from potential incoming joint venture partners.

Tags: Rialto Energy