Following the completion of drilling rig tenders, Rialto Energy Limited (Rialto or the Company) has entered into an agreement with Transocean for the provision of the GSF Monitor Drilling Unit to undertake its First Phase Drilling Campaign in CI-202, located offshore Cote d'Ivoire.

The GSF Monitor is a jack-up drilling unit capable of drilling in water depths up to 100m and has been contracted to complete a 2-3 well program commencing in 1st quarter 2012. This program will more than fulfil the first phase work program commitments in CI-202.

Rialto is very pleased to be shortly commencing drilling in CI-202 and looks forward to working with Petroci, our partner in the Block, in advancing the development of the significant oil and gas resources in CI-202.

Rialto Abidjan Office to Open in September The Company is pleased to advise that a significant step in the ongoing build-up by Rialto towards the commencement of drilling has been undertaken through the securing of a local office in Cote d'Ivoire's commercial capital, Abidjan. The office will host and support the Rialto's upcoming drilling operations and will be fully operational by the beginning of September 2011.

Tags: Rialto Energy