Ivory Coast: Rialto Encounters ‘Encouraging’ Oil Shows at Gazelle Well

Ivory Coast: Rialto Encounters 'Encouraging' Oil Shows at Gazelle Well

Rialto Energy Limited an oil and gas exploration and production company, has discovered hydrocabons at its Gazelle-P3 ST well offshore Côte d’Ivoire.

The well has been drilled to a depth of 3161m MDRT (2584m TVDSS). The well has encountered encouraging oil and gas shows, which will be evaluated by wire line logging and fluid and pressure sampling, once the well reaches an estimated depth of 3400 MDRT. Rialto said it would provide a further update once the drilling and subsequent logging programme is completed.

The Gazelle-P3 ST well was spudded on 12 March 2012 using the Transocean GSF Monitor jack-up drilling rig. The well is the first of an overall three well drilling programme on CI-202 that is anticipated to take six months to complete, together with testing.

Rialto yesterday announced that the government of Côte d’Ivoire granted an Exclusive Exploitation Area (“EEA”) to the company over the Gazelle Field on Block CI-202. The EEA grants Rialto with the right to produce hydrocarbons from Gazelle over a tenure period of 25 years.

Offshore Energy Today Staff, May 15, 2012