Rialto Encounters Oil and Gas Zones at Gazelle ST-2 Well, Offshore Ivory Coast

Rialto Energy Limited has provided an update on drilling operations at the Gazelle-P3 ST2 Well, offshore Côte D’Ivoire as at 06:00hrs, 19 June 2012 (GMT).

“Since the last report we are pleased to announce that the well was successfully drilled into the planned Albian target to a total depth of 2959m MD (2684m TVDSS,) and we have encountered both oil and gas zones as anticipated,” said Rialto in a press release.

Wireline logs have been run and MDT pressures and samples taken. Oil and gas PVT quality samples were recovered from the Upper Cenomanian sands, as expected. The samples will now be used to assist in the design of the Gazelle field development processing facilities. Logging ontinues with VSP and sidewall coring and these logging operations are expected to be concluded in the next three days.

Rialto will provide a further update in the coming days once logging operations are completed and following a full evaluation of all of the data obtained through the drilling of the sidetrack.

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Offshore Energy Today Staff, June 20, 2012