Rialto Energy Ltd RIA Appointment of Interim CEO

  Rialto Energy Ltd (RIA) - Appointment of Interim CEO

RNS Number : 8650R
Rialto Energy Limited
23 November 2012






To: Company Announcements Office

 ASX Limited, Exchange Centre

 20 Bridge Street

                              Sydney                               NSW 
2000

                                                                             

                                                    ASX Code and AIM Code: RIA



                              Rialto Energy Ltd

                         ("Rialto" or the "Company")

                                      

                          Appointment of Interim CEO



The Board of Rialto is pleased to announce the appointment of Mr. Robert James
Shepherd as Interim CEO of the  Company, effective Monday, 26 November  2012. 
Mr. Shepherd has over  20 years of  experience in the Oil  & Gas industry  and 
brings a wealth of skills to the Company.



Rialto also announces that Mr. Jeff Schrull, who last month notified the Board
of his intention to resign as Managing Director in order to relocate to  Perth 
in mid-2013, will step  down from this  position at the  end of the  Company's 
Annual General Meeting to be held today in Perth. Mr Schrull will continue his
employment  with  Rialto  whilst  the  Company  progresses  a  number  of  key 
initiatives, including the identification of an industry partner for the  2013 
CI-202 exploration and appraisal drilling programme. Further, Mr. Schrull will
also resign as  a director  once the Company  finalises the  appointment of  a 
further Australian resident director.



Rob Shepherd  (aged  45) joins  the  Company having  previously  been  Finance 
Director of  AIM  Listed,  African focussed,  Dominion  Petroleum,  which  was 
acquired by Ophir Energy for around US$220 million in February 2012.



Mr. Shepherd's  Oil &  Gas  executive experience  also  includes his  role  as 
Non-Executive Director of Imperial Energy Corporation, a FTSE 250 oil company,
between June 2007 and December 2008.



Prior to joining Dominion, Mr. Shepherd was Senior Vice President of  Emerging 
Markets at  ABN  AMRO  Bank.  Mr.  Shepherd  graduated  with  a  Bachelor  of 
Mechanical Engineering from  Sheffield University  and also holds  a MBA  from 
INSEAD, France.



The Rialto Board has initiated a thorough search for a full-time CEO and  will 
provide an update on the process in due course.



Commenting on today's announcement, Rialto's Chairman, Bruce Burrows said:



"We are delighted to have appointed Rob Shepherd as interim CEO to the Company
and are confident that he is an ideal candidate to assume the reins whilst  we 
continue the search for a permanent replacement for Jeff.



Rob's experience and  knowledge obtained during  his role as  a director of  a 
small-cap African  focussed E&P  will be  invaluable to  the Company  at  this 
exciting time in its development.



Whilst we accept Jeff's  decision to step down  from the position of  Managing 
Director, we are pleased  that we can retain  his experience and expertise  to 
work alongside Rob and the rest of the team as we progress the Company through
a busy pipeline of corporate and operational activity."



Enquiries to:



Buchanan               Tim Thompson, Ben Romney or Helen Chan           
(Financial PR London)  Telephone:           +44 (0)20 7466 5000

                       Email:               rialtoenergy@buchanan.uk.com

                                            
RBC Capital Markets    Matthew Coakes or Daniel Conti         
(NOMAD)                Telephone:           +44 (0)20 7653 4000

                       
PPR                    Colin Hay
(Financial          PR Telephone:           +61 8 9388 0944 or +61 404 68 3355
Australia)
                       Email:               colin.hay@ppr.com.au

                                            
Rialto Energy Limited  Jade Hockie          

                       Telephone:           +44 (0)20 7042 8500

                       Email:               admin@rialtoenergy.com

                                            



Save as disclosed above, and in accordance with AIM Rule 17, there is nothing
further to disclose under Schedule Two, paragraph (g) of the AIM Rules for
Companies.



About Rialto Energy Ltd



Rialto Energy Limited (ASX:RIA, AIM:RIA) is an oil and gas exploration and
production company with current operations in the Côte d'Ivoire and Australia.



In Cote d'Ivoire, Rialto is the Operator (85% working interest) of the CI-202
block offshore, which contains the Gazelle Field.



Rialto also has an interest in the Apache operated WA-399-P Block in the
Carnarvon Basin, Western Australia.









                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCFEASIDFESELF -0- Nov/23/2012 07:00 GMT
 
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