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: firstname.lastname@example.org 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: email@example.com Rialto Energy Limited Jade Hockie Telephone: +44 (0)20 7042 8500 Email: firstname.lastname@example.org 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
Rialto Energy Ltd RIA Appointment of Interim CEO
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