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Last $0.0010 USD
Change Today 0.00 / 0.00%
Volume 0.0
RLTOF On Other Exchanges
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As of 4:30 PM 03/25/15 All times are local (Market data is delayed by at least 15 minutes).

azonto petroleum ltd (RLTOF) Snapshot

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52 Week High
03/25/15 - $0.0010
52 Week Low
03/25/15 - $0.0010
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Average Volume 10 Days
0.0
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Shares Outstanding
1.2B
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Current Stock Chart for AZONTO PETROLEUM LTD (RLTOF)

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azonto petroleum ltd (RLTOF) Details

Azonto Petroleum Ltd engages in the exploration and production of oil and gas properties in West Africa and internationally. It holds 87% working interest in the CI-202 offshore block covering an area of 707 square kilometers, located to the southeast of Abidjan, Côte d’Ivoire; and 43% interest in the offshore Accra block covering an area of 2,000 square kilometers located in Accra, the Republic of Ghana. The company was formerly known as Rialto Energy Limited and changed its name to Azonto Petroleum Ltd in December 2013. Azonto Petroleum Ltd is based in London, United Kingdom.

azonto petroleum ltd (RLTOF) Top Compensated Officers

Managing Director and Executive Director
Total Annual Compensation: A$342.0K
Technical Director
Total Annual Compensation: A$404.6K
General Counsel
Total Annual Compensation: A$337.8K
Compensation as of Fiscal Year 2014.

azonto petroleum ltd (RLTOF) Key Developments

Rialto Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended May 31, 2015

Rialto announced unaudited earnings results for the second quarter and six months ended May 31, 2015. For the quarter, the company reported total revenues of $67,931,000 against $54,393,000 a year ago. Operating earnings were $6,881,000 against operating loss of $3,677,000 a year ago. Revenues increased primarily due to an increase in securitization revenue and interest income from Rialto Mortgage Finance ("RMF") and the receipt of $4.8 million of advanced distributions with regard to Rialto's carried interests in Rialto Real Estate Fund, LP ("Fund I") and Rialto Real Estate Fund II, LP ("Fund II") in order to cover income tax obligations resulting from allocations of taxable income due to Rialto's carried interests in these funds. This increase was partially offset by a decrease in interest income as a result of a decrease in the portfolio of loans Rialto owns because of loan collections, resolutions and real estate owned ("REO") foreclosures. For the six months, the company reported total revenues of $109,128,000 against $101,348,000 a year ago. Operating earnings were $9,689,000 against operating loss of $173,000 a year ago. Revenues increased primarily due to an increase in securitization revenue and interest income from RMF and the receipt of $11.3 million of advanced distributions with regard to Rialto's carried interests in Fund I and Fund II in order to cover income tax obligations resulting from allocations of taxable income due to Rialto's carried interests in these funds. This increase was partially offset by a decrease in interest income as a result of a decrease in the portfolio of loans Rialto owns because of loan collections, resolutions and REO foreclosures.

Azonto Petroleum Appoints Glenn Whiddon as Non-Executive Director

Azonto Petroleum announced the appointment of Mr. Glenn Whiddon as Non-Executive Director effective 02 June 2015. Mr. Whiddon, formerly a Non-Executive Director and Executive Chairman of the company, stepped down from the Board in March 2012 to pursue other interests. Mr. Whiddon is based in Australia and is a significant shareholder in the company, representing an aggregate 7.3% of the share register. Mr. Whiddon has an extensive background in equity capital markets, banking and corporate advisory, with a specific focus on natural resources. He is currently Director of a number of Australian and international public listed companies in the resources sector. Mr. Whiddon was formerly Executive Chairman, Chief Executive Officer and President of Grove Energy Limited.

Azonto Petroleum Ltd Announces Board Changes

Azonto announced the following Board Changes effective immediately prior to the commencement of the Annual General Meeting of the Company taking place on May 29, 2015. Andrew Bartlett, Non-Executive Chairman since March 2013, has announced his retirement and will be stepping down from the Board to pursue other business interests. Andrew Sinclair, Senior Independent Director of Azonto since March 2014 and Non-Executive Director since December 2012, will be assuming the position of Non-Executive Chairman. Andrew Sinclair who is based in Australia is a senior oil and gas financier and is presently the Founder, Commercial Lead and Investment Committee Member at Giant Capital. Prior to this, Andrew worked for Macquarie Bank for 16 years, where he held positions in the Sydney, Houston and London offices. Andrew will continue as a Member of the Nominations Committee, Remuneration Committee, Technical & Reserves Committee and New Business Committee.

 

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Price/Sales 1.9x
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TEV/Sales NM Not Meaningful
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