FW advises Rialto Energy Limited on its AUS$86.4 million private placement & admission to trading on AIM

April 12, 2012

Fox Williams has advised Rialto Energy Limited (Rialto), an exploration, appraisal and development company, on its AUS$86.4 million private placement and subsequent admission to trading on the AIM market (AIM) of London Stock Exchange plc. The placement included an investment of AUS$19 million from the International Finance Corporation, a member of the World Bank.

Rialto listed on the Australian Securities Exchange (ASX) in July 2006 and, following admission, will be dual listed on both AIM and ASX. Rialto’s market capitalisation on AIM was £173 million.

Rialto’s principal asset is located offshore Côte d’Ivoire, in the West African transform margin, one of the world’s most attractive emerging petroleum regions. Additionally, Rialto holds a working interest in the WA-399-P Licence, situated in the Exmouth Sub-Basin, offshore Western Australia. Rialto has made an application for a working interest in the Accra Block located in the Keta-Benin basin, offshore Ghana (subject to the Ghanaian Ministry of Energy and GNPC, the Ghana state petroleum company, consenting to the assignment of the Accra Block interest from Challenger Minerals Inc. to Rialto).

Jeff Schrull, Rialto Managing Director commented:

“We are delighted with the successful admission to AIM as the directors believe it is the natural step in aligning the Company with its strategy of establishing itself as an operator and explorer of substance in the West African region. Both the AIM and the ASX listings will position the Company well to further develop its assets and to seek other suitable opportunities when required.”

James Channo, Capital Markets Partner at Fox Williams, added:

"Given the current climate for listings we are very pleased to have assisted Rialto with its successful admission to AIM. Its listing on AIM will no doubt serve as a good platform for the Company to further develop its assets and maximise shareholder value. We look forward to continuing to work with Rialto at this exciting stage in its growth."

Admission became effective and trading in the ordinary shares of Rialto commenced at 8am on 12 April 2012 under the AIM identifier “RIA”.

RBC Europe Limited (trading as RCB Capital Markets) is acting as Nominated Advisor and Joint Broker to Rialto and GMP Securities Europe LLP is acting as Joint Broker. Capital Markets partner James Channo led the Fox Williams team, assisted by Sharon O’Donnell and Matthew Giddings (associates in the Capital Markets team) and Rebecca Richardson (a trainee in the Corporate department).


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