Rialto Energy Limited, the exploration, appraisal and development company with operated assets offshore Cote D’Ivoire, is pleased to advise that the Transocean GSF Monitor drilling rig has today been released to Rialto. The rig will now be towed from Nigeria to Cote d'Ivoire and is scheduled to arrive on location in Block CI-202 before the end of February 2012.
The Company anticipates that, subject to successful rig jack-up procedures, the spud of the Gazelle-P3 well and commencement of drilling operations is expected before mid March 2012. The Gazelle-P3 well will be the first of Rialto’s scheduled three well drilling programme for Block CI-202 using the GSF Monitor jack up drilling rig. Gazelle-P3 is expected to take around 60-70 days to drill and test, with the overall three well drilling program anticipated to take approximately six months to complete, together with testing. Further details of the drilling program and schedule will be provided when the rig arrives on site.
Commenting on this operations update, Jeff Schrull, Managing Director, said:
“We are pleased to have the rig under contract and are in the final stages of preparation for the drilling of the Gazelle P3 well. We have been awaiting the rig arrival for some time and we are excited to be starting our drilling programme in Block CI-202 along with our partner Petroci”.