Rialto Energy Appoints Andrew Rose as Interim CFO

The Board of Rialto is pleased to announce the appointment of Mr. Andrew Rose as Interim Chief Financial Officer of the Company, effective 27 August 2013. Mr. Rose has extensive experience in the Oil & Gas industry having been CFO of both private and public E&P companies and prior to that enjoyed a successful career in Investment Banking.

Andrew (aged 56) joins the Company having previously been CFO of AIM listed, MENA focussed, Gulfsands Petroleum. Prior to his role at Gulfsands which he held for four years, Andrew was CFO of LSE listed Burren Energy from 2001 until 2008. During his time at Burren, Andrew was instrumental in the flotation in 2003 (at an implied valuation of around £175 million), the significant growth which included the acquisition of assets in West Africa, through to Burren’s eventual acquisition by Eni for £1.73 billion in 2008.

Prior to joining Burren Energy, Mr. Rose spent over 20 years as an investment banker in London including being Co-Head of Corporate Finance for Emerging Europe, Middle East & Africa at Societe Generale, as well as roles with ING Barings and JP Morgan. Mr. Rose graduated from Cambridge University with a Bachelor of Engineering.

Commenting on this announcement, Rialto's Managing Director, Rob Shepherd said:

"I am very pleased that Andrew has agreed to join us as Interim CFO and look forward to working alongside him. He is a highly experienced and well respected industry CFO with a proven track record. During his successful careers in both industry and investment banking, Andrew has acquired all the necessary expertise to help the new team at Rialto meet its primary objective of delivering value to our shareholders. Rialto has gone through a significant transitional period over the last six months as it looks to rebuild investor confidence and we really pleased that Andrew shares the vision of the newly formed board and management team as we look to create material value within the Company henceforth.”