Rialto advances after securing deal with Vitol as partner

Rialto Energy, the dual-listed Australian oil and gas explorer, has secured Vitol E&P as a partner in West Africa.

Rialto Energy, the dual-listed Australian oil and gas explorer, has secured Vitol E&P as a partner in West Africa.

Subject to regulatory and joint venture partner approval, Vitol will acquire a 20% interest in Rialto Energy (Ghana) Limited in exchange for providing a facility to cover Rialto's $7.7m obligations for the drilling of the Starfish-1 exploration well in the Accra Block, Ghana, which is due to spud in June 2013.

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