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Real-Time news about Rialto Eng (London Stock Exchange): 0 recent articles
|treacle32: Still need proper broker write-up and on reserves too. Nonetheless found these today on the ASX perspective....
Rialto Energy Ltd RIA:ASX
As of Nov 23, 2013, the consensus forecast amongst 3 polled investment analysts covering Rialto Energy Limited advises that the company will outperform the market.
Share price forecast
The 3 analysts offering 12 month price targets for Rialto Energy Limited have a median target of 13.00, with a high estimate of 25.00 and a low estimate of 6.00. The median estimate represents a 242.11% increase from the last price of 3.80.
|minho: WHY are directors buying in such large quantities ? Not to spike the share price up for the moment,that is for sure on this one. SO why ? The licence areas are prolific and VITOL are in with Rialto for good reason. When the gas flows to the plant ashore ---- BINGO ---- PROFIT. PLUS the oil to come as well. BUT there is some thing else ? VITOL could be in mind to BUY OUT RIALTO ? RIGHT?. Not now but in the future,when the share price is higher, at production time of GAS flowing to plant etc. The licence in this area is worth a BOMB. When the oil flows---- BINGO---- MORE---- profit. More to follow later.|
|nesty1760: Recently there has been some big gains in certain shares recently TLDH, MARL, GGP MEN, etc. All 25% in a day. It reminds me of 2009 again when if you in the right share big gains to be had.
Though what happens nobody starts thinking long anymore.
Into a share, wait a week if it doesn't move or the news isn't fully expected (even though it might be good). Then sell up and chase the next riser.
To a extent it has happened here. All looks good for the medium to long; a lot of good news to be expected and changes to drive the share price forward.
Though, TBH I feel a lot of people where in here for short term, expecting say 5p by the end of November. Now doesn't look like that will happen & other news such as broker target, or the Vitol deal wasn't as they thought as slightly ambiguous to the word loan; they sell and move on to chase the next riser, thus dragging down the RIA price.
I think to fully review what is happening with RIA you have to assess at the end of the year. By then I feel the share price will be higher and then people be wishing they held and purchased more at these low prices.
Though each to their own. A lot of large money has been placed in here and they must see some worth as do many pi's.
|minho: NOW come on Treacle you know we all rely on you for fast up to date imfo on RIA. There have been excellent posts on this thread which are related to the facts of this company. RIA was on its knees, we all know that. Nothing much has changed yet apart from the share price going up. Now the deal has been done with VITOL etc we can expect some positive news to come . Vitol are vital to RIA going forward, we all know that also. RIA has its back up against the wall , so VITOL will use that to their advantage, as all of us that are in business will know. We dont need to know about trades, just the facts please, young man.|
|treacle32: October 09, 2013
Conference Report 2: Rialto Energy Delivers Bracing Account Of Recent Challenges As It Looks To The Future While Petroceltic International Discusses Sonatrach's Pre-emption In Algeria And The Opportunities Across Its Expanded Portfolio
By Amy McLellan
Oilbarrel.com's 61st conference was our first event to be held on a Monday and it seemed the early start to the week didn't deter delegates, with the event one of the busiest of the year to date. After the coffee break, numbers rose as more delegates arrived to be sure to see the much-anticipated presentation from Tom Hickey, CFO of Petroceltic International, a favourite with oilbarrel.com regulars. There was an audible buzz when it became clear the Petroceltic team, flying in from Dublin, had been delayed and Rob Shepherd, new CEO of Rialto Energy, filled the spot while Hickey dashed across London.
Shepherd had an unenviable task: a packed conference room full of knowledgeable investors and a stock that has, in his words, been a "dog's breakfast" since its 2012 debut on AIM. "I know you've come to see Tom and won't be offended if you leave, especially if you've followed the company over the last 18 months," said Shepherd, who was persuaded to join Rialto as interim CEO following his stint as CFO at Dominion Petroleum.
Dominion, of course, was sold to London-listed Ophir Energy in October 2011, a decision driven by the funding challenges facing junior explorers although Shepherd said the test of that decision will come when Ophir next year drills the four prospects on Block 7 offshore Tanzania a deepwater project that was beyond the scope of Dominion's financing capabilities but could have proved transformational. As Shepherd points out, wildcatting is a high risk gamble as evidenced by Rialto's participation in the disappointing Starfish well offshore Ghana earlier this year.
This was always a long shot and explorers will always drill more dry holes than they do discoveries. The problem at Rialto, which is dual listed on the ASX, has been that its supposedly low risk development wells on Block CI-202 offshore Cote d'Ivoire also proved disappointing.
"One of the things I liked about Rialto was that it was more a development portfolio," said Shepherd. Yet as Rialto investors will be only too aware, the development in question, the Gazelle gas field, swiftly ran into problems, leading to the collapse of the share price and a massive funding gap. As Shepherd says, it's hard to argue with the analysis that Rialto had a "bad strategy, poorly executed". The former Dominion and Shell executive got involved in October 2012, a decision he describes as "naive". "I wasn't looking for a small illiquid company with issues."
Since Shepherd's arrival at the troubled small cap, there has been a clear sweep at the top, G&A has been slashed, the dual listing is being reviewed, Vitol has been introduced as partner, A$14 million raised over the summer with the backing of key shareholders, and the company has dealt with the painful issue of the overhanging rig contract, which led to a US$11 million termination fee for a rig that did nothing. "From a glass half full perspective, it saved us US$6 million on the minimum contract value," said Shepherd, but it was clear to delegates this had been a bitter draught to drink.
Shepherd said he only felt brave enough to present at oilbarrel.com after last month's MoU that paves the way for the renegotiation of the PSC for Block CI-202 and the conclusion of the critical Vitol farm-out. Shepherd was full of praise for the Cote d'Ivoire authorities, who had previously expected Gazelle to be onstream by now, for the "extremely constructive" discussions that will allow this potentially strategic gas monetisation project to move forward.
This is still a company in the very early stages of recovery and Shepherd said the proof of his success will be the delivery of the new PSC and the Gazelle development. The company is taking a conservative approach, going for a low cost, phased development targeting the initial development of 40 BCF of 1P reserves and 80 BCF of 2P reserves. It will take 14-18 months from the final investment decision to reach first gas, which it is targeting for mid-2015 at a development cost of US$120-130 million. Although gas pricing is confidential, Shepherd said the sales contract would deliver a 15 per cent IRR on a P90 conservative case and would be "well north of US$1 per MCF": he pointed out that an existing gas producer in Cote d'Ivoire gets US$5 per MCF.
He also highlighted that Gazelle is only the beginning: "Vitol hasn't come in for a 40 BCF development". There are existing discoveries and shut-in fields on the block as well as other contingent resources in the immediate vicinity plus some exciting exploration upside but that's for the future. "With the restructuring of the PSC we will have three years to drill our first exploration well compared to five months to drill two, which was the situation when I joined the company," he noted.
This was an honest and bracing account of Rialto's recent history and the steps taken to put the small cap into turnaround. There was warm applause after Shepherd's performance and it's fair to say delegates will be keen to see his return to oilbarrel.com developments.
|gwr7: With you there Treacle. Last time RFC Ambrian wrote about Rialto they were very sweet on the company, singling them out from all the sub-Sahara plays in their coverage. Fortunes declined since then of course due to former bad management but share price declined even further due to fear of the sky falling down. New CEO and Chairman joined after the bad decisions had been made. They got rid of all those responsible and although they had very hard decisions to make the fact is they had the balls to make them and backed their judgement with their own cash at a premium to the share price which had declined further due to those tough decisions. I make no recommendations and investing in a small oiler that has been in the gutter, before the crowd, needs a pair of swingers but I'm very happy with the job the new team is doing.|
|ertugrul: KeywordCompanyEPIC/TIDMSEDOL/ISINNewsPriceAnnouncementsFundamentalsNewsArticleRSSRialto Energy Ltd (RIA)Add to Alerts list Print Mail a friendWednesday 07 August, 2013Rialto Energy LtdResults of 2013 General MeetingRNS Number : 1515LRialto Energy Limited07 August 2013 7 August 2013ASX Code and AIM Code: RIA Rialto Energy Ltd("Rialto" or the "Company") Results of 2013 General Meeting Further to the announcement of 25 June 2013 regarding the placing of A$14.1 million to institutional and other investors, Rialto is pleased to announce that all resolutions proposed to shareholders at today's EGM were duly passed. Following approval by the Company's shareholders it is expected that the 369,115,611 shares placed conditional on shareholder approval at a price of A$0.03 (c.1.8p) per share will be admitted to trading on the Australian Securities Exchange and the AIM market of the London Stock Exchange on or around 9 August 2013. As set out in the announcement of 25 June 2013, existing Directors of Rialto have subscribed for 9,666,667 shares on the same terms and conditions as the placement. The funds raised will allow Rialto to continue its negotiations with the Government of Côte d'Ivoire, in conjunction with Vitol, regarding the proposed change of terms to the PSC. They will also provide Rialto with sufficient working capital to meet its short term obligations. Rob Shepherd, Managing Director of Rialto commented: "I would like to thank those existing shareholders who supported this Placing and to extend a welcome to our new institutional shareholders. We are extremely pleased to have raised these funds in difficult market conditions and look forward to updating the market with our continued progress in the weeks to come." As the Company's share price is currently below the Share Purchase Plan (SPP) offer price of 3 cents, the Board of Directors have exercised their discretion to cancel the SPP. Further the capacity to issue SPP shortfall shares under Resolution 14 is rendered void. Rialto's directors wish to thank all the shareholders who showed their support by taking up their entitlements. The Company will refund all application monies received to subscribers (without interest) as soon as possible. In accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act, we advise details of the resolutions and the proxies received in respect of each resolution are set out in the proxy summary below: RIALTO ENERGY LIMITEDProxy SummaryAGM|
|swizz: A fair summary from AspiringGeo..........GL S
July, 10 2013 by Aspiringgeo
I'm a big fan of West African offshore plays and so it was certainly disappointing news to hear about the Starfish-1 well today with it subsequently failing to encounter any moveable hydrocarbons. More so for Rialto Energy's shareholders as the stock saw a massive tumble of over 40% (down over 90% since the beginning of the year) but was it over done? Well based on Rialto's RNS it certainly seemed doom and gloom, P&A, no moveable hydrocarbons, look at data again, end of - very odd for a company that looks like it needs cash.
Now the operator of the well, Ophir, was slightly more upbeat about the results and said the following:
'Wireline logging has confirmed the presence of a gross c. 230m sandstone interval in the primary (Lower Cretaceous) target interval although logs show these to be water wet. The secondary target ("Orca") contained poorly developed sands which were also water-bearing.'
Now considering this is almost virgin territory its always good to see a large reservoir interval (c. 230m gross) was encountered exactly where it was expected - which is a big tick along the track to further exploration and it will go a long way in any geological model - it's all about locating a place where all three major components - source, reservoir and seal - exist! Tie the current information in to the 3D seismic and you can map the reservoir to its full extent!
I think Rialto's market cap is around £8 million at the moment, although I still can't get my heard around this recent share placing/offering and it's possible effects/shares in issue or even if it's still going ahead! it must be quite annoying for current subscribers who could've gotten in 2-3 times cheaper today!
I do have a feeling that once the dust settles and a clearer path of funding (or lack of) is visible I think it could be a good move to open a small position after following any share price weakness in the coming months - with the hopes of further farm outs/down coming Rialtos way...
So while Starfish-1 was unsuccessful it certainly doesnt detract from any further wells and if anything it will strengthen the geological model and alongside the Cote d'Ivoire assets, which still look very strong with discoveries already within the block, contiguous/analogous prospects mapped out and combined, surprisingly, with its high equity stake - I would certainly keep an eye on Rialto and capitalise on any share price weakness in the coming months!
|ertugrul: Someone posted this on lse... very interestingStena drillmax ship is on its way to Accra field atm. Drilling start this week. There is also some speculations that Vitol might take renaming stake of Ria licences which will result a full take-over. that will be a big boost to ria share price.|
|illuminati1: Thanks to sheepskin Hotcopper I rang the PR machine in Perth last week and asked why Rob Shepherd hasn't bought any shares as yet? Apparently, the view I got from my conversation was that there's a lot happening at present with RIA. As a result, Rob Shepherd was not in a position to buy in. I also relayed concerns that funding issues were a major drag on the share price. Lack of news on the farmout front is also hurting the share price.I'm wondering why RIA hasn't looked at selling its WA interest as yet? It might be worth $5 million or so?RIA has been reluctant thus far to opt for a CR...Makes me think that RIA might be somewhat confident of obtaining a good farmout deal. I reckon even a good partial farmout deal might be good news for the share price.I will use any opportunity to take up a new issue at lower prices (my thoughts only), but a placement might also be an option. There's not too many companies around at a similar market cap with so much (potentially) high impact drilling taking place in 2013. Rob Shepherd is a very experienced CEO and he would not have stepped permanently into this postion if he didn't like what he sees in RIA. RIA is a high risk, high reward play. If they strike it rich in one well this year, RIA might well be worth many times its current price.|
Rialto Eng share price data is direct from the London Stock Exchange