Rialto hits oil and gas in Gazelle sidetrack

Offshore_Rialto_EnergyThe Gazelle P3 well in Block CI 202 offshore Côte d'Ivoire has shown signs of oil and gas. (Image source: Rialto Energy)Rialto Energy has recovered oil and gas samples from a sidetrack of its Gazelle P3 well in Block CI 202 offshore Côte d'Ivoire

The Australia-listed company obtained oil and gas samples from Upper Cenomanian sands and said it would use the discoveries to assist it in the design of the field development processing facilities after the sidetrack was drilled to a total depth of 2,959 metres.

Rialto chief operating officer Charlie Nieto said, “The overall objective of the Gazelle-P3 well was to suspend it as a producer. Based on the encouraging results of the sidetrack we will commence testing operations – an important step in achieving this outcome.

“Having resolved the significant challenges encountered with drilling to date, Rialto remains on track to deliver the Gazelle Development.”

The Gazelle field lies on Block CI-202, 30km off the coast of Abidjan and, along with the nearby Hippo and Bubale discoveries, has been estimated to hold mean contingent resources of 50 million barrels of liquids and 396 billion cubic feet of gas.

“Through this well and subsequent sidetrack, we have obtained significant new geological information to improve our understanding of the CI-202 block and progress the development of the Gazelle field,” remarked Nieto.

Rialto has targeting a final investment decision on the Gazelle field development by September 2012, with start-up anticipated towards the end of 2013 or in early 2014, with an initial output of 100 million cubic feet of gas per day and a predicted 8,000 barrels per day of liquids.

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