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RIALTO ENERGY LIMITED (RIA)

RIALTO ENERGY LIMITED (RIA)

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General Information
Company Name: Rialto Energy Limited
Stock Code: RIA
Website: www.rialtoenergy.com
GICS Sub-Industry: Oil & Gas Exploration & Production
Market Cap ($M): 195
Equiv. Shares (M): 671

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.290 $ 0.295 $ 0.305 $ 0.290 $ 0.300 2,543,386 $ -0.010  -3.333 %

Company Overview

Business Description:
Rialto Energy Limited (RIA) is an oil and gas exploration and production company with offices in Perth (Australia), London (United Kingdom) and Abidjan (Cote d'Ivoire). Currently, RIA has a portfolio of projects located in Australia and selected West African countries.

Strategy Analysis:
RIA aims to invest in oil and gas exploration and production projects in Australia and internationally. Rialto Energy announced the commencement of drilling of the Gazelle-P3 production well on the CI-202 block. The Company is Operator of the Block with an 85% working interest. The Gazelle-P3 well was spudded on 12 March 2012 using the Transocean GSF Monitor jack-up drilling rig. The well is planned to be drilled to a total depth of approx. 3400 mMDRT (-2926 mTVDSS) and is expected to take around 60-70 days to drill and test. The well is the first of an overall three well drilling programme on CI-202 that is anticipated to take six months to complete, together with testing.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A -8.0 -2.8 -- 0.0 0.0 0.0 --
2010  A -3.4 -7.5 -- 0.0 0.0 0.0 --
2009  A -3.3 -8.0 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
Beach Energy (BPT) $1,381 M -- 0.4697 -0.6552 18.5185 12.6002 36.5449 0.0157 0.0159 0.0169
Oil Search (OSH) $9,053 M 0.6203 -0.3491 0.2151 38.8571 59.7015 49.1329 0.0058 0.0059 0.0063
Rialto Energy (RIA) $201 M -- -- -- -- -- -- 0.0000 -- --
Santos (STO) $11,357 M 0.1340 0.2859 -0.1115 23.4507 18.2375 20.5270 0.0252 0.0252 0.0252
Woodside Petroleum (WPL) $25,632 M 0.1409 0.1682 0.1823 15.1137 12.9372 10.9423 0.0348 0.0379 0.0487

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
RIA -- -- 0.86 -- 966.7
Market 0.80 12.1 1.33 1.35 1.68
Sector 1.05 19.1 1.30 1.11 11.2

Directors
Name Position Start Date
Mr Charles Nieto Executive Director 25 May 2011
Mr Neil Hackett Joint Company Secretary,Non-Executive Director 26 March 2012
Mr Jeffrey Lee Schrull Managing Director 21 July 2010
Mr Bruce Burrows Non-Executive Chairman 09 May 2011
Mr Vance Querio Non-Executive Director 05 November 2010

Management
Name Position
Patrick Garo Chief Financial Officer
Matthew Worner Chief Legal Officer
Matthew Worner Company Secretary
Geert Spanninga Exploration Manager

Substantial Shareholders
Holding Name
32,684,902 (8.72%) JP Morgan Chase & Co and its affiliates
34,018,186 (9.07%) Commonwealth Bank of Australia
30,394,623 (8.11%) BlackRock Investment Management (Australia) Limited (formerly Barclays Global Investors Australia)
31,587,313 (8.42%) Med Alpha S.A.
46,607,053 (12.38%) Glenn Ross Whiddon

Calendar of Events
Date Event
29 April 2013 Report (Quarterly)
29 January 2013 Report (Quarterly)
29 October 2012 Report (Quarterly)
25 October 2012 Report (Annual)
27 July 2012 Report (Quarterly)
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