Jeff Schrull, CEO of Rialto Energy, interviewed by Drake Lawhead from the Oil Council.
This interview appeared first in the April 2012 issue of Drillers and Dealers, the magazine of the Oil Council.
DL: Describe what kind of company Rialto Energy is, in a nutshell?
JS:We are an emerging West Africa focused E&P operating company with a strong focus on becoming an established production company by late 2013 / early 2014. Key to our success is developing strong relationships with the host governments and NOC’s, like Petroci in Cote d’Ivoire, who are our partners in the CI-202 block we operate. Rialto is also a company that is very serious about operating safely and in harmony with the environment.
DL: What was the thesis behind your focus on West Africa? How did you come to be working there, and what is it that attracts you to the place from an E&P point of view?
JS: The last few years I was at Chevron I was the New Ventures Manager for the Nigeria-Mid Africa business unit and became aware of the enormous potential in multiple basins in West Africa. My subsequent time at Addax really made me come to appreciate the cultures of different countries and understand how E&P opportunities can be turned into thriving businesses. These businesses are profitable for the company and also benefit the people of the country by providing for local energy needs, creating jobs and helping contribute to economic growth.
DL: By the time this is published, you will have listed on the London AIM market. What is the strategy behind that – what are you hoping it will do for the growth of your business?
JS: Listing on AIM will help diversify our investor base and hopefully generate some potential corporate opportunities that will help Rialto grow and deliver value to our shareholders.
DL: What is on the horizon for you that you are most excited about?
JS: Our current 3 well drilling programme in Block CI-202, the subsequent development of the Gazelle Field and our future exploration drilling in 2012/3. We shot a block-wide 3D survey in December 2011 and as Geophysicist by back-ground I am very excited about the low risk prospects our team are mapping.
DL: What are the main challenges you experience operating offshore Cote D’Ivoire – a country that has experienced significant upheaval in the…
