The Board of Rialto has appointed Mr. Robert James Shepherd as Interim CEO of the Company, effective Monday, 26 November 2012. Mr. Shepherd has over 20 years of experience in the Oil & Gas industry and brings a wealth of skills to the Company.

Rialto also announces that Mr. Jeff Schrull, who last month notified the Board of his intention to resign as Managing Director in order to relocate to Perth in mid-2013, will step down from this position at the end of the Company's Annual General Meeting to be held today in Perth. Mr Schrull will continue his employment with Rialto whilst the Company progresses a number of key initiatives, including the identification of an industry partner for the 2013 CI-202 exploration and appraisal drilling programme. Further, Mr. Schrull will also resign as a director once the Company finalises the appointment of a further Australian resident director.

Rob Shepherd (aged 45) joins the Company having previously been Finance Director of AIM Listed, African focussed, Dominion Petroleum, which was acquired by Ophir Energy for around US$220 million in February 2012.

Tags: Rialto Energy