Australia and London listed Rialto Energy is now drilling a Gazelle P4 development well on the Gazelle field offshore Cote d’Ivoire seeking to further appraise the discovery.

Drilling is being carried out by they Transocean GSF Monitor rig and the well, budgeted a $28 million, is expected to take 45 days to drill, in CI block 202.

Rialto’s managing director Jeff Schrull said: “The well will appraise five additional reservoirs not appraised by the Gazelle-P3 ST1/2 well and will allow the progression of the Gazelle development, with the drilling of the second of four planned development wells.”

Last September a Competent Person’s Report completed prepared by RPS Energy Services on the CI-202 block certified Total Mean Contingent Resources of 50 m bbls of liquids and 396 Bcf of gas, and total mean prospective resources of 511 m bbls of liquids and 1,785 Bcf of gas.

Rialto already has approval for a Gazelle field development plan and an exclusive exploitation agreement covering the Gazelle field, as well as a gas sales memorandum of understanding, which is due to be followed up with a final investment decision, with the Cote d’Ivoire government.