Just found this article before if anyone's interested, there's...

Just found this article before if anyone's interested, there's typo with the MC though, thought I'd leave that in lol

http://www.theaustralian.com.au/business/mining-energy/miners-look-past-ivory-coast-scares/story-e6frg9ex-1226068747249

Miners look past Ivory Coast scares

Robin Bromby
From: The Australian
June 03, 2011 2:59PM


THE Ivory Coast resources scare seems to be over.

The recent (although belated) swearing in of the candidate, who actually won the presidential election, Alassane Outtara, has averted the immediate prospect for civil war. But the country is in worse shape than it was while the tussle for the presidency continued. Outtara says he needs ?20 billion of extra aid and the all important cocoa export trade has been hit by the domestic disruptions.

But resources companies are getting back to business. Australia-based but Toronto-listed La Mancha Resources has already resumed gold mining operations in Ivory Coast and Newcrest Mining?s mine will be back in operation this month.

Rialto Energy today said it had completed its move to secure 85 per cent ownership of the offshore block C1-202 in Ivorian waters. This will clear the way for the company to accelerate its drilling and development operations.

It is a month since the European Union lifted its sanctions on Ivory Coast, which prevented Rialto executives travelling to the country and the company?s ability to progress contacts with its junior partner, the national oil company Petroci (whose formal name is Soci?t? Nationale d'Operations P?troli?res de la C?te d'Ivoire).

Rialto said the delays to the work program have been a source of frustration. The C1-202 block contains five un-appraised oil and gas discoveries as well as what the company describes as ?several high quality exploration projects?.

Rialto?s shares hit 85c in January but slumped to a low of 35c last month. The resolution of the Ivorian crisis has seen a partial rebound, with trading today between 44c and 46c. However, Euroz Securities last week put a target of $1.11 on the shares.

It is heartened by the resolution of the political situation and expects a three-well program to begin in March.

Euroz said Rialto had a suite of assets in West Africa among the best analysts had seen from a mid-cap oil and gas company (its market cap sitting today at $153 billion).

Rialto?s project is located in a busy exploration neighbourhood; up to 10 offshore wells are planned in Ivory Coast over the next 12 months by several large oil companies including Vanco, Anadarko, Tullow, Hess and Afren.