Company Information for Chariot Oil and Gas Ltd

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AIM; CHAR

Company Statement

Chariot Oil and Gas Limited (AIM: CHAR) is an independent oil and gas exploration company with interests in Namibia.

Chariot has highly prospective licences in Namibia – strategically positioned within the South Atlantic Margins. All of these blocks are in the exploration phase and seismic programmes have been completed across all of Chariot’s eight offshore blocks. Chariot received early stage third party endorsement of Namibia's prospectivity and potential following a farm-out to Petrobras in May 2009.

Operations and Technology

Overview
Key highlights:

Four licences covering eight offshore blocks in Namibia in three geologically distinct basin
Licences of strategic interest:
- In counterpart margin to highly prospective province offshore Brazil and south of prolific basins offshore Angola
Close proximity of oil, natural gas and condensate accumulations with oil seepage slicks indicating a working petroleum system
Renewed West Africa interest
One prospect and 25 leads identified in Chariot's licences areas to date - gross unrisked mean prospective resources of 8.5bbbls
Deep water exploration - underexplored with only 9 exploration wells drilled across the entire Namibian margin to date
Farm-out agreed with Petrobras on one of eight exploration blocks, 2714A, offshore southern Namibia
Further farm-out opportunities are being pursued as Chariot looks to further mitigate risk and expedite exploration and development
Looking to introduce nearer term assets in order to balance risk profile and generate earlier cashflows
Significantly exceeded its Initial Exploration Phase commitments and as a result has been able to extend licence terms on blocks 1811A&B and 2714B

Geographical Spread

Namibia

Board of Directors and Key Management

Directors
Adonis Pouroulis	Non-executive Chairman
Paul Welch	Chief Executive Officer
James Burgess	Commercial Director
Heindrich Ndume	Country Director Namibia
Philip Loader	Non-Executive Director
George F. Canjar	Non-Executive Director
Robert Sinclair	Non-executive Director
Philip Loader	Non-Executive Director

Senior Management
Matthew Taylor	Exploration Director
Julia Kemper	Senior Staff Geophysicist
Martin Richards	Chief Reservoir Engineer
Alex Green	Commercial Manager
Siegfried Baumgartner	Namibia exploration team

Company Address

36 Dover Street
London, United Kingdom W1S 4NH


Email:	chariot[at]buchanan.uk.com
Website:	http://www.chariotoilandgas.com

Additional Address/Key Contact

Registered office:
Chariot Oil & Gas Limited
c/o Artemis Securities Limited
PO Box 100
Sydney Vane House
Admiral Park
St Peter Port
Guernsey GY1 3EL

Enigma office:
Enigma Oil & Gas Exploration (Pty) Limited
13th Floor
Sanlam Centre
Independence Avenue
Windhoek
Namibia
+264 (0) 61 300 470

Capital

Number of shares in issue: 144,330,245

Year End

28 February

Nominated Brokers

Ambrian Partners
Old Change House
128 Queen Victoria Street
London
EC4V 4BJ

RBC Capital Markets

Nominated Advisors

Ambrian Partners
Old Change House
128 Queen Victoria Street
London
EC4V 4BJ

Major Shareholders

Shareholders	%*
Westward	15.8%
Protech Namibia	14.8
Citigroup	13.4
Generali	5.5
Baillie Gifford	5.0
Libra Advisors	3.4

Most Recent Statement

03/09/10 - Board Change
02/09/10 - Appointment of Joint Broker
31/08/10 - Pre Close Update
18/08/10 - Appointment of Non-Executive Director
16/08/10 - Approval to move to First Renewal Phase
30/07/10 - AGM Statement

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