2D seismic survey commenced offshore Namibia

19 December 2013

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

2D seismic acquisition programme commenced in Southern Block 2714B offshore Namibia

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company is pleased to announce that it has commenced a 2D seismic survey in Southern Block 2714B offshore Namibia, which was re-awarded to the Company in June 2013 (Chariot 85%, Operator, with NAMCOR and Quiver Oil holding a 10% and 5% carried interest respectively). The Company has contracted Dolphin Geophysical Ltd. ("Dolphin") to carry out a 2,128 km 2D seismic acquisition campaign in water depths ranging from 150m to 1,850m.

Using the Artemis Atlantic, Dolphin will be acquiring broadband 2D seismic data across the block in order to provide further detail on the shallower petroleum system. By combining this with a further 1,500km of legacy 2D data that the Company is currently reprocessing, it will be able to determine specific regions of interest for designing a focused 3D programme in the future.

The survey is anticipated to take 21 days to complete and fulfils Chariot's initial four year work commitment in the licence.

Chariot Oil & Gas Limited is an independent oil and gas exploration group. It holds licences covering eight blocks in Namibia, through its wholly owned subsidiary Enigma Oil & Gas Exploration (Pty) Limited, one block in Mauritania through its wholly owned subsidiary Chariot Oil & Gas Investments (Mauritania) Limited and three blocks in Morocco through its wholly owned subsidiary Chariot Oil & Gas Investments (Morocco) Limited all of which are offshore. The Group's wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda, holds four licences in the shallow water offshore Brazil. All of these blocks are currently in the exploration phase.

The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.