Appointment of Non-Executive Director

1 September 2011

Chariot Oil & Gas Limited

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

Appointment of Non-Executive Director

Chariot Oil & Gas Limited (AIM: CHAR) is pleased to announce the appointment of Mr. Larry Bottomley as Non-Executive Director with immediate effect.

Larry Anthony Bottomley (53) has worked in the oil and gas industry for over 30 years and has a significant track record of building exploration and production businesses on the international stage, delivering transformational growth and shareholder value. During his career, Larry has worked across a broad spectrum of exploratory and business development roles worldwide and has a strong background in integrated geosciences, team management and relationship building. A key aspect of his work has been in the creation and delivery of work programmes that in turn have led to the discovery and development of giant oil fields.

Larry is currently Vice President of Exploration with Perenco SA where he established exploration as a fundamental part of that company's growth programme by developing an exploration strategy, building a team and instituting technical standards to identify, access and prepare a sustainable and successful drilling portfolio. Through executing this strategy Perenco entered Brazil, Iraq, Australia and Belize and re-built its exploration portfolio in Gabon, Turkey and Cameroon. In this role, Larry created a four year, 45 well drilling inventory, implemented risk management procedures and oversaw exploration operations in 12 countries.

Larry started his career as a Geophysicist working for Scott Pickford and Associates Ltd, Getty Oil (UK) Ltd and Ultramar Exploration Company (UK) Ltd. In 1986 he joined BP as a Geophysicist, where over the next eight years he worked in a number of roles, becoming Project Leader of the Mars Play Fairway in deepwater Gulf of Mexico in 1992. Here, he rebuilt BP's exploration model developing a programme which led to a number of discoveries including Danger Horse. During his tenure at BP, he also acquired acreage and was involved in giant discoveries in Colombia.

Following his time at BP, Larry worked with Triton Energy Limited as Exploration Manager of Europe, Africa and the Middle East (from 1994 to 1997) and was subsequently Vice President of the Technical Division (from 1997 to 1998) and was instrumental in the Ceiba discovery in Equatorial Guinea. He then went onto manage the world-wide exploration portfolio of British-Borneo plc which was subsequently sold to ENI, before joining Hunt Oil plc in 2000. At Hunt Oil, Larry held the position of Vice President of International Exploration and then Business Development. Here he redirected the frontier exploration strategy of the company, focusing on basins with giant potential and world class source systems, and implementing a technically driven new venture and business development process. This resulted in Hunt developing a new portfolio of investment opportunities which included acquiring deepwater acreage offshore Namibia.

Larry has an MSc. in Stratigraphy from Birkbeck College, University of London and a BSc. in Geology from Imperial College, University of London. He is an Associate of the Royal School of Mines, a Fellow of the Geological Society, a Member of the American Association of Petroleum Geology and a Member of the Petroleum Exploration Society of Great Britain.

Paul Welch, CEO commented: 'It is with great pleasure that we welcome Larry to the Board of Chariot. It was with him that Julia Kemper, Matthew Taylor and I were first introduced to Namibia whilst working at Hunt Oil together. Not only will his international experience in frontier exploration and development be invaluable to the Company but his breadth of knowledge and understanding of our acreage in Namibia is a further notable addition to the team.'

Additional Information

The information detailed below is disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules. Except for the information disclosed in this announcement, there is no other information which falls to be disclosed under these rules.

NOTES TO EDITORS

About Chariot

Chariot Oil & Gas Limited (www.chariotoilandgas.com) is an independent oil and gas exploration group. The Group currently holds licences covering eight blocks in Namibia, all of which are offshore. All of these blocks are currently in the exploration phase.

Shares in Chariot Oil & Gas limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.