19th Jun 2009 16:54
19 June 2009
AIM: CHAR
Chariot Oil & Gas Limited
('Chariot')
Approval of farm-out agreement with Petrobras from Namibian Ministry of Mines and Energy
Chariot, an independent oil and gas exploration group, today announces that its wholly-owned subsidiary, Enigma Oil & Gas Exploration (Pty) Limited, has received full approval from the Ministry of Mines and Energy in Namibia, for its farm-out agreement with Petrobras Oil and Gas BV, a wholly-owned subsidiary of Petroleo Brasileiro S.A. on one of Chariot's exploration blocks, 2714A, offshore southern Namibia, which was announced on 19 May 2009.
James Burgess, CEO of Chariot, commented:
"We are extremely pleased to have received final approval and support from the Minister of Mines and Energy for this project. This confirmation allows us to progress our plans of exploration and potential development of the block."
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For further information please contact: |
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Chariot Oil & Gas Limited |
+44 (0)20 7357 9477 |
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James Burgess, CEO |
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KPMG Corporate Finance (Nominated adviser) |
+44 (0)20 7311 1000 |
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Susan Walker |
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BMO Capital Markets Limited (Broker) |
+44 (0)20 7664 8120 |
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Bill Smith, Adam Janikowski |
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Hogarth Partnership |
+44 (0)20 7357 9477 |
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Julian Walker, Simon Hockridge |
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 ten Blocks in Namibia, eight of which are offshore and two of which are onshore. 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'.
KPMG Corporate Finance, a division of KPMG LLP which is authorized and regulated by the Financial Services Authority for investment business activities, is acting for the Company as nominated advisor in relation to the matters set out in this announcement and is not acting for any other person in relation to these matters. KPMG Corporate Finance will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement.
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