Holding in Company

For Immediate Release 11 March 2011

Chariot Oil & Gas Limited

(the "Company")

Holding in Company

Chariot Oil & Gas Limited was notified today that, as of 10 March 2011, Citigroup Global Markets UK Equity Limited has an interest in 15,864,550 ordinary shares in the Company, representing 10.94% of the Company's issued ordinary share capital.

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Contacts:

Artemis Secretaries LimitedPO Box 100Sydney Vane HouseAdmiral ParkSt Peter PortGuernsey GY1 3EL

Ambrian Partners Limited (NOMAD) +44 (0)20 7634 4856

Richard Swindells