Holding in Company

Immediate Release 05 April 2011

Chariot Oil & Gas Limited

(the "Company")

Holding in Company

Chariot Oil & Gas Limited was notified on 04 April 2011 that, as of 01 April 2011, Citigroup Global Markets UK Equity Limited has an interest in 21,116,240 ordinary shares in the Company, representing 14.56 % of the Company's issued ordinary share capital. This notification was received prior to the 35,958,376 new ordinary shares which were admitted to AIM today further to the recent Placing and Chariot anticipates receiving an updated notification in this regard in due course.

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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