Holding in Company

Immediate release 3 May 2011

Chariot Oil & Gas Limited

(the "Company")

Holding in Company

Chariot Oil & Gas Limited was notified on the 28 April by Credit Suisse Group AG that, as of 26 April 2011, Credit Suisse Securities (Europe) Ltd and Credit Suisse AG held an interest in 9,208,091 ordinary shares in the Company, representing 5.09% of the Company's issued ordinary share capital.

- Ends -

Contacts:

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

Ambrian Partners Limited (NOMAD)

Richard Swindells   +44 (0)20 7634 4856

Matt Einhorn +44 (0)20 7634 4860