Holding(s) in Company

17 May 2011

Chariot Oil & Gas Limited

(the "Company")

Holding in Company

Chariot Oil & Gas Limited was notified today that, as of 16 May 2011, Citigroup Global Markets UK Equity Limited has an interest in 21,698,857 ordinary shares in the Company, representing 11.99% 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