27th May 2009 16:06
27 May 2009
AIM: CHAR
Chariot Oil & Gas Limited
("Chariot")
Update re. Peruvian licences
Chariot Oil & Gas Limited, an independent oil and gas exploration group, today gives an update with regard to the Peruvian exploration licences which were secured by its wholly-owned subsidiary Enigma Oil & Gas Exploration Pty Limited in partnership with Jindal Steel and Power Limited ("JSPL") during the September 2008 bidding round.
As part of a strategic operational review, JSPL has decided to withdraw from these licence applications and, rather than fund 100% of the exploration programme itself, the Board of Chariot has also withdrawn from these blocks, opting instead to concentrate on its existing assets and pursue potential production and exploration opportunities.
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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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Kevin Broger, 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.
Related Shares:
Chariot