Update re placing shares

1st September 2014

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

Update re. Admission of Placing Shares

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, is pleased to announce that further to the announcement on 29 August 2014 regarding the Admission of Placing Shares, the cash payment for the 5,859,604 Placing Shares issued and allotted to Westward Investments Limited, a company which is owned by a discretionary trust of which Adonis Pouroulis is one of a number of beneficiaries, has been received.

NOTES TO EDITORS

About Chariot

Chariot Oil & Gas Limited is an independent oil and gas exploration group. It holds licences covering six blocks in Namibia, one block in Mauritania, three blocks in Morocco and four licences in the Barreirinhas Basin offshore Brazil. All of these blocks are currently in the exploration phase.

The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.