About Chariot

Highlights:

An oil and gas exploration company with highly prospective opportunities offshore Namibia.
Namibia - underexplored frontier region - high impact exploration
Geology analogous to proven South Atlantic margin plays (opposite margin to Brazil and south of Angola)
Oil seepage slicks from RadarSat imagery indicate working petroleum system
Farm-out agreed with Petrobras for a 50% interest on one of the Group's southern offshore licences
- Strengthened cash position
- Highly experienced partner in deep water exploration and development
- Third party endorsement of Namibia's prospectivity and potential
Very large oil targets - maturing prospect and lead inventory - gross mean prospective resources of 8.5 billion barrels of oil
Further farm-out opportunities will be pursued as Chariot looks to further mitigate risk and expedite exploration and development
Dataroom opened in London in February 2010
Multiple expressions of interest on reviewing processed 3D seismic data complete
Looking for further exploration and production opportunities in order to continue to balance the portfolio

GBp 66.50

+7.00p (11.81%)

17:28 12/03/2010

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