About ChariotHistory and Corporate Structure

• Guernsey based Company formed to acquire 2 exploration businesses with Namibian licences
• Initial exploration work commences

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• Listed on AIM in May, raised £45million
• Reprocessing produces 1 prospect, 22 leads
• 2D and 3D seismic acquisition programmes commenced across all offshore blocks

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• Petrobras farms into Block 2714A
• Completion of seismic acquisition programmes
• Appointment of CEO, Paul Welch, from Royal Dutch Shell, Hunt Oil & Pioneer Natural Resources
• Progressed additional opportunities

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• Completed acquisition of 3,000 Km of 2D seismic and 4,500 Km sq of 3D
• Dataroom opened in London
• Increase in gross prospective resources, up 62% to 8.5 Bbbls, 7.4Bbbls net to Chariot
• First Renewal Phase approved
• 11 Prospects and 6 Leads identified from 3D datasets
• Further increase of gross prospective resources up 18% to 10.1 Bbbls, 8.2Bbbls net to Chariot
• Independent CPR confirms Chariot’s estimate of gross mean prospective resource volumes

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• Mega Structure identified in Southern blocks attributing 3.1 bbbls to gross mean prospective resources: Up 30% to 13.2 Bbbls, 9.7 Bbbls net to Chariot
• Further 700mbbls of resource potential identified in Northern Blocks - up 36% to 13.9 Bbbls, 10.4 Bbbls net to Chariot
• Raised US$140m (net)
• Further 1.5Bbbls of resource potential identified in Southern blocks - up 11.5% to 15.5Bbbls, 8.9 Bbbls net to Chariot (Post farm-outs)
• BP farms into Block 2714A, PGS farms into Blocks 2312 A&B and Northern halves of 2412 A&B)
• Further 3.9 Bbbls of resource potential identified in Central Blocks - gross mean prospective resources now 20.0 Bbbls, 12.5 Bbbls net to Chariot
• 3D Geostreamer seismic acquisition programme in Central Blocks extended from 2500km² to 3500km and ^2commenced

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• 3500km^{23D seismic acquisition on Central Blocks complete - processing and interpretation underway}
• Drilling rig contract signed for Tapir South Prospect - spud date anticipated for early April 2012

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