Social Responsibility Overview

Chariot supports the growing awareness of social, environmental and ethical matters when considering business practices. These statements provide an outline of the policies in place that guide the Company and its employees when dealing with social, environmental and ethical matters in the workplace.

Code of Conduct

Chariot maintains and requires the highest ethical standards in carrying out its business activities in regard to dealing with gifts, hospitality, corruption, fraud, the use of inside information and whistle-blowing.

Chariot maintains a zero tolerance policy towards bribery.

Equal Opportunity and Diversity

Chariot promotes and supports the rights and opportunities of all people to seek, obtain and hold employment without discrimination.

It is our policy to make every effort to provide a working environment free from bullying, harassment, intimidation and discrimination on the basis of disability, nationality, race, sex, sexual orientation, religion or belief.

Employee Welfare

Chariot aims to assist employees at all levels to improve their professional abilities and to develop their skills.

The Company will practice manpower and succession planning in regard to the number and type of personnel resources that will be required in the future. Individual career progression activities are developed with this in mind.

Joint Venture Partners, Contractors and Suppliers

Chariot is committed to being honest and fair in all its dealings with partners, contractors and suppliers. The Company has a policy to provide clarity and protection, within its terms of business, to ensure the delivery and receipt of products and services at agreed standards.

Procedures are in place to ensure that any form of bribery or improper behaviour is prevented from being conducted on Chariot’s behalf by joint venture partners, contractors and suppliers. Chariot also closely guards information entrusted to it by joint venture partners, contractors and suppliers, and seeks to ensure that it is never used improperly.

Operating Responsibility and Continous Improvement

Chariot adopts an environmental policy which sets standards that meet or exceed industry guidelines and host government regulations. This is reviewed on a regular basis. Wherever we operate we will develop, implement and maintain management systems for sustainable development that will strive for continual improvement.

Prior to any seismic acquisition programmes and in preparation for the drilling of an exploratory well, Chariot employs environmental consultants to carry out area specific Environmental Impact Assessments (“EIAs”) which are subsequently approved by the Namibian Ministry of Mines and Energy in accordance with other relevant ministries, for example, the Ministry of Fisheries and Marine Resources and the Ministry of Environment and Tourism.

Chariot intends to carry out all necessary requirements to ensure that the environment in and around its areas of interest are maintained to the highest standard.

As part of the environmental assessment, during the time of seismic acquisition, Chariot employed marine mammal observers to travel onboard the seismic vessels. These observers were able to compile marine mammal and bird count statistics which will assist in the preparation of future EIAs.

With regards to preparation for the drilling of an exploratory well, an environmental management plan has been devised and will be implemented from preparatory stage to well completion.

Whilst drilling is underway, an oil spill response and emergency response plan will be put in place. Going forward, an environmental management system will be developed to co-ordinate and monitor environmental activities and report the performance over the lifetime of the field from discovery to development, through to abandonment.

Social impacts will also form part of these assessments and preliminary work in this area will consider the local communities and the local economic effects on a progressive and permanent level in the event that Namibia becomes a petroleum province. It is Chariot’s aim to ensure that all the likely environmental and socioeconomic impacts will be managed with skill, care and diligence in accordance with professional standards.

Chariot is committed to maintaining and regularly reviewing its Health and Safety and Environmental Policies.