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Chariot Oil & Gas 3D seismic programme commenced in Block C19 offshore Mauritania

Monday, Nov 19, 2012

Chariot Oil & Gas Limited (AIM: CHAR), the independent Africa focused oil and gas exploration company, is pleased to announce that it has commenced its 3D seismic survey in Block C19 offshore Mauritania, which was acquired in April 2012 (90% working interest and operatorship). The Company has contracted Fugro-Geoteam AS to carry out a 3,500km2 programme in water depths ranging from 30m up to 2,000m. The programme is anticipated to take 90 days to complete.

This 3D seismic survey fulfills Chariot's initial three year work commitment within Block C19 and is intended to identify structural and stratigraphic traps, with the latter in particular offering potential for large trap sizes.Once acquired and processed the survey will be interpreted to define drillable prospects. The Company will report its results after this process has been completed.

Paul Welch, CEO of Chariot, commented:

"We are very pleased to be able to commence this seismic operation so soon after acquiring the licence. This is largely due to the support provided by the Ministries of Environment, Fisheries and Energy and it is this spirit of cooperation that makes Mauritania such a great country in which to conduct our business."

Source: Chariot Oil & Gas Limited

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