Chariot Starts Namibia Seismic Work

 Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces that in conjunction with its partners AziNam (20%), NAMCOR (10%) and Ignitus (5%), it has commenced a 3D seismic acquisition survey of approximately 2,600 square km in Blocks 2312 & 2412A (the "Central Blocks") offshore Namibia. The survey is being conducted by PGS Exploration (UK) Limited and will fulfil the work commitment for the Central Blocks.

Following the analysis of its survey of approximately 1,700 line km of 2D seismic data acquired on the north western flank of the licence in 2015, the Company has identified several significant additional leads within the Upper Cretaceous deep water clastic turbidite system. Whilst there are drill ready prospects already identified in the Central Blocks, this 3D survey will enable Chariot and its partners to mature these new leads and further develop its inventory in this region, which it believes to contain giant prospectivity. The survey is expected to take approximately 40 days.