Chariot Commences Seismic Gig Offshore Mauritania

Chariot Oil & Gas Limited 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-Geo team AS to carry out a 1,351 square miles (3,500 square kilometers) program in water depths ranging from 98 feet up to 6,562 feet (30 meters up to 2,000 meters). The program 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.

"We are very pleased to be able to commence this seismic operation so soon after acquiring the license. 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," Chariot CEO Paul Welch said.



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