Chariot Taps Seabird, Wavefield for Seismic Program Offshore Namibia

Chariot Oil & Gas Limited has completed its offshore Namibia seismic tendering process and the appointment of Seabird Geophysical AS ("Seabird") and Wavefield Inseis ASA ("Wavefield") as external seismic data providers.

Seabird will begin its 2d survey in October 2008 and, subject to weather patterns, is expected to take approximately one and a half months to acquire the full 3,000km of data over blocks 2312A/B and 2412A/B.

Wavefield will begin its two 3d surveys in November 2008. Subject to weather patterns, Wavefield expects it will take approximately seven weeks to complete a 1,500km2 program in blocks 1811A and B, and approximately fourteen weeks to complete a 3,000km2 program in blocks 2714A and B.

Commenting on developments, Kevin Broger, CEO of Chariot said, "These two very experienced offshore seismic acquisition companies have committed equipment and personnel to a timeline that allows the company to stay on schedule with our strategic development plans, and acquire seismic data in the best weather window period for the South Atlantic. We are delighted to have both companies aboard.

"The competitive tender process was completed on schedule and afforded us a variety of commercial proposals from which to pick. This has provided us an opportunity to recommend shooting a much more comprehensive program than we originally had anticipated."