Chariot paves way for Namibia wells

Offshore staff

LONDON -- Chariot Oil & Gas aims to start drilling off Namibia late this year.

The company has contracted Senergy (GB) to provide drilling and support services for planned wells on the Tapir North (Northern License) and Nimrod (Southern License) prospects.

As part of this process, Chariot management and a team from Senergy recently visited Namibia to meet with government officials and local contractors. The first well will likely be drilled during 4Q 2011, and the second early next year.

Additional attribute analysis and mapping continues on the 3D seismic the company acquired over its southern blocks. This work should be completed shortly.

Chariot is continuing negotiations with potential farm-in partners on several of its blocks. Negotiations in certain instances are at an advanced stage.

03/31/2011



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