May. 2012 - Chariot O&G will plug and abandon its Tapir South pre-salt exploration well (1811/5-1) in the Namibe Basin, offshore Namibia. The well reached a total depth of 16,005 feet (4,789 meters) without encountering commercial hydrocarbons. The well encountered 568 feet (173 meters) of net reservoir sand of Cretaceous age, including two zones in excess of 98 feet (30 meters) with average porosities of 24 percent. Carbonate intervals were also penetrated with porosities of up to 18 percent over a net interval of 92 feet (28 meters). Chariot said that detailed analyses will be conducted on the data collected during the drilling of Tapir South and the information will be used to calibrate the firm's existing data set. A resource update of the remaining prospectivity in the block will be provided once this evaluation is complete.

Apr. 2012 - Chariot O&G has commenced exploratory drilling on well 1811/5-1 at its Tapir South prospect offshore Namibia. Drilling operations are being performed by the Maersk Deliverer (UDW semisub). The prospect has a 25 percent chance of success and a mean un-risked prospective resource potential of 604 million barrels of oil.

Mar. 2012 - Chariot Oil and Gas has signed a contract with AP Moller Maersk for a one-well drilling slot using the Maersk Deliverer (UDW semisub) rig offshore Namibia. The operator expects to spud the Tapir South prospect early April. The prospect is part of the Tapir trend and is located in Northern Block 1811A. The well is located 50 miles (80 kilometers) offshore Namibia in 6,915 feet (2,108 meters) of water with a drilling depth of approximately 16,730 feet (5,100 meters). It is expected to take around two months to drill and will be the first well in Chariot's four-to-five well exploration program that is planned to take place in 2012 and 2013.

Nov. 2011 - The Ministry of Mines and Energy has approved Chariot's drilling permit for its Tapir South prospect in Northern License 1811 A&B offshore Namibia. The permit will be further reviewed for a detailed well plan, an environmental impact assessment and an oil spill response plan.

Mar. 2011 - Chariot O&G has provided an update on the farm-out process, as well as drilling plans and further exploration work in its license acreage offshore Namibia. While negotiations are being finalized, Chariot remains committed to drilling its first well in fourth quarter 2011, stated the company, with a second well planned in first quarter 2012. Chariot has signed a contract with Senergy to provide drilling and support services for its planned wells on the Tapir North (Northern License) and Nimrod (Southern License) prospects. Chariot also reports that additional attribute analysis and mapping work has continued on the 3D seismic acquired in the Southern blocks. As a result, the company expects to release a further resource update following the completion of this work in the early part of the second quarter.

Feb. 2011 - Chariot O&G announced a resource increase in its Northern license, offshore Namibia. The company raised its un-risked mean prospective resources by an additional 700 million barrels (from 1.940 to 2.631 billion barrels). This increase, resulting from continued technical work undertaken on the 3D seismic data acquired across these blocks, has led to a significant improvement in the chance of success. In total, Chariot's prospective volume amounts to 13.9 billion bbls. Chariot stated that concurrent to the work which identified the Nimrod prospect, a mega-structure located in Block 2714A with a prospective resource potential of 3.7 billion barrels, it has continued to evaluate a number of other plays across its Northern and Southern license areas. So far, seismic data analysis across blocks 1811 A&B in the northern license areas has identified additional Late Cretaceous/Palaeogene fan systems exhibiting anomalies consistent with hydrocarbon-filled sands. Additionally, this work has further de-risked the Tapir and Tapir N prospects with the chance of success increasing from 14 to 23%. The company will now perform similar work in its Southern licenses.