Chariot Oil Regulatory News (CHAR)

24 May 2012                                                                                                                  

        Chariot Oil & Gas Limited

(the "Company")

Holding in Company

Chariot Oil & Gas Limited was notified today that, as of 23 May 2012, Baillie Gifford & Co holds a total interest of 24,162,578 ordinary shares in the Company, representing 12.05% of the Company's issued ordinary share capital.

·      Baillie Gifford & Co has an interest in 3,892,304 ordinary shares (1.94%)

·      Baillie Gifford Overseas Limited (a wholly owned subsidiary of Baillie Gifford & Co.) has an interest in 16,284,540 ordinary shares (8.12%)

·      Baillie Gifford & Co Limited (a wholly owned subsidiary of Baillie Gifford & Co.) has an interest in 3,985,734 ordinary shares (1.99%)

- Ends -

For further information please contact:

NOTES TO EDITORS

About Chariot

Chariot Oil & Gas Limited is an independent oil and gas exploration group.  The Group currently holds licences covering eight blocks in Namibia, through its wholly owned subsidiary Enigma Oil & Gas Exploration (Pty) Limited, and one block in Mauritania through its wholly owned subsidiary Chariot Oil & Gas Investments (Mauritania) Ltd., all of which are offshore.  All of these blocks are currently in the exploration phase.

The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.

The contents of the Company's website are not incorporated into, nor do they form part of, this announcement.