Grant of Options

For immediate release 6 September 2010

Chariot Oil & Gas Limited

(the "Company")

Grant of Options

Chariot Oil & Gas Limited announces that on 18 August 2010 Philip Loader, Non-Executive Director, was awarded 250,000 options in the Company at 119p (the 20 day trading average as of close of business on the 18 August 2012 - the date of his appointment) as part of his agreed remuneration package. The options will be exercisable from 18 August 2012 and will expire on 18 August 2020.

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NOTES TO EDITORS

About Chariot

Chariot Oil & Gas Limited (www.chariotoilandgas.com) is an independent oil and gas exploration group. The Group currently holds licences covering eight blocks in Namibia, all of which are offshore. All of these blocks are currently in the exploration phase.

Shares in Chariot Oil & Gas limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.