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Presentation : http://www.chariotoilandgas.com/uploads/website-chariotcorporatepresentationgs21.07.2011.pdf

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P's latest ramp target.

down 15% but still some way to catch PDX which is down 25%

Should have waited a day, but........... the price I got is still good, come back in a month and all will be fine.

This is a manipulated down on the worlds markets, to make QE3 an easy pill for people to swallow.

Get everything down and then enjoy a slow and steady rise upwards again.

What QE3 will mean is that oil will be 150 US$ in 2012.

From 142p at the time of the ramp to 93p low of the day, that is not too bad for 2 days ONLY down by 34.50%, there is allways a consolation other shares have fallen further and the price now is 104p

If anything one has to learn is " keep the TIPS to yourself " now is not Crhistmas

Coming back nice and strong now - 120's and moving upwards.

Will be back to my buy in price next week. Will teach me to jump in too early.

Got more AEX and FOGL this morning/yesterday - glad I did, both in profit.

Got some BOR today as well, thats cheap under 50p.

Worth a read :

http://www.cnbc.com/id/44038676

Market Indicator with Perfect Record Just Signaled 'Buy'

Published: Friday, 5 Aug 2011

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http://www.moneyweb.com/mw/view/mw/en/page295022?oid=318194&sn=2009+Detail&pid=287226

05 August 2011 05:24 Namibia to follow in Ghanas oil slipstream

A major oil find in Namibia is set to propel that economy into a new league.

Last year saw Ghana begin to pump oil from its Jubilee oil field, a development that is set to transform its economy, which is forecast to be Africa's fastest growing in 2011.

This year, a major oil find in Namibia is set to propel that economy into a new league. Global Energy Magazine last month reported that following years of intensive data acquisition and analysis, oil and gas exploration in Namibia has hit the jackpot with an estimated 11bn barrels equivalent having been discovered off the nation's coast.

According to Isak Katali, Namibia's Minister of Mines and Energy, the country must now prepare itself for rigorous drilling activities with operations starting as early as November this year. Katali said that Enigma Oil & Gas, owned by London-listed Chariot Oil & Gas, has identified 11 prospects along the southern coast. "The largest of these, the Nimrod Prospect in 350 metres (1,150 feet) depth, and most likely reserves in the event of success are estimated to be greater than 4bn barrels," he told parliament. "Enigma expects to find oil rather than gas," Katali said, adding that first production could begin as early as 2015. Enigma holds 50% equity in the offshore Southern Block together with Brazil's Petrobras.

Brazilian company, HRT Oil & Gas Ltd, has raised USD 1.3bn on the Brazilian stock market, with USD 300m earmarked for oil and gas exploration in Namibia. "To date, the company has conducted step by step critical geological and geophysical studies, allowing them to demonstrate the existence of at least two active petroleum systems which can generate and favour the trapping of liquid hydrocarbons in commercial quantities. This finding could turn offshore Namibia into a great producer of oil and gas in a short time. We expect that six to eight wells to be drilled in Namibia's waters in the next 18 months, the highest number in Namibia's exploration history," Katali added. To date, Namibia's largest source of natural gas is the Kudu gas field located approximately 170 kilometres north-west from the city of Oranjemund. It is located in the Orange Sub-basin in 170 metres of water.

Paul Welch, CEO of Chariot Oil & Gas, reckons that any significant oil discovery will have a "dramatic impact" on Namibia's economy. The country is expected to benefit tremendously from royalties and taxes paid by oil companies as well as the employment opportunities that will be created. He compares Namibia's current situation with that of Brazil around a decade ago. "You can think of Namibia today . . . to something similar to what you would have seen in Brazil say ten years ago, where you had some small inklings of potential, but people needed to go out and drill some wells before they could prove it. [Brazil] has gone from essentially an importing country, to an exporting country with regard to crude oil products. "The difference between Namibia and Brazil is that there are only 2.1m people in Namibia, so every barrel discovered in Namibia is going to make a tremendous difference." Namibia could well be SSA's "next big thing.

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2 bits of farm out news today, one with BP and the other with PGS :


BP = http://www.investegate.co.uk/Article.aspx?id=201108080700088903L

PGS = http://www.investegate.co.uk/Article.aspx?id=201108080700088868L


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So with BP paying for the first well on that block, and also paying for back costs, and wtih PGS paying for a large lump of the seismic work on the other block then CHAR have just saved a lot of their cash.

Meaning any dilution for fund raising (further) is some way away now.

More news on farm outs to come and drilling to start in not too many months time.

From Northland Capital Partners Ltd

OIL & GAS: CHARIOT OIL AND GAS (CHAR.L); 124P/224 NO REC

UPDATE FROM MANAGEMENT FOLLOWING BP FARM-OUT

n We have spoken to management following yesterdays announcement that BP will conditionally acquire a 50% share of Chariot's equity interest in Southern Block 2714A (Licence 20), of which Petrobras has a 50% stake, leaving Chariot with a net 25%.

n The Southern well is likely to cost in the region of $60m, so the company has effectively offset $30m of exposure and gained around $20m in back costs a strong deal.

n There is potentially further news to come on the Northern block where drilling is planned for this November (est. cost $65m), though this is dependent on rig options with two working and one new build under consideration.

n The company has the funds to go it alone so is not beholden on a farm out but remains in active discussions so it will be interesting to see developments.

n A farm out is likely to be similar to the BP deal, although of course Chariot would farm down from a 100% stake, so it would more likely result in a 50/50 JV, with potentially a free carry over one well.



Northland UK view: The BP farm-out looks a very strong deal offsetting a significant capital exposure and maintaining a healthy interest in the Southern blocks. Having spoken to management, it is encouraging that the company will press ahead regardless of whether or not a further farm-out on the Northern block is achieved. As stated the BP farm out will release funds for further exploration so the company is in a strong position to go it alone on the Northern blocks if necessary, which also means that a farm out, if secured, is likely to be on favourable terms.

Chariot finally does the deal
Created: 9 August 2011Written by: Martin Li
What's new:

■ BP farms in to the southern block

■ Petroleum Geo Services farms into the central blocks

■ On target to drill this year

Chariot Oil & Gas has revealed BP as its long-awaited second major partner for its huge exploration prospects offshore of Namibia. BP will earn 50 per cent of Chariot's equity in the southern block - currently shared on a fifty-fifty basis with Petrobras - in return for paying Chariot's past costs and share of costs of drilling a first well.

The news was keenly awaited and positively received by sector analysts, who see BP's interest as adding further endorsement to acreage that already boasts Petrobras as a partner. Petrobras will retain its 50 per cent interest and assumes operatorship.

Following the deal, Chariot will be in partnership with two of the world's foremost deepwater exploration experts. Furthermore, BP should be as keen as Chariot to advance the project, which could see the massive Nimrod prospect, estimated at 4.5bn barrels, drilled by the first half of 2012.

UBS says...

Buy. BP has farmed into Chariots southern block containing the 4.5bn-barrel Nimrod prospect. This confirmation of the potential of Chariots southern acreage, first by Petrobras and now by BP, is a very positive signal. The majors evidently believe that Namibia could be a significant oil province, and that Chariots acreage is one of the best routes to test this potential. Our net asset value comprises 46p for financial items and 602p of risked exploration. We set our price target, of 510p, at a 20 per cent discount for country risk and the risks inherent in a stock with limited downside protection in the event of drilling a dry hole.

Collins Stewart says

Buy. Chariot has attracted the interest of two of the world's most experienced deepwater explorers, demonstrating the validity of its exploration strategy. Under a second farm-in agreement, Petroleum Geo Services will obtain a 10 per cent interest in the central blocks in exchange for funding half of the cost of a 2,500 square km 3D seismic acquisition programme. We view this deal as attractive, allowing Chariot to retain a 90 per cent equity interest in the acreage while significantly reducing its cost exposure. Conclusion of these agreements will remove any scepticism regarding the potential of Chariot's exploration programme offshore of Namibia. We retain our buy rating and 350p target.


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SHARE TIP UPDATE:

Buy

At 125p, Chariot's shares languish below our tip of the year buy advice (191p, 7 January 2011). But there can be no better endorsement of an oil and gas play than securing financial and operating commitments from Petrobras and BP and these impressive deals also prepare the way for near-term drilling, potentially this year. We reiterate our earlier advice. Buy.

Last IC view: Buy, 231p, 31 May 2011

Upside from activity in Q4-2011 and Q1-2012

Three companies stick out in the biggest way (and do not forget Aminex).



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Worth remembering the potential upside with BOR and FOGL with CHAR not far behind.



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In demand a bit today.

Alphaville's view on today............

Chariot Oil and Gas Ltd (CHAR:LSE): Last: 143.25, up 21.25 (+17.42%), High: 149.95, Low: 123.25, Volume: 2.12m - oil off the coast of Nambia with share price rise being pinned on Citigroup have finished a big sell order.lots of leverage clients holding the stock round there many of them traders I believe. Anyway stake went below 3% on 8th and there has been ongoing selling last week so maybe finally clear

www.gulfkeystone.com/uploads/investorschronicle-22july2011.pdf

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I think that this is about to take off !......not an expert on charts but to me it looks like it.... plus reading through the rns's and you can't help not being impressed !....

Certainly warming up :)

RNS Number : 6698W

Chariot Oil & Gas Ld

02 February 2012

02 February 2012

Chariot Oil & Gas Limited

("Chariot")

Conclusion of farm-out agreement with BP in block 2714A

Chariot Oil & Gas (AIM:CHAR), an independent oil and gas exploration company, today announces that its wholly owned subsidiary, Enigma Oil & Gas Exploration (pty) Limited ("Enigma"), has received full approval from the Ministry of Mines and Energy in Namibia for its farm-out agreement with BP in block 2714A, which was announced on 8 August 2011. As part of the farm-out agreement, BP has committed to cover Chariot's cost of drilling the first exploration well in this block as well as past costs incurred, which have now been received.

As a result, the ownership of Southern Block 2714A now consists of 50% Petrobras, 25% BP and 25% Enigma. The block currently has 11 identified prospects, one of which - Nimrod - is due to be tested in H2 of this year with the drilling of the Kabeljou-1 exploration well. The proposed well location has been agreed by all parties and Petrobras, as Operator, will update the partners with its progress throughout the coming months.

Paul Welch, CEO, commented:

"We are very pleased to have concluded this agreement with the support of the Ministry of Mines and Energy in Namibia. We can now push forward with our drilling campaign on Kabeljou-1 using the additional knowledge and experience of our new partner, whilst reducing our capital and risk exposure."