Chariot Oil & Gas has received approval from the Ministry of Mines and Energy in Namibia to enter the second renewal phase of two of its licences.

Licence 14, which encompasses the company's Northern Blocks 1811 A & B, and Licence 15, which encompasses Southern Block 2714B offshore Namibia, have been extended for two years until October 26th 2014.

"As a result of exceeding all our work programme commitments we have retained 100% of our acreage position in both areas and we look forward to continuing our aggressive exploration programmes across all our Blocks offshore Namibia," said Paul Welch, the Chief Executive Officer of Chariot.

Chariot currently holds licences covering eight blocks in Namibia, through its wholly owned subsidiary Enigma Oil & Gas Exploration (Pty), and one block in Mauritania through its wholly owned subsidiary Chariot Oil & Gas Investments (Mauritania), all of which are offshore. All of these blocks are currently in the exploration phase.

JH

Related share prices
Chariot Oil & Gas Ltd. (CHAR) share price