Chariot Oil & Gas Limited says that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd., has entered into a petroleum agreement (the "Agreement") with the Government of the Kingdom of Morocco ("Morocco") for a 75% interest and operatorship in offshore licence Rabat Deep. Rabat Deepis located adjacent to the Company's recently acquired Loukos and Casablanca / Safi licences and covers an area of 10,782km², giving Chariot an aggregate acreage position of 16,207km² offshore Morocco.

This Agreement remains subject to approval from the authorities and once complete, Chariot will be partnered with the Office National des Hydrocarbures et des Mines (ONHYM), the national oil company of Morocco, which will participate with a 25% carried interest.

Tags: Chariot Oil & Gas Limited