Chariot Oil & Gas 1st Half Pretax Loss Narrows; Sees More Interest

Oil and gas explorer Chariot Oil & Gas Ltd. (CHAR.LN) Monday reported a sharply narrower fiscal first-half pretax loss, and said its assets in west Africa are attracting increasing interest following the successes in the region of companies like Tullow Oil PLC (TLW.LN).

The company, which inked a deal with Brazil's Petrobras Energia S.A. (PESA.BA) covering one of its assets, said it is seeking further opportunities to bring in partners.

The company said its pretax loss for the six months to Aug. 31 was $1.49 million compared to a loss of $11 million a year earlier. It didn't report any revenue.

Earnings in the year-earlier period were weighed on by the costs of an initial public offering, share options and higher administrative costs.

Company Web site: www.chariotoilandgas.com

-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com

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