Chariot Oil & Gas Ltd. (CHAR.LN), an Africa focused independent oil and gas exploration company, said Tuesday its wholly owned subsidiary, Enigma Oil & Gas Ltd., has signed a drilling rig contract with A.P. Moller Maersk A/S (MAERSK-B.KO) for a one well drilling slot using the Maersk Deliverer ultra deep water semi-submersible rig offshore Namibia.

MAIN FACTS:

-Rig will arrive at the end of March and the drilling of the Tapir South prospect will begin, an expected two month process.

-After seeing the results, the remainder of the initial drilling program will be determined and further wells planned for 2013.

-No financial details disclosed.

-Shares at 0945 GMT up 21 pence, or 13%, at 186.75 pence valuing the company at GBP301.48 million.

-By Alexandra Tunks, Dow Jones Newswires; 44-20-7842-9927; alexandra.tunks@dowjones.com

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