Chariot reports wider losses, announces fund raising

Africa-focused oil and gas exploration company Chariot Oil and Gas reported wider losses last year but was upbeat about its prospects for 2012 with the spudding of its Tapir South project expected by early April.

Africa-focused oil and gas exploration company Chariot Oil and Gas reported wider losses last year but was upbeat about its prospects for 2012 with the spudding of its Tapir South project expected by early April.

The company reported a pre-tax loss of $9.2m in the 10 months ended December 31st, steeper than the $7.3m loss reported in the longer 12-month period to February 28th 2011. Loss per share remained stable at $0.05. Chariot has changed its year-end date to the end of the calendar year.

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