FORM 52-109FV2
                        CERTIFICATION OF INTERIM FILINGS
                        VENTURE ISSUER BASIC CERTIFICATE

I, WILLIAM H. PETRIE, EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF CHELSEA
OIL & GAS LTD., certify the following:

1.   REVIEW: I have reviewed the interim financial report and interim MD&A
     (together, the "INTERIM FILINGS") of CHELSEA OIL & GAS LTD. (the "ISSUER")
     for the interim period ended SEPTEMBER 30, 2013.

2.   NO MISREPRESENTATIONS: Based on my knowledge, having exercised reasonable
     diligence, the interim filings do not contain any untrue statement of a
     material fact or omit to state a material fact required to be stated or
     that is necessary to make a statement not misleading in light of the
     circumstances under which it was made, with respect to the period covered
     by the interim filings.

3.   FAIR PRESENTATION: Based on my knowledge, having exercised reasonable
     diligence, the interim financial report together with the other financial
     information included in the interim filings fairly present in all material
     respects the financial condition, financial performance and cash flows of
     the issuer, as of the date of and for the periods presented in the interim
     filings.

 Date: NOVEMBER 29, 2013

 /S/   WILLIAM PETRIE
------------------------
 WILLIAM H. PETRIE
 EXECUTIVE CHAIRMAN AND CEO




<PAGE>



--------------------------------------------------------------------------------

                                 NOTE TO READER

In contrast to the certificate required for non-venture issuers under National
Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim
Filings (NI 52-109), this Venture Issuer Basic Certificate does not include
representations relating to the establishment and maintenance of disclosure
controls and procedures (DC&P) and internal control over financial reporting
(ICFR), as defined in NI 52-109. In particular, the certifying officers filing
this certificate are not making any representations relating to the
establishment and maintenance of

i)   controls and other procedures designed to provide reasonable assurance that
     information required to be disclosed by the issuer in its annual filings,
     interim filings or other reports filed or submitted under securities
     legislation is recorded, processed, summarized and reported within the time
     periods specified in securities legislation; and

ii)  a process to provide reasonable assurance regarding the reliability of
     financial reporting and the preparation of financial statements for
     external purposes in accordance with the issuer's GAAP.

The issuer's certifying officers are responsible for ensuring that processes are
in place to provide them with sufficient knowledge to support the
representations they are making in this certificate. Investors should be aware
that inherent limitations on the ability of certifying officers of a venture
issuer to design and implement on a cost effective basis DC&P and ICFR as
defined in NI 52- 109 may result in additional risks to the quality,
reliability, transparency and timeliness of interim and annual filings and other
reports provided under securities legislation.

--------------------------------------------------------------------------------





<PAGE>