Cobalt confirms Lontra #1 offshore Angola discovery

Cobalt International Energy Inc. has tested its Lontra #1 presalt discovery well in block 20, offshore Angola.

Offshore staff

HOUSTON –Cobalt International Energy Inc. has tested its Lontra #1 presalt discovery well in block 20, offshore Angola. During the drillstem test, the well produced at a stabilized flow rate of 2,500 b/d of condensate and 39 MMcf/d of gas.

The Lontra #1 exploratory well was drilled to a TD of 4,195 m (13,763 ft) and penetrated 75 m (250 ft) of net pay in what was said to be a high-quality reservoir section. The discovery well encountered both a high liquids content gas interval and an oil interval.

The drillstem test was conducted in the high liquids content gas interval in order to acquire data on the flow capacity and fluid composition of this interval. The flow rates were restricted by the surface test facilities on theSSV Catarina drilling rig.

The company has now drilled three exploration wells in theKwanza presalt basin and has made three discoveries. Cobalt is mobilizing the SSV Catarina to drill the Orca #1 presalt exploratory well (formerly the Baleia prospect), located 15 mi (25 km) northeast of Lontra in block 20.

Cobalt, as operator, owns a 40% working interest in both Lontra and Orca.BP and Sonangol P&P are partners in block 20, each with a 30% working interest.

12/02/2013

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