Cobalt Announces Drill Stem Test Results from Cameia #2 Lowest Interval and Provides Update on Operations
The Cameia #2 well did confirm the presence of the same high quality hydrocarbon bearing mound reservoir that was penetrated by the original Cameia #1 discovery well.
“While I am disappointed this deep interval did not flow oil to the
surface, I am encouraged by this interval’s potential for significant
flow rates across the basin. This information is important as we
continue the evaluation of the Kwanza Basin Pre-salt’s upside
potential,” noted
The results of this drill stem test have no bearing on the commerciality
of the
The Diamond Offshore Ocean Confidence drilling rig is now in the process
of temporarily abandoning the Cameia #2 well. The wellbore will be used
as part of the
Update on Other Well Operations
Cobalt anticipates that the Pre-salt Lontra #1 exploratory well in
In addition, the Ocean Rig Olympia drilling rig has spud the Diaman #1
well, located on the Diaba block, offshore
Finally, drilling operations continue in the deepwater Gulf of
About Cobalt
Cobalt is an independent oil exploration and production company active
in the deepwater U.S. Gulf of
Forward-Looking Statements
This press release includes “forward-looking statements” within the
meaning of the safe harbor provisions of the Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934 — that is, statements related to future, not past, events.
Forward-looking statements are based on current expectations and include
any statement that does not directly relate to a current or historical
fact. In this context, forward-looking statements often address Cobalt’s
expected future business and financial performance, and often contain
words such as “anticipate,” “believe,” “intend,” “expect,” “plan,”
“will” or other similar words. These forward-looking statements involve
certain risks and uncertainties that ultimately may not prove to be
accurate. Actual results and future events could differ materially from
those anticipated in such statements. For further discussion of risks
and uncertainties, individuals should refer to Cobalt’s
Source:
Cobalt International Energy, Inc.
Investor Relations:
Richard
A. Smith, +1-713-579-9141
Vice President, Investor Relations,
Compliance
and Risk Management
or
Media Relations:
Lynne L.
Hackedorn, +1-713-579-9115
Vice President, Government and Public
Affairs