The Lontra #1 exploratory well was drilled to a total depth of 4,195 meters (13,763 feet) and penetrated approximately 75 meters (250 feet) of net pay in a very high quality reservoir section. The discovery well encountered both a high liquids content gas interval and an oil interval. The drill stem 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.
“We and our partners Sonangol P&P and BP are very pleased with the
results of our Lontra #1 discovery,” said
Following the temporary abandonment of the Lontra #1 well, Cobalt has mobilized the Petroserv SSV Catarina rig to drill the Orca #1 Pre-salt exploratory well (formerly the Baleia Prospect), located approximately 15 miles (25 kilometers) northeast of Lontra in Block 20. Cobalt, as operator, owns a 40 percent working interest in both Lontra and Orca.
Partners in Block 20 are BP and Sonangol P&P, each with a 30 percent working interest.
A conference call for investors will be held on
The conference call can be accessed live over the telephone by dialing
(877) 705-6003, or for international callers, (201) 493-6725. A replay
will be available shortly after the call and can be accessed by dialing
(877) 870-5176, or for international callers, (858) 384-5517. The
passcode for the replay is 13573180. The replay will be available until
Cobalt is an independent 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
Cobalt International Energy, Inc.
John P. Wilkirson, +1-713-452-2322
Chief Financial Officer
Lynne L. Hackedorn, +1-713-579-9115
Vice President, Government and Public Affairs