Cobalt reveals first Syn-rift discovery in deepwater Angola presalt

Offshore staff

HOUSTON – Cobalt International Energy Inc. (NYSE:CIE), in partnership with the National Concessionaire Sonangol and block 21 partners, reports the first discovery in the Syn-rift interval in the Bicuar #1A presalt deepwater exploratory well offshore Angola.

The well was drilled to a measured depth of 5,739 m (18,829 ft) and encountered 56 m (184 ft) of net pay from multiple presalt intervals. Results of logging, coring, and fluid acquisition confirmed the existence of both oil and condensate in multiple intervals. No free gas zones or water contacts were observed. All well data was collected via openhole logging.

This is Sonangol’s and Cobalt’s fourth deepwater presalt discovery offshore Angola. The Bicuar #1A well is significance the first discovery of mobile hydrocarbons in the deeper presalt Syn-rift reservoir. After running production casing, the well was temporarily abandoned.

Following full processing and integration of all subsurface data collected from the well, the block 21 partners will evaluate any additional activities necessary to assess Bicuar’s commerciality.

Cobalt, as operator, owns a 40% working interest in block 21. Partners include Sonangol Pesquisa e Produção, SA, Nazaki Oil and Gaz, and Alper Oil Limitada.

01/23/2014

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