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Cobalt Hits Pay at North Platte #4 Appraisal Well
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Cobalt has completed drilling operations on the North Platte #4 appraisal well. The preliminary results are encouraging and indicate that the well encountered approximately 650 feet of net oil pay, which is greater than the approximately 550 feet of net pay found in the North Platte #3 appraisal well. The North Platte #4 initial appraisal results also indicate high quality Inboard Lower Tertiary Wilcox reservoirs on the eastern flank of the North Platte field.
Cobalt is currently evaluating log data, fluid samples and pressure information and is preparing for a geologic sidetrack to further analyze the extent of the eastern flank of the field. The geologic sidetrack is expected to be completed in the first quarter.
Cobalt, as operator, owns a 60% working interest in North Platte, and…
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