NYSE: CIE www.cobaltintl.com Lontra 1 Value Creation through Successful Exploration and Selective Development February 2014 Investor Presentation NYSE: CIE FEBRUARY 2014 INVESTOR PRESENTATION 1
2013: A Year of Unparalleled Exploration and Operational Results Best in Class Deepwater Exploration Success 71% Drilling Success Rate 5 for 7 on exploration and appraisal wells Made the largest discovery in the world in 2013(1)…
Robust 2014 Exploration and Development Activity Bicuar 1A First Syn-rift discovery in Kwanza Basin; 150-300+ MMBO Orca 1 Large Pre-salt structure; currently drilling; results in Q1 2014 West Africa Cameia, Lontra Potential 2014…
Stellar Success Rate as Cobalt Opens Pre-salt Kwanza Basin N 100% exploration success rate suggests world-class petroleum province and S establishes a potential giant trend Cobalt Discovery Cobalt Prospect Post-Salt Post-Salt…
Exploration Program Results to Date Have Resulted in a Step-change in Our Pre-salt Understanding and Risking Chance of…
Cobalt has Competitive Advantages as Kwanza Basin Drilling Accelerates Cobalt has collected valuable, 35 proprietary data Eni Operated 100,000 ft of Pre-salt drilled Orca 1 36 3,800 sq miles of 3D seismic Angola Conoco Operated…
Syn-Rift Discovery De-risks Deeper Reservoirs in the Kwanza Basin Bicuar discovery proved presence of quality Syn-rift reservoir Cobalt Prospects in Blocks 20 and 21 Lontra Orca 1 Significantly de-risks remaining prospects across the…
Orca 1: Offset Well from 1996 Baleia Test Lontra 1 Discovery Cobalt License Baleia 1A Orca 1 targets the Pre-salt section (1996) Cobalt Discovery Cobalt Prospect found in the Baleia 1A well; second Cobalt Successful Well Pre-salt…
Cobalts Proven Inboard Lower Tertiary Geologic Model in the Gulf of Mexico Cobalt Geologic Model Potential for thick ponded reservoirs located up-dip closer to the Paleo Delta System Paleo Delta Optimally positioned for improved…
Cobalt has Discovered Three of the Largest Recent Deepwater Fields in GOM Largest GOM Lower Tertiary and Miocene Discoveries since 2005 800 Cobalt Discovery 700 Lower Tertiary Estimated Ultimate Recovery (MMBOE) Miocene 600…
2014 Inboard Lower Tertiary Program Processing recently acquired North Platte Full Azimuth 3D seismic over Williams Fork Discovery Anchor North Platte and surrounding Cobalt 60% Latvian (Operator) prospects Enhanced image of…
Anchor: Inboard Lower Tertiary Prospect Anchor Garden Banks Green Canyon Large, well-defined 3-way Inboard Lower Tertiary Prospect with Miocene Keathley Canyon Walker Ridge potential 0 50 Miles Chevron operated with spud in…
High Margin Oil Projects Advancing to First Production Heidelberg Project 210-424 MMBOE gross Miocene resource(1) with 9.375% working interest Cobalt booked proved undeveloped reserves in 2013 of 7.9 MMBL and 3.4 BCF(2)…
Maintaining a Strong Balance Sheet to Pursue Exploration and Development 2014 Estimated Cash Balance Expenditures Shifting Toward Appraisal (B) & Development 1.6 1.7 0.75 0.85 (MM) 2013 2014 0.7 0.8 800-900 750-850…
Proven Track Record Based on Exploration Led Value Delivery 2005 Q1 2014 Solid Foundation: Proven Success: Continual Growth: Unique Deepwater Exploration Selective Development of A Leading Exploration and Portfolio, Technology and…
Dominant Positions For Future Growth Deepwater West Africa: Cobalt Pre-eminent Explorer 5 discoveries : Lontra, Cameia, Bicuar, Mavinga, Diaman Pre-salt Play major new trend; Cobalt discoveries prove regional geology 1,360,000 net…
Value Creation through Successful Exploration and Selective Development Performance continues to validate our strategy 8 material discoveries moving forward Selective developer of discovered barrels Deep inventory of follow-on…
NYSE: CIE www.cobaltintl.com Investor Relations Contact: +1 713-452-2322 Cobalt International Energy, Inc. Cobalt Center 920 Memorial City Way, Suite 100 Houston, TX 77024 Main: +1 713-579-9100 NYSE: CIE FEBRUARY 2014…
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