NYSE: CIE www.cobaltintl.com High Value Oil-Focused Deepwater Exploration and Development September 2014 Investor Presentation NYSE: CIE SEPTEMBER 2014 INVESTOR PRESENTATION 1
Cobalts Distinctive Performance Relative to Industry Discovered Barrels Disciplined Use of Capital 3.5 BBOE Gross & 1.0 BBOE Net(1) 2.1 BN Exploration Expenditures 2 Exploration GOM 43% Costs / Barrel 57% West Africa Of the…
Delivering on All Major 2014 Expectations Portfolio management Ongoing dialogue regarding joint ventures New Ventures basin entry New blocks bought in Eastern Gulf during Spring 2014 Lease Sale Gulf of Mexico campaign Anchor currently…
Cobalt Angola is a World Class Business that Continues to Grow Three operated blocks with 40% working interest 100% exploration success rate 6 35 Orca Five oil discoveries of 1.1 2+ BBO (gross) Lontra 20 Excellent reservoir…
Cameia Field Development is On Track for 2017 First Production Block 21 Cameia Cobalt 40% Cameia 3 appraisal well confirmed (Operator) Block 21 geological model, large connected volume and very high well productivity Cobalt…
Advancing the GOLD (Greater Orca Lontra Development) Project Plan to develop up to 1 billion barrels of oil and Cobalt Block 20 Discoveries condensate between two fields with initial FPSO and Prospects Orca: 400 700+ MMBO Lontra…
Developing Our Discoveries a Founding Strategy We have been planning and engineering for major developments since Cobalts inception Keys to successful field developments Experience Leading deepwater development team has participated…
Kwanza Pre-salt Exploration is in the Early Stage: Large Potential Remains Angola and Brazil Creaming Curves(1) Kwanza Pre-salt is currently one Maturing of a few world class petroleum basins emerging globally Cumulative Discovered…
Loengo Prospect Now Drilling First Pre-salt Prospect on Block 9 Block 9 750 1,300 MMBO resource potential Cobalt 40% (Operator) Denden Prospect located between two oil discoveries Azul Denden (1983) and Azul (2011) Cobalt License 9…
Cobalt Gulf of Mexico Progressing on Multiple Fronts Greater North Platte Inboard Lower Tertiary (ILT) exploration North Platte appraisal begins in early 2015 Continued reprocessing of full azimuth seismic and maturation of offsetting…
Shenandoah One of the Largest Oil Accumulations in the Gulf of Mexico (1) Shenandoah Basin Shenandoah 2 well found 1000 of Shenandoah 3 Cobalt 20% net pay with no oil-water contacts 1 Shenandoah 3 appraisal well currently…
North Platte Field Looking More Impressive Cobalt Leases Cobalt Discovery Williams Fork Cobalt Prospects Resource estimate 400 850 MMBOE Latvian Appraisal well to be drilled with the new build Rowan Reliance drillship North…
Gabon Exploration Continues to Show High Potential Cobalt GABON Rabi-Kounga Diaman 1 de-risked Gabons deepwater Pre-salt play 940 MMBOE GABON Oil expected toward East and West where source rocks are shallower 21.25% (TOTAL and…
New Ventures Will Provide Future Exploration Prospect Inventory While we have no shortage of prospects in our existing inventory, we remain focused on future exploration opportunities Long term exploration success results from the…
Strong Balance Sheet to Pursue Exploration and Development Program Estimated 2014 Cash Uses and Ending Balance (BN) Funding principles remain unchanged 1.3 0.9 - 1.05 Maintain balance sheet strength 0.75 0.85 Complement with…
Cobalts Investor Base Continues to Diversify Cobalt Equity Investors Public Investors Original Investors: No longer represented on Board 28% Original Investors: Represented on Board 76% Each original investor owns less than…
Major Milestones Expected Through 2015 Portfolio management New Ventures basin entry Gulf of Mexico campaign North Platte appraisal Followed by exploration of surrounding prospects Shenandoah appraisal results move field towards…
Cobalt Plans for A Decade of Increasing Production from Current Portfolio Fields Expected on Production(1) Identified prospects with Gabon Prospects potential to provide additional discoveries and GOM Prospects developments Angola…
Outstanding FCPA Investigations The SEC and DOJ investigations began in 2011 in response to allegations of government official ownership of Nazaki Oil and Gaz. Nazaki had a 30% non-carried interest in Blocks 9 and 21 assigned by the…
Our Commitment to Creating Significant Shareholder Value Cobalt Commitments Focused Operating Model Safe and efficient operations Industry leading finding cost Leading Basin Positions per barrel Consistent growth in booked…
NYSE: CIE www.cobaltintl.com Investor Relations: +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 SEPTEMBER 2014 INVESTOR…
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