Update on West Africa and Gulf of Mexico Drilling Programs February 2012
Active Transformational Drilling Campaign Cobalts active drilling program in two of the worlds most prospective oil prone basins will expose our shareholders to several billion barrels of exploration resource. Key ongoing events:…
Cameia-1 Discovers Oil Cobalt Leases Pre-salt Discoveries Pre-salt oil shows Cameia-1 discovery confirms Baleia 1996 geologic model: Discovery Cobalts first Pre-salt discovery offshore West Africa Cobalt Cameia-1 2011 20 Very…
Angolas Emerging Pre-salt Play Cobalt Leases Industry Licenses Pre-salt Discoveries The Cameia-1 and Azul-1 discoveries Pre-salt oil shows confirmed a working Pre-salt petroleum system and significantly de-risks the Baleia 1996…
Cobalts Pre-salt Prospect Inventory in Gabon - Characterized by Large Pre-salt Structures Gabon In close proximity to large Pre-salt 0 50 onshore field and offshore discovery Kilometers Rabi-Kounga field (940 MMBOE)* Maruba 2…
Cobalts Gulf of Mexico Portfolio - Multiple Play Types, Numerous Oil Focused Prospects Miocene Trend Key leaseholder in established GOM play 25 identified Cobalt prospects* (includes Ligurian/Heidelberg discovery) Over 1 billion BOE…
Ligurian / Heidelberg Appraisal of Cobalt's Initial Discovery in Progress Tonga West Ligurian / Heidelberg Discovery Ligurian-2 Discovery well (2009) encountered more than 200 of net oil pay Heidelberg-1 Ligurian-2 (Cobalt-operated…
North Platte Cobalts First Operated Inboard Lower Tertiary Prospect Will spud following Ligurian-2 using Ensco 8503 Williams Fork Latvian Prospect characterization Baffin Bay Gross unrisked resources: 400 850 MMBOE* North…
We Have the Financial Capacity to Execute Our Planned Multi-year Exploration Program Sources Post Block 20 Closing(1) 2012-13E Exploration Program 1.7 to 1.9 Billion Expenditures of 700 to 900 MM Up to 180 MM success-based Key…
Turning Our 2005 Vision into Shareholder Value Cobalt has an extraordinary portfolio of significant exploration assets with discoveries in both Angola and the Gulf of Mexico We have the financial capacity to execute our planned…
Appendix 13 Cobalt International Energy, Inc. Company Presentation February 2012 NYSE: CIE www.cobaltintl.com
Cobalt 2011 11 Billion Barrels of Net Unrisked Potential West Africa Pre-salt analogs to Brazil and shallow Albian resources 3 Cobalt-operated Angola blocks 1 Gabon block Over 60 Pre-salt prospects* Gulf of Mexico 7.6 billion BOE…
A Rich History That Continues to Deliver Results Completed Continue GOM Resume drilling Underway exploration drilling GOM prospect Planned Created inventory Appraise and Discovered alliance develop Shenandoah with TOTAL…
Brazil and West Africa Pre-salt - A Single Geologic History and Setting Atlantic Rift 120 million years ago, the Whale Park Complex Gabon Recncavo Basin (Campos Basin, Brazil) and 2.6 BBO from equiv. Blocks 20 and 21 (Kwanza…
Location of Cobalts Kwanza Basin Blocks to Campos Basin Discoveries at Time of Deposition Atlantic Rift Brazil Baleia-1A (1996) Whale Park Pre-salt 120m Pre-salt oil column Complex (2.5-3.5 BBOE) discovered Not flow tested…
Significant Volumes of Resources Exposed to the Drill Bit DeGolyer & MacNaughton Resource Exposure From Feb. 2011 Assessment 2011-2013 Planned Drilling (Net Mean, BBOE) 8 BBOE 3P Reserves & Net Unrisked Contingent 0.1 Mean…