Cobalts Catalyst Rich Drilling Campaign Begins in Angola and the Gulf of Mexico November 2011
Cobalts Transformational Period Begins Cobalt has commenced drilling programs on two continents that will expose our shareholders to several billion barrels of exploration resource over the next 3 years Cobalt is focused in two of…
A Rich History That Continues to Deliver Results Completed Continue GOM Resume drilling Underway exploration drilling GOM exploration Planned Created prospect inventory Appraise and Discovered alliance develop Shenandoah with…
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…
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 Drilled on 2D data Complex (2.5-3.5 BBOE) with the primary objectives above salt…
Cameia-1 and Bicuar-1 Wells Designed Specifically for Angolas Deepwater Pre-salt Play Prospects Characterization Objectives Base of Salt Closure and Carbonate Mound; Bicuar-1 also targets Syn-Rift interval Prospective resources over…
Angola Kwanza Basin Pre-Salt License Round Attracted Global Attention and Participation Pre-salt Blocks and Operators Named Cobalt License Angolas 2011 License Round Conditional Award Industry Existing License 11 Pre-salt blocks…
Block 20: A Continuation of Block 21s Structural Setting Extensive north-south trending rifts with very large Pre-salt basement highs Baleia-1A (1996) The Baleia-1A well confirmed a working hydrocarbon system in the Lontra Block 20…
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)* Rabi-Kounga…
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…
Our GOM Lease Inventory A Source of Long-Term Value 5th Largest Leaseholder in Deepwater GOM * Enviable Remaining Lease Tenure With Attractive Terms Current Blocks Current Blocks 400 400 BP Non-operated Operated 300 300 APC…
2011-2013 GOM Drilling Program Ligurian-2 and North Platte contingent* permits granted by BOEMRE We expect to spud Ligurian-2 by year end We are members of Helix Well Containment Group Partner operated activity has resumed…
Ligurian / Heidelberg Cobalts Initial Miocene Discovery Tonga West Ligurian / Heidelberg discovery Discovery well (2009) encountered more Ligurian-2 than 200 of net oil pay 4Q Spud Ligurian-1 Heidelberg-1 Ligurian-2…
North Platte Cobalts First Operated Inboard Lower Tertiary Prospect Cobalt 60% (Operator) TOTAL 40% Prospect characterization Gross unrisked resources: 400 850 MMBOE* North Platte 2Q 2012 Spud Cobalt 60% working interest; 20% cost…
We Have the Financial Capacity to Execute Our Planned Multi-year Exploration Program Current Sources(1) 2011-13E Exploration Program 1.8 to 2.0 Billion Expenditures of 1.3 to 1.4Bn Up to 180 MM success-based Key Components (MM, Net)…
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…
Turning Our 2005 Vision into Shareholder Value Cobalt has an extraordinary portfolio of significant exploration assets We have the financial capacity to execute our planned multi-year exploration program We are focused on the…