Cobalts Catalyst Rich Drilling Campaign Begins in Angola and the Gulf of Mexico August 2011
Cobalts Transformational Period Begins Cobalt is commencing drilling programs on two continents that will expose our shareholders to several billion barrels of exploration resource Cobalt is focused in two of the worlds most…
A Rich History That Continues to Deliver Results Continue GOM Resume drilling exploration drilling GOM exploration Created prospect inventory Appraise and Discovered alliance develop Shenandoah with TOTAL Completed 500 MM…
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 Industrys First Wells Designed Specifically for West Africas Deepwater Pre-salt Play Prospects Characterization Objectives Base of Salt Closure and Carbonate Mound; Bicuar-1 also targets Syn-Rift interval…
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 Baleia-1A (1996) Extensive north-south trending rifts with Lontra Block 20 very large Pre-salt basement highs Prospect Outlines The Baleia-1A well confirmed a working…
Cobalts Pre-salt Prospect Inventory in Gabon - Characterized by Large Pre-salt Structures Gabon 0 50 Kilometers In close proximity to large Pre-salt onshore field and offshore discovery Rabi-Kounga Angola 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…
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 Plan to drill Ligurian-2 followed by North Platte Ensco 8503 sublet is expected to be complete and rig returned to GOM in 4Q We expect outside operated activity to resume in 2011 We are members…
Ligurian / Heidelberg Cobalts Initial Miocene Discovery Tonga West Ligurian / Heidelberg discovery Discovery well (2009) encountered more than 200 of net oil pay Ligurian-2 Heidelberg-1 Ligurian-2 (Cobalt-operated appraisal…
North Platte Cobalts First Operated Inboard Lower Tertiary Prospect Cobalt 60% (Operator) TOTAL 40% Prospect characterization Gross unrisked resources: 400 850 MMBOE* North Platte Cobalt 60% working interest; 20% cost interest**…
Plans and Objectives of Cobalts Programs 2011 Plans Objectives Make large discoveries, De-risk West Angola Block 21 Drill Cameia and Africa Pre-salt; Appraise discoveries; (operated) Bicuar prospects Mature and drill offset…
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 Key Components (MM, Net) West Africa Drilling…
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…