NYSE: CIE www.cobaltintl.com Pivoting to Development at an Opportune Time May 2015 NYSE: CIE MAY 2015 INVESTOR PRESENTATION 1
Cobalt 2015 The Pivot to Development Continuing to execute the strategy on which the company was founded Deepwater oil, early entry positions, material assets, best people and technology, focus, strong balance sheet With 10…
Cobalt Founded on Belief that Superior Returns Can be Generated in a Price Environment Comparable to Todays Brent (/B) 160 140 Atlantis Marco Polo Boomvang / 120 Nansen Na Kika Thunder Formation Mad Dog 100 Horse of Cobalt…
Global Focused Strategy, High Quality Assets, Proven Deepwater Operators Operator Heidelberg Block 21 Cameia(1) Shenandoah Block 20 Orca(2) North Platte Gabon Diaba Anchor Diaman Strategy has focused on Creating…
Start Up of Fields Will Yield Significant Production and Growing Cash Fields Expected on Production(1) All Mavinga(2) projects currently economic, Bicuar(2) mid-teens - 30% IRR at sanction(3) Lontra(2) N. Platte Anchor…
Cobalts Financing Platform for the Next Few Years Project sanctioning will occur over several years Utilize All financing Only Cameia sanctions in existing Balance needs do not 2015 Sheet cash and require sourcing Current forecast…
A Planned Transformation of Expenditures in 2015 Cobalt pivots from being exploration-dominated to selectively developing our existing discoveries The natural evolution of our portfolio transitioning from an exploration to an E&P…
Executing Asset-based Financings a Key Priority in 2015 Establish a banking group for development-phase Reserve Based Lending Commitment from multiple banks for a limited recourse 150 MM senior secured RBL facility for Heidelberg(1)…
Heidelberg on Schedule and Budget for Startup Heidelberg remains on track for first oil in the first half of 2016 Facility designed to produce 80,000 BOPD Commenced installation operations for flowlines and export lines…
Cameia Cobalts First Operated Development 300500 MMBO (gross) resource(1) High quality liquid (39-41 API) Angola Block 21 Cobalt 40% WI Estimated 30,000+ BOPD per well capability Operator Development Plans Revisited Cameia project…
Shenandoah A Significant Inboard Lower Tertiary Field Cobalts initial Inboard Lower Tertiary oil discovery Shenandoah 2 appraisal logged in excess of 1,000 of net oil pay Shenandoah 1 Shenandoah 3 appraisal Shenandoah 2 Found…
Orca (Angola) One of the Top 3 Discoveries of 2014 Top 10 Global Discoveries in 2014 (MMBOE) 949 Lontra Orca Discovery Orca Appraisal 660 40 miles Cobalt Discovery Offshore Angola 403 330 280 276 0 16 mi 240 200 197 25 km…
North Platte Cobalts First Operated Inboard Lower Tertiary Discovery Cobalt Leases Cobalt Discovery 400 850 MMBOE(1) (gross) resource range North Platte Discovery North Platte 1 discovery well logged 550 of net oil pay Seismic…
Anchor One of Cobalts Best Discoveries in the Gulf of Mexico Cobalts 3rd major Inboard Lower Tertiary discovery, along with North Top 10 Global Discoveries in 2014 (MMBOE) Platte and Shenandoah 949 Initial appraisal well planned…
Ongoing Gulf of Mexico Exploration and Appraisal Activity 3 appraisal wells forecast in 2015 1 operated exploration well potentially North Platte 3 follows North Platte 3 Shenandoah 4 South Platte or Rocky Mtn. (Miocene Prospect)…
Portfolio Renewal Through International New Ventures Exploration strategy proven with basin and play opening exploration success in: Gulf of Mexico Angola Gabon Inboard Lower Tertiary Pre-salt Pre-salt Generate multiple…
Positioned to Thrive in the Future Large and economically attractive deepwater assets at various stages of appraisal and development Significant future production and operating cash flow potential Multiple options to secure future…
Loading...
