NYSE: CIE www.cobaltintl.com Investor Presentation September 2015 NYSE: CIE SEPTEMBER 2015 INVESTOR PRESENTATION 1
Angola Transaction On August 22, 2015, Cobalt entered into a PSA with Sonangol to sell all of its 40% working interest in Block 20/21 for 1.75 billion in cash Impact of Transaction Delivers on Cobalts promise to Selectively Develop…
Angola Transaction Demonstrates Cobalts Strategy in Action Cobalts guiding principles: Early entry in emerging deepwater oil-focused basins Material operated interests in high quality assets to influence pace and value creation Best…
Transaction Overview On August 22nd, Cobalt signed a PSA to sell all of its 40% Cobalt Licenses interest in Blocks 20 and 21 offshore Angola to Sonangol Discoveries EP for 1.75 billion in cash, effective January 1, 2015 Cash…
As Adjusted Balance Sheet and Use of Cash (B) Unrestricted Proceeds Cobalts as adjusted 2Q 2015 unrestricted cash Use of Cash (Liquidity) increases by 2.1 billion to 3.75 billion upon close of entire transaction 3.75 On an as…
Cobalt Today Continued Execution on Our Strategy Post transaction, our discovered asset portfolio is concentrated in the deepwater GOM, where we continue appraisal and development operations Heidelberg remains on track for first oil by…
Deepwater Gulf of Mexico Subsalt Miocene Portfolio includes exploration, development and, Lower Tertiary by mid 2016, producing assets Cobalt Leases Aggressively applying latest technologies Cobalt Discovery Current operations…
Heidelberg on Schedule and Budget for Startup Heidelberg remains on track for first oil by mid-2016 Facility designed to produce 80,000 BOPD Spar hull on location with mooring lines installed Topsides set for move to location in…
Inboard Lower Tertiary - Proven Oil Fairway with a Portfolio of Quality Appraisal Projects and Exploration Prospects Inboard Lower Tertiary Area Rum Ramsey (24%) Cobalt Leases 2017 Exploration Well Discoveries North Platte (60%)…
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…
Shenandoah A Significant Inboard Lower Tertiary Field Cobalts initial Inboard Lower Tertiary oil discovery Shenandoah 1 Shenandoah 2 appraisal logged in excess of Shenandoah 2 1,000 of net oil pay Currently drilling Shenandoah 4…
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 Appraisal drilling underway,…
Goodfellow Building on Cobalts Position in a Prolific Fairway Cobalt Leases Cobalt Exploration Goodfellow Large 3-way structure located in the Inboard Lower Tertiary Fairway Located between Shenandoah and North Platte Recently…
Exploration and New Ventures 400 800 MMBO discovered(1) since 2012 Flemish Pass/ Focusing on commercially and geologically Orphan attractive opportunities with manageable above ground risk U.S. Gulf of Mexico Offshore Mexico…
Cobalt Positioned to Thrive in the Future Strengthened balance sheet provides assurance, flexibility, and optionality for the existing portfolio and growth opportunities Retains large and economically attractive deepwater assets…
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