NYSE: CIE www.cobaltintl.com Investor Presentation January 2016 NYSE: CIE JANUARY 2016 INVESTOR PRESENTATION 1
Cobalt Today Continued Execution of Our Strategy Post Angola, our discovered asset portfolio is now primarily concentrated in the deepwater Gulf of Mexico, where we continue appraisal and development operations Heidelberg first oil…
As Adjusted Balance Sheet and Use of Cash post Angola Transaction (B) Restricted Cobalts as adjusted 3Q 2015 unrestricted cash Unrestricted Proceeds (Liquidity) is estimated at 3.4 billion upon close of Use of Cash entire…
Deepwater Gulf of Mexico Subsalt Miocene Portfolio includes exploration, development and Lower Tertiary producing assets Cobalt Leases Aggressively applying latest technologies Cobalt Discovery Current operations Leasehold…
Heidelberg Startup Accelerated Heidelberg first oil achieved in 1Q16 Initial production from three subsea wells, with two additional wells coming on line at a later date Reserve and resource estimate(1) : 217-420 MMBOE (gross)…
Inboard Lower Tertiary - Proven Oil Fairway with a Portfolio of Quality Appraisal Projects and Near Term Exploration Inboard Lower Tertiary Area Cobalt Leases Discoveries North Platte (60%) Successful Appraisal Prospects Anchor…
North Platte Cobalts First Operated Inboard Lower Tertiary Discovery Cobalt Leases Cobalt Discovery North Platte 1 discovery well logged 550 of net oil pay North Platte Discovery North Platte 3 appraisal well drilling completed…
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 Shenandoah 4 appraisal well…
Anchor One of Cobalts Best Discoveries in the Gulf of Mexico Cobalts 3rd major Inboard Lower Tertiary discovery, along with North Platte and Shenandoah Anchor Discovery The Anchor 2 discovery well, drilled in and Sidetrack late…
Goodfellow Building on Cobalts Position in a Prolific Fairway Cobalt Leases Cobalt Prospect Goodfellow Large 3-way structure located in the Inboard Lower Tertiary Fairway Located between Shenandoah and North Platte Cobalt has…
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 Large and economically attractive deepwater assets progressing…