NYSE: CIE www.cobaltintl.com Investor Presentation February 2016 NYSE: CIE FEBRUARY 2016 INVESTOR PRESENTATION 1
2016 Priorities Preserve liquidity and cash position Post Angola sale creates an enviable liquidity position in todays environment Flexibility to adjust cash spend further as needed Close Angola sale transaction(1) Fully engaged in…
Cobalts Cash Position (B) 3.0 0.60 0.65 1.2 B of cash at year-end 2015 2.35 - 2.4 1.4 3.0 B in cash post Angola sale (at year-end 2015 on an as adjusted basis) 2016 total uses of cash expected to be 600 MM to 650 MM (before…
Anticipate Government Approval for Sale Transaction(1) Cobalts transition team completing all activities in preparation for a complete and efficient transition to a new operator(s) Ramping down all Cameia Development Project work;…
Significant Cost Savings and Efficiency Improvements Substantial well cost and drilling efficiency improvements realized to date 25% reduction in non-rig rate drilling costs in the GOM Currently working with rig contractor to…
Cobalts Proven Strategy Unchanged Continued focus on finding large deepwater oil fields Large oil fields provide competitive breakeven economics as costs align to oil price Lower F&D via preferred partnerships, top quartile drilling…
Cobalts Continued Commitment to the Deepwater Gulf of Mexico Significant oil potential The worlds technology proving ground Existing infrastructure Stable fiscal terms and mature regulatory system Cobalts assets attractive even in…
Cobalt Net Discovered Resource of 500-650 MMBOE North Platte Anchor Shenandoah Basin Heidelberg Garden Banks Area Green Canyon Area Walker Ridge Area Green Canyon Area North Platte Discovery Shenandoah 1 Anchor Discovery and…
Exploration Portfolio Holds Potential for Additional Resources Goodfellow Eastern GOM Play Additional Attractive Prospects Keathley Canyon / Walker Ridge Area Lloyd Ridge/Atwater Valley South Anchor High quality ILT* prospect…
2016 Priorities Preserve liquidity and cash position Post Angola sale creates an enviable liquidity position in todays environment Flexibility to adjust cash spend further as needed Close Angola sale transaction(1) Fully engaged in…