NYSE: CIE www.cobaltintl.com Value Creation through Successful Exploration and Selective Development March 2014 Investor Presentation NYSE: CIE MARCH 2014 INVESTOR PRESENTATION 1
Cobalts Exploration-Led Strategy is Unchanged Since Inception Strategic Beliefs Cobalt Strategy and Performance Greatest value created by oil exploration Oil-focused 200+ MMBOE prospects (actual discovery size averages 400 MMBOE)…
Best in Class Deepwater Exploration has Created a Unique Opportunity Set Nine material discoveries prove three emerging basins Multiple major projects moving toward sanction can deliver 250 KBOED net production(1) Operator at 6 of 9…
Robust 2014 Exploration and Development Activity Bicuar Discovery First Syn-rift discovery in Kwanza Basin; 150-300+ MMBO Orca Discovery Largest oil discovery to date in Pre-salt Kwanza Basin; 400-700 MMBO West Africa Cameia 3…
Five Back-to-Back Operated Discoveries in the Pre-salt Kwanza Basin N S 100% exploration success rate suggests world-class petroleum province and Cobalt Discovery establishes a potential giant trend Cobalt Prospect Post-Salt Salt…
Exploration Program Results to Date Have Resulted in a Step-change in Our Pre-salt Understanding and Risking Chance of…
Syn-Rift Discoveries De-risk Deeper Reservoirs in the Kwanza Basin Bicuar and Orca discoveries proved presence of quality Syn-rift reservoir Cobalt Prospects in Blocks 20 and 21 Lontra Orca Significantly de-risks remaining prospects…
Major Oil Discovery at Orca Exceeds Pre-Drill Expectations Orca 1A Discovery Cobalt License Cobalt Discovery Orca oil discovery estimated 400 700 Baleia 1A Cobalt Prospect MMBO (1996) Cobalt Successful Well Industry Discovery…
Cobalt has Competitive Advantages as Kwanza Basin Drilling Accelerates Cobalt has collected valuable, 35 proprietary data Eni Operated 100,000 ft of Pre-salt wells drilled 36 3,800 sq miles of 3D seismic Angola Conoco Operated 300…
Cobalts Proven Inboard Lower Tertiary Geologic Model in the Gulf of Mexico Cobalt Geologic Model Potential for thick ponded reservoirs located up-dip closer to the Paleo Delta System Paleo Delta Optimally positioned for improved…
Cobalt has Discovered Three of the Largest Recent Deepwater Fields in GOM Largest GOM Lower Tertiary and Miocene Discoveries since 2005 800 Cobalt Discovery 700 Lower Tertiary Estimated Ultimate Recovery (MMBOE) Miocene 600…
Cobalts 2014 Inboard Lower Tertiary Program North Platte Processing recently acquired Full Discovery Cobalt 60% Azimuth 3D seismic over North Anchor (Operator) Latvian Platte and surrounding prospects Williams Fork Enhanced…
Participation in Partner Operated Appraisal Well on Yucatan Discovery Shenandoah Discovery Cobalt 20% Yucatan 2 appraisal well spud in Q1 2014; results expected mid 2014 Garden Banks Green Canyon Tests high potential, attractive…
High Margin Oil Projects Advancing to First Production Heidelberg Project 210 - 424 MMBOE gross Miocene resource(1) with 9.375% working interest Cobalt booked proved undeveloped reserves in 2013 of 7.9 MMBL and 3.4 BCF(2)…
Maintaining a Strong Balance Sheet to Pursue Exploration and Development 2014 Estimated Cash Balance Expenditures Shifting Toward Appraisal (B) & Development 1.8 0.75 0.85 (MM) 2013 2014 0.9 1.1 800-900 750-850 12/31/2013…
Value Creation through Successful Exploration and Selective Development Performance continues to validate our strategy 9 material discoveries moving forward Selective developer of discovered barrels Deep inventory of follow-on…
NYSE: CIE www.cobaltintl.com Investor Relations Contact: +1 713-452-2322 Cobalt International Energy, Inc. Cobalt Center 920 Memorial City Way, Suite 100 Houston, TX 77024 Main: +1 713-579-9100 NYSE: CIE MARCH 2014…