Cobalt International Energy Announces Significant Oil Discovery in Gulf of Mexico

Cobalt International Energy

today announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. Based on extensive wireline evaluation, the discovery well encountered several hundred feet of net oil pay in multiple Inboard Lower Tertiary sands. “Today's announcement is another important milestone for Cobalt,” said Joseph H. Bryant, Chairman and Chief Executive Officer. “Cobalt's founding vision included making significant operated discoveries in multiple world-class deepwater oil basins. Coupled with our previous Cameia announcements in Angola, Cobalt has demonstrated it has the technical and operational skills to deliver on our promises.” “North Platte is particularly