Cobalt International Energy Reports Diaman #1B Well has Successfully Confirmed Existence of Working Petroleum System

HOUSTON--(BUSINESS WIRE)-- Cobalt International Energy, Inc. (“Cobalt”) CIE today provided an update on its deepwater drilling operations in West Africa and the Gulf of Mexico, and announced that it has entered into a new rig contract. In West Africa, the Total Gabon operated Diaman #1B well, drilled on the Diaba block in offshore Gabon, has reached its total depth of 5,585 meters (18,323 feet), and encountered approximately 50-55 meters (160-180 feet) of net hydrocarbons in the objective Pre-salt formations. The Diaman #1B well has successfully confirmed the existence of a working petroleum system. Early indications are that the discovered hydrocarbons are gas with condensate. A full analysis of the hydrocarbon encountered in the sandstone reservoirs will be See full press release