Cobalt Anticipates Rig Arrival Offshore Angola

Cobalt International Energy received notice that the Ocean Confidence semsiub will arrive on Block 21 around July 12 to commence drilling operations.

Upon arrival, Cobalt will begin its initial two-well pre-salt deepwater exploratory drilling program on Block 21 offshore Angola. The operator plans to drill the surface hole of the Bicuar No. 1 exploratory well, then move the drilling rig to the Cameia No. 1 well to drill and evaluate the prospect, then return to the Bicuar No. 1 well to drill and evaluate it.

Cobalt expects each well to take approximately 80 to 100 days to drill and additional 10 to 20 days to evaluate, if successful. Cobalt operates the block with a 40% working interest. 

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