COBALT COMPLETES NORTH PLATTE APPRAISAL WELL

Cobalt International Energy has completed drilling operations on the North Platte #4 appraisal well. The preliminary results are encouraging and indicate that the well encountered approximately 650 feet of net oil pay, which is greater than the approximately 550 feet of net pay found in the North Platte #3 appraisal well. The North Platte #4 initial appraisal results also indicate high quality Inboard Lower Tertiary Wilcox reservoirs on the eastern flank of the North Platte field.
Cobalt, as operator, owns a 60% working interest in North Platte, and TOTAL E&P USA owns the remaining 40% working interest.