Jan. 2010 - The Criollo sidetrack exploration well reached a planned total depth of 31,145 feet TVD (9,493 meters), and Cobalt Energy is currently suspending operations on the well. Located on the Green Canyon Block 685 in 4,200 feet (1,280 meters) of water, Criollo's discovery well encountered 55 feet (17 meters) of Miocene age oil-bearing reservoirs, and the sidetrack well logged 73 feet (22 meters) of Miocene oil in correlative reservoirs. Both the original Criollo well and the sidetrack well encountered structural complexities connected with salt, preventing the testing of the entire prospective interval. The operator plans to review data from the well and reprocess existing 3D pre-stack depth migration seismic data to determine the next appropriate steps. Criollo's potential size is likely to be smaller than initially estimated, and the prospect's commerciality has not been determined. Cobalt serves as the operator of Criollo, holding a 60% working interest; Total holds the remaining 40% interest.

Nov. 2009 - The Development Driller I semisub rig has spud an exploration well at Cobalt's Criollo prospect on Green Canyon 685. The Criollo prospect is located in water depths of 4,093 feet (1,248 meters). Cobalt is the operator and holds a 60% working interest. Total holds the remaining 40% interest.

Jul. 2009 - Transocean's Development Driller I semisub rig is slated to drill and exploration well at the Criollo prospect on Green Canyon Block 685. Cobalt is the operator Criollo with a 60% working interest. Total holds the remaining 40% interest in the prospect.

Jul. 2009 - Cobalt submitted another Exploration Plan to MMS for the Criollo prospect. Criollo is located in a water depth of 4,093 feet (1,248 meters) on Green Canyon Block 685. The new plan proposes to add one additional well location, F, to the previously approved Initial Exploration Plan. Cobalt will drill, complete, and potentially test the proposed well location. Additional operations being covered under this EP include the setting of a subsea manifold over the proposed well location.

May. 2009 - According to the Minerals Management Service (MMS) Total acquired a 40% interest from Cobalt International in the Criollo prospect, Green Canyon block 685. The record title interest held is now Cobalt (60%) and Total (40%).

Feb. 2009 - Cobalt has filed an Initial Exploration Plan with the MMS for the Criollo prospect on Green Canyon 685. The plan is for drilling and completion of well locations B and C set to commence early March 2009. These operations are expected to take 130 days to complete.