Apr. 2013 - Cobalt International recently completed a drill stem test (DST) on the Cameia-2 appraisal well in Block 21 offshore Angola. The test, which was conducted on the lowest drilled interval, did not produce any measurable hydrocarbons but did confirm the existence of an unexplored lower interval potentially capable of high flow rates across the Kwanza Basin. Hydrocarbons were confirmed in the same mound reservoir that was encountered in Cameia-1. The appraisal well was drilled by the Ocean Confidence (UDW semisub) and will now be plugged and abandoned for use in the Cameia Mound Development Project which is expected to be sanctioned in 2014.

Feb. 2012 - Cobalt International says drill stem testing results on its Cameia pre-salt discovery in Block 21 offshore Angola have exceeded expectations. The results of this wireline evaluation program confirmed the presence of a 1,180 foot gross continuous oil column with over a 75 percent net to gross pay estimate. No gas/oil or oil/water contact was evident on the wireline logs. Production is expected to be in excess of 20,000 bopd. The company has decided to immediately begin appraisal operations and plans are underway to begin drilling Cameia-2. The appraisal well is expected to take between 100 to 120 days to be drilled to a depth of 16,000 to 18,000 feet (4,877 to 5,486 meters). Cameia-1 was drilled by the Ocean Confidence (UDW semisub) in 5,518 feet (1,682 meters) of water.

Aug. 2011 - Cobalt Energy has commenced exploratory drilling on its Cameia No. 1 well in Block 21, offshore Angola. Well operations are being performed with the Diamond Ocean Confidence semisub. The well is targeting pre-salt objectives. Cobalt expects for drilling to take 80 to 100 days. Cobalt operates the block with a 40% working interest.

Jun. 2011 - 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.

May. 2011 - Sonangol has approved Cobalt International Energy's drilling plans for the Cameia-1 and Bicuar-1 pre-salt exploratory wells on Block 21 offshore Angola. Given the proximity of the well locations, Cobalt plans to drill the surface hole of Bicuar-1, move the rig to Cameia-1 to drill and evaluate the prospect, then return to Bicuar-1 to drill the well to total depth. The operator anticipates that exploratory drilling will commence in second quarter 2011. Cameia is located in a water depth of 5,577 feet (1,700 meters) and Bicuar lies in 5,085 feet (1,550 meters) of water.