Jun. 2012 - The Ligurian No. 2 well has failed to encounter commercial hydrocarbons and will now be plugged and abandoned after reaching a final depth of more than 30,000 feet (9,144 meters). The ENSCO 8503 (UDW semisub) drilled the well to a total depth of 31,800 feet (9,693 meters).

Nov. 2011 - Cobalt expects to commence exploratory drilling on its Ligurian No. 2 and North Platte No. 1 wells in the near future. The company will use the ENSCO 8503 semisub to drill Ligurian No. 2 followed by North Platte No. 1. Drilling should take about six months. Cobalt operates both wells and owns a 45 percent working interest and 60 percent working interest, respectively.

May. 2010 - Cobalt will now focus on the Ligurian No. 2 exploratory well, which the company plans to drill in 2010. As previously announced, the operator will also spud the North Platte No. 1 well this year. The order of drilling operations is dependent upon when the drilling permit for Ligurian No. 2 well is obtained relative to accepting the Ocean Monarch semisub from its current operator. Cobalt is the operator of both wells with a working interest of 60% in the North Platte No. 1 well, and a working interest of 45% in the Ligurian No. 2 well.

Feb. 2010 - Cobalt has submitted an Exploration Plan to the MMS for its Ligurian prospect in the Green Canyon area. Ligurian covers Green Canyon blocks 814 and 858 in water depths of 5,853 feet (1,784 meters). The plan proposes to drill, complete and potentially test four (4) well sites. Additional operations being covered under the EP includes setting subsea manifolds over the proposed well locations. Cobalt drilled a couple of exploration wells in 2009, however did not confirm a commercial discovery. Cobalt operates the Ligurian prospect with a 60% working interest while Total holds the remaining 40% interest.

Oct. 2009 - Cobalt International submitted an EP to MMS for three additional wells at Ligurian. The Ligurian prospect covers Green Canyon Blocks 813, 814 and 858 in a water depth of 5,638 feet (1,719 meters). Cobalt proposes to drill, complete and test three well locations. One well will be drilled on GC Block 813 location A and the other two wells, A and B on GC 814. This EP will also cover setting of a subsea manifold on all three proposed wells. Cobalt operates this prospect and holds a 60% working interest while Total holds the remaining 40%.

Jul. 2009 - The GSF Development Driller I has started moving on location for Cobalt Energy at its Ligurian prospect in Green Canyon 858. Cobalt is subletting the rig from BHP for approximately 270 days to drill two wells in the Gulf of Mexico.

Jun. 2009 - The Cobalt-operated Ligurian prospect was expected to spud at the end of May 2009, however the drilling schedule has been pushed back to mid-July.

May. 2009 - Transocean's GSF Development Driller I is expected to spud an exploration well at the Ligurian prospect in the Green Canyon Block 858 in 5,601 feet (1,707 meters) of water. Cobalt is the operator with a 100% interest in the prospect.

Feb. 2009 - Cobalt filed an Exploration Plan with the MMS for drilling at the Ligurian prospect on Green Canyon 858. The plan includes drilling and completion of GC858 well location A and B. Drilling is tentatively scheduled for 3/1/2009 and is expected to take 130 days.