Cobalt confirms pre-salt discovery at Lontra #1

Cobalt International Energy successfully tested its previously announced Lontra #1 Pre-salt discovery well in Block 20, offshore Angola. During the recently completed drill stem test, the Lontra well produced at a stabilised flow rate of 2,500 barrels per day of condensate and 39M ft3 per day of gas. The flow rates were significantly restricted by the surface test facilities on the SSV Catarina drilling rig.

The Lontra #1 exploratory well was drilled to a total depth of 4,195m and penetrated approximately 75m of net pay in a very high quality reservoir section. The discovery well encountered both a high liquids content gas interval and an oil interval. The drill stem test was conducted in the high liquids content gas interval in order to acquire data on the flow capacity and fluid composition of this interval.

Joseph H. Bryant, Cobalt’s chairman and CEO, said, “While further appraisal drilling will be required to determine the ultimate size of the Lontra field, it is clear that Lontra is a discovery on a global scale. We and our partners as the Contractor Group have already begun discussions with the Concessionaire regarding the simultaneous commercialisation of both the liquids and the gas discovered in Lontra for the benefit of both Angola and the Contractor Group.”