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Cobalt International Energy, Inc. Message Board

  • aime5pierre aime5pierre May 1, 2014 8:15 AM Flag

    The future for CIE from the horse's mouth

    "The Orca discovery is by far the largest and most significant oil discovery to date in the Kwanza Basin, and is potentially one of the largest oil fields in Angola," said Joseph H. Bryant, Cobalt's Chairman and Chief Executive Officer. "We are very encouraged and excited by our DST results and the extraordinary flow capacity of the Orca reservoir which gives us confidence that wells in the field will flow oil at rates equal to or greater than the rates we expect in our Cameia field. In addition, our drilling operations continue to improve, and our understanding of the Kwanza Basin reservoir systems has greatly improved by the extensive testing program that we carried out on this well. The excellent reservoir quality we encountered at Orca has positive implications on the rest of Cobalt's vast Kwanza Basin portfolio, including our five discovered fields as well as our exploration prospects we have yet to drill."

    Sentiment: Strong Buy

 
CIE
10.26+0.01(+0.10%)May 22 4:03 PMEDT