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Oil discovery off Angola boosts Cobalt

  February 12, 2012

Cobalt International Energy Inc., a deep-water oil explorer, said test results at a discovery off the coast of Angola exceeded the company’s expectations. Work at the Cameia-1 well confirmed a 1,180-foot oil column, the Houston-based company said. Cobalt and its partners will now begin to appraise the well to evaluate the discovery’s size, according to the statement. It may be several years before production is under way off Angola, Cobalt said.

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