Cobalt Energy +3.6% on Angola offshore discovery

|About: Cobalt International Energy... (CIE)|By:, SA News Editor

Cobalt Energy (CIE) +3.6% premarket on news of its first discovery in the Syn-rift interval in the Bicuar #1A Pre-salt deepwater exploratory well offshore Angola.

The well was successfully drilled to a measured depth of 5,739 meters and encountered ~180 ft. of net pay from multiple pre-salt intervals.

CIE says the Bicuar #1A well is especially significant because it is the first discovery of mobile hydrocarbons that have been tested in the deeper pre-salt Syn-rift reservoir; it is CIE's fourth deepwater pre-salt discovery offshore Angola.