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This does not include 7 million for letters of credit to cover Cobalt's Angolan work program which were previously approved by the Board of Directors.In the Gulf of Mexico, this program includes the commencement of three Cobalt-operated exploratory wells (North Platte, Aegean and Ligurian), three partner-operated exploratory wells (including Firefox) and one partner-operated appraisal well (Heidelberg #2).North Platte targets Lower Tertiary horizons and is located in Garden Banks blocks 915, 916, 958, 959 and 960. Negotiations are currently in progress to secure a drilling rig to drill this well.Cobalt is the operator of North Platte and has a 60% working interest in the prospect. 2010 Capital Program Cobalt's Board of Directors has approved a 2010 capital program of 0 million.Criollo Well Results Cobalt today announced that it reached a planned total depth of 31,145 feet TVD in the Criollo prospect exploration sidetrack well, and is in the process of suspending operations on the well.The Green Canyon 685 #1 Sidetrack is located in approximately 4,200 feet of water.220 kilometers off the south west coast of Ireland.

His initial term as Director is effective immediately and will expire at Cobalt's 2010 Annual Meeting of Stockholders, at which time he will be up for re-election. Golden has well-rounded expertise and experience in the global oil and gas industry. For much of his last decade with BP he served as Group Vice President - Exploration and Production. He is currently managing partner of Edgewater Energy Partners, a Texas-based consulting firm focused on the oil and gas industry, and a director of Atwood Oceanics, Inc., an international offshore drilling company. Golden has served as an advisor to Cobalt's Board of Directors. Bryant said, "Jack has played an important role as an advisor to the Board since early 2007 and we are fortunate that he has now joined the Board. Cobalt was formed in 2005 and is headquartered in Houston, Texas.All forward-looking statements are qualified in their entirety by this cautionary statement.Published in Oil Industry News on Thursday, 24 November 2016 Irish oil and gas exploration company Providence Resources has signed a contract for the Stena Ice MAX drillship to drill at the FEL 2/14 license off Ireland and set a spud date for summer 2017.Actual results and future events could differ materially from those anticipated in such statements.For further discussion of risks and uncertainties, individuals should refer to Cobalt's SEC filings.

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This prospect lies within the Tahiti Basin approximately six miles northeast of the Heidelberg discovery.