Goldman Sachs Reiterates Buy on Cobalt International Energy (CIE)
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Cobalt (CIE) Falls Following Drill Stem Test
April 18, 2013 4:39 PM EDTCobalt International Energy, Inc. (NYSE: CIE) today announced that its drill stem test of the lowest interval drilled in the Cameia #2 well in Block 21, offshore Angola, did not produce measurable hydrocarbons. The Cameia #2 drill stem test did however confirm the existence of a lower interval potentially capable of high flow rates across the basin. This interval had not previously been penetrated or tested in the Kwanza Basin.
The Cameia #2 well did confirm the presence of the same high quality hydrocarbon bearing mound reservoir that was penetrated by the original Cameia #1... More
