The Angolan offshore pre-salt region compares to the Brazilian pre-salt as one of the most hoped-for offshore oil gushers of the next century. Cobalt hit the proverbial pay dirt, but given Angola's profile as one of the best places to speculate for future production growth, the Goldman Sachs-backed wildcat company may not be alone in benefiting from positive drilling results in Angola.
Cobalt's CEO Joseph Bryant, said in a release on Thursday night of the Angola results: "Cameia is an extraordinary success. The results have exceeded our pre-drill expectations and have increased our confidence in our entire West Africa Pre-salt exploration inventory. We will immediately commence our Cameia appraisal program."
The Cobalt drilling results weren't a complete surprise. The stock
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