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Abstract
Cobalt International Energy Inc's North Platte #1 Gulf of Mexico deepwater discovery success transformed the Inboard Lower Tertiary from an emerging trend into a major industry objective. Its vast potential, some 3 billion barrels of recoverable oil in multiple structures on Cobalt's acreage, has earned Oil and Gas Investor's Best Discovery award for 2012. Cobalt is following up on the North Platte discovery currently with the Ensco 8503 drilling an exploratory well on a three-way enclosure on the Ardennes prospect 28 miles northeast of Shenandoah, which will test both Miocene and Inboard Lower Tertiary targets. Cobalt, which is operator at 42% with partners ConocoPhillips at 30% and Total at 28%, will follow the Ardennes well with the Aegean exploratory well later this year, approximately 21 miles southwest of the North Platte discovery. The company is acquiring another generation of seismic over North Platte in 2013 and will develop appraisal plans thereafter.