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Press release from Business Wire

Cobalt International Energy, Inc. Releases Updated Investor Presentation and Reserve and Resource Appraisal Reports

Tuesday, February 08, 2011

Cobalt International Energy, Inc. Releases Updated Investor Presentation and Reserve and Resource Appraisal Reports07:00 EST Tuesday, February 08, 2011 HOUSTON (Business Wire) -- Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today released an updated Investor Presentation as well as Appraisal Reports prepared by DeGolyer and MacNaughton, an independent petroleum consulting firm. The Appraisal Reports cover Cobalt's reserves, contingent resources and prospective resources in the deepwater of the U.S. Gulf of Mexico and offshore Angola and Gabon. Both the Investor Presentation and the Appraisal Reports, as well as a Cobalt prepared summary of those Appraisal Reports, will be available on Cobalt's website in the Investors-Presentation and Publications section. About Cobalt Cobalt is an independent oil exploration and production company focusing on the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon. Cobalt was formed in 2005 and is headquartered in Houston, Texas. Forward Looking Statements This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 — that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. 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. Cobalt undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Cobalt International Energy, Inc.Investor Relations:John P. Wilkirson, +1 713-452-2322Chief Financial OfficerorMedia Relations:Lynne L. Hackedorn, +1 713-579-9115Vice President, Government, Public Affairs, Land