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Press release from Business Wire

Cobalt International Energy, Inc. Prices Secondary Public Offering of Common Stock

Wednesday, May 08, 2013

Cobalt International Energy, Inc. Prices Secondary Public Offering of Common Stock

09:15 EDT Wednesday, May 08, 2013

HOUSTON (Business Wire) -- Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced the pricing of a previously announced registered underwritten public offering of 50,000,000 shares of its common stock, all of which will be sold by selling stockholders that are affiliates of First Reserve, Goldman, Sachs & Co., Riverstone Holdings LLC, The Carlyle Group, and KERN Partners Ltd, at an initial price per share to the public of $26.80. The underwriter of this offering has been granted an option, exercisable within 30 days, to purchase up to an additional 7,500,000 shares of common stock from certain of the selling stockholders on the same terms and conditions. Cobalt will not receive any of the proceeds from the sale of the shares of common stock.

Cobalt expects the offering to close on May 10, 2013, subject to satisfaction of customary closing conditions.

Citigroup is acting as the underwriter of the offering.

The offering is being made pursuant to an effective shelf registration statement, including a prospectus and a prospectus supplement relating to the offering, filed by Cobalt with the Securities and Exchange Commission (“SEC”). When available, copies of the prospectus and the prospectus supplement relating to the offering may be obtained for free by visiting the SEC website at www.sec.gov. Alternatively, copies of the prospectus and the preliminary prospectus supplement may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: 800-831-9146 or email: batprospectusdept@citi.com).

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement.

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 in West Africa. 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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 — 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 Cobalt's 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, other than as required by law. 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.

Investor Relations:
Richard A. Smith, +1-713-579-9141
Vice President, Investor Relations, Compliance and Risk Management
Media Relations:
Lynne L. Hackedorn, +1-713-579-9115
Vice President, Government and Public Affairs

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