Cobalt International Energy (CIE) provided additional data after the bell Thursday which confirmed the significance of its Cameia Pre-salt oil discovery in Block 21 offshore Angola. The results of a wire line evaluation program confirmed the presence of a 1,180 foot gross continuous oil column with over a 75% net to gross pay estimate.
Cobalt International Energy has gapped open dramatically higher Friday morning and is now up 10.79 at $34.69 on above average volume. The stock has been climbing for the past week and has jumped to another new high for the year.
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