North Platte targets Lower Tertiary horizons and is located in Garden Banks blocks 915, 916, 958, 959 and 960. Negotiations are currently in progress to secure a drilling rig to drill this well.Cobalt is the operator of North Platte and has a 60% working interest in the prospect. 2010 Capital Program Cobalt's Board of Directors has approved a 2010 capital program of 0 million.This prospect lies within the Tahiti Basin approximately six miles northeast of the Heidelberg discovery.Anticipated North Platte Spud Date The next Cobalt-operated exploratory well in Cobalt's 2010 drilling program, North Platte #1, is scheduled to spud in the second quarter of 2010.
Providence said on Thursday, November 24 the company has signed a contract for the provision of a harsh environment deepwater mobile drilling rig with Stena Drillmax Ice Limited, a wholly owned subsidiary of Stena International, for the Stena Ice MAX drillship.During this period he was involved with the development and operation of BP's business in North America, Europe, South America, West Africa and Russia. Jack's industry experience will be a tremendous asset to Cobalt as we execute our business plan." About Cobalt Cobalt is an independent oil exploration and production company focusing on the deepwater U. 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.Criollo Well Results Cobalt today announced that it reached a planned total depth of 31,145 feet TVD in the Criollo prospect exploration sidetrack well, and is in the process of suspending operations on the well.The Green Canyon 685 #1 Sidetrack is located in approximately 4,200 feet of water.