Cobalt removed from Best Ideas list at Morgan Stanley Morgan Stanley removed Cobalt from the Best Ideas list following lower than expected volumes for Lontra but said the company has several high-impact wells that can drive upside in 2014. Shares remain Overweight rated.
Cobalt confirms significant pre-salt discovery at its Lontra #1 well Cobalt International Energy confirmed that it has successfully tested its previously announced Lontra #1 Pre-salt discovery well in Block 20, offshore Angola. During the recently completed drill stem test, the Lontra well produced at a stabilized flow rate of 2,500 barrels per day of condensate and 39 million cubic feet per day of gas. The flow rates were significantly restricted by the surface test facilities on the SSV Catarina drilling rig.