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

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

Business Wire

HOUSTON -- January 16, 2013

Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced the
pricing of a previously announced registered underwritten public offering of
40,000,000 shares of its common stock, all of which will be sold by selling
stockholders. The underwriters of this offering have been granted an option,
exercisable within 30 days, to purchase up to an additional 6,000,000 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 January 18, 2013, subject to
satisfaction of customary closing conditions.

Morgan Stanley & Co. LLC and Citigroup are acting as the underwriters 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 Morgan Stanley & Co. LLC, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014,
by calling (866) 718-1649 or (917) 606-8474 or by emailing
prospectus@morganstanley.com and from Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (800)
831-9146.

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.

Contact:

Cobalt International Energy, Inc.
Investor Relations:
Richard A. Smith, +1 (713) 579-9141
Vice President, Investor Relations and Planning
or
Media Relations:
Lynne L. Hackedorn, +1 (713) 579-9115
Vice President, Government and Public Affairs
 
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