Cobalt International Energy, a deepwater oil exploration company that explores off the Gulf Coast reported Friday morning that it hit a monster well. The flow rate of the well was in excess of 20,000bopd. Deutsche Bank and Morgan Stanley raised price targets substantially. The upside potential in CIE is limitless as the Angola property seems to be de risked. Vaalco Energy, another oil giant owns property in the Angola region. CIE is an attractive takeover candidate In my opinion.Friday morning CIE stock is now trading above the $35 level (up 50%) and seems to be gaining strength as the morning progresses. CIE stock and option volume is trading well above average volume.
