Shares of Cobalt International Energy Inc. (NYSE:
CIE) saw a huge rally in trading on Friday after the Houston, Texas-based
company extended its Angola lease. Cobalt said in a regulatory filing that it
has extended its $360,000-a-day lease on Ocean Confidence rig by as much as two
weeks.
Cobalt International shares rose to an intra-day
high of $11.17. The stock ended the day 22.22% higher on above average volume.
The rally pushed Cobalt International Energy shares above their 50-day moving
average.
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