Angola: Cobalt cuts ties with partners after SEC approach

Houston-based Cobalt International Energy has cut ties with its Angolan partners after the latest approach from the US Securities and Exchange Commission (SEC). The SEC issued Cobalt with a ‘Wells notice’ in early August in relation to its operations in Angola, where it holds interests in blocks 9, 20 and 21. The SEC sends a Wells notice to companies or individuals when it is planning to bring charges against them, but it is neither a formal allegation nor a finding of wrongdoing.