Akasa Well Sings for Kosmos Offshore Ghana

- Akasa Well Sings for Kosmos Offshore Ghana

Wednesday, August 24, 2011
Kosmos Energy Ltd.
by SubseaIQ

Kosmos announced a light oil discovery at the Akasa-1 exploration well on the West Cape Three Points Block offshore the Republic of Ghana. Full analysis of well results, including wireline logs, reservoir pressures and fluid samples, confirms that the well penetrated 33 meters (108 feet) of oil-bearing pay in four good-quality Turonian–aged sand packages. The Turonian reservoirs encountered are similar in age to those discovered at Jubilee and Mahogany East. Oil samples recovered from the Akasa-1 well indicate 38 degrees API gravity.

Paul Dailly, Senior Vice President of Exploration, commented, "The Akasa discovery is a great result for Kosmos Energy, and it continues our high exploration success rate offshore Ghana. With this find, we have enhanced our inventory of discovered resources, further supporting the appraisal and development programs in the Mahogany East and Teak areas."

Brian Maxted, President and CEO, added, "We are very pleased with the new oil discovery at Akasa. The Company's development portfolio, including ramping production at Jubilee, is well-defined and substantial, and our continued drilling success highlights the value of our exploration portfolio. We are focused on accelerating first production from these projects, as well as from our discoveries on the adjacent Deepwater Tano Block."

The Atwood Hunter rig drilled the Akasa-1 well to a total depth of 3,918 meters (12,854 feet) in 1,158 meters (3,798 feet) of water. The drilling rig will be released to another operator following final operations at Akasa-1. The Company and its partners' near-term drilling plans include the Cedrela exploration prospect, which is currently under Force Majeure discussions, and two appraisal wells at the Teak discovery on the West Cape Three Points Block. In addition, the Company and its partners plan to drill at least two appraisal wells at the Enyenra field on the adjacent Deepwater Tano Block offshore Ghana.

The Company also announced successful flow test rates at the Tweneboa discovery on the Deepwater Tano Block. At Tweneboa-4, the flow test resulted in sustained rates of approximately 3,500 barrels of condensate per day and 30 million cubic feet of natural gas per day. A drill stem test at the Tweneboa-2 well achieved flow rates of 6,500 barrels of oil per day and 5 million cubic feet of natural gas per day. The data from these tests is being used to optimize development plans for the Tweneboa/Enyenra complex.

West Cape Three Points Block Ownership Interest

Kosmos Energy is the operator of the West Cape Three Points Block with a 30.875% interest. Anadarko Petroleum Corporation has a 30.875% interest, Tullow Oil plc has a 26.396% interest, Sabre Oil & Gas Holdings Limited has a 1.854% interest; and the Ghana National Petroleum Corporation has a 10% carried interest.

Deepwater Tano Block Ownership Interest

Kosmos Energy holds an 18% interest in the Deepwater Tano Block. Tullow Oil plc is the operator with a 49.95% interest. Anadarko Petroleum Corporation has an 18% interest, Sabre Oil & Gas Holdings Limited has a 4.05% interest, and the Ghana National Petroleum Corporation has a 10% carried interest.

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Kosmos to Boost Jubilee Production, Exploration Targets

- Kosmos to Boost Jubilee Production, Exploration Targets

Thursday, August 11, 2011
Kosmos Energy Ltd.

Kosmos announced financial and operating results for the second quarter ended June 30, 2011. The Company generated a net loss of $9.1 million in the second quarter of 2011, or $0.03 pro forma basic and diluted net loss per share attributable to common shareholders. This compares with a net loss of $32.5 million for the same period in 2010.

Second-quarter 2011 oil revenues were $124.1 million on sales of 996 thousand barrels of oil, or $124.62 per barrel. Jubilee Field average production for the quarter was approximately 66 thousand barrels of oil per day (bopd) gross. EBITDAX was $102.5 million for the second quarter of 2011, compared with $9.7 million for the second quarter of 2010.

The Company's cash on hand at the end of the second quarter grew to $818 million. Total liquidity, including cash and available borrowing under the existing debt facility was nearly $1 billion.

"Kosmos' recent initial public offering enhanced our strong financial foundation and provided additional capacity to continue accelerating the development and exploration of our assets. The commissioning of the Jubilee Field Phase 1 development is ongoing, with water and gas injection facilities now progressing well. We are seeing continued improvement in operating uptime, and field production is anticipated to further ramp up during the remainder of 2011. The Company's near-term outlook includes growing Jubilee production and a number of exploration and appraisal drilling targets. In addition, we are progressing our inventory of discoveries in Ghana, and our exploration team continues to enhance our overall portfolio with significant new areas," said Brian F. Maxted, President and Chief Executive Officer.

Operational Update

Ghana

Current gross production at the Jubilee Field is approximately 80 thousand bopd. With final commissioning of process and injection facilities, completion of the remaining wells and the sidetrack of an existing well, the Company is targeting production reaching the FPSO capacity around year-end 2011. Planning for the next phase of Jubilee Field development is underway, and Kosmos expects implementation to commence during 2012.

The Atwood Hunter semi-submersible rig is currently drilling the Akasa-1 exploration well on the Kosmos-operated West Cape Three Points Block. The Akasa-1 well is expected to reach final target by the end of August 2011. In addition, the Company plans to further appraise the Teak discovery with an initial two-well program, commencing as early as late 2011.

Appraisal activity to support development planning continues on the adjacent Deepwater Tano Block. Drillstem tests were recently performed on the Tweneboa-2 and Tweneboa-4 wells as part of an integrated reservoir evaluation program. Kosmos also anticipates drilling two additional appraisal wells in the Enyenra Field later this year.

Cameroon

Kosmos continues to perform an extensive technical evaluation of the Kombe N'sepe Block following initial drilling results. The Kombe N'sepe Block operator recently has exercised a contractual right for a six-month extension to the current exploration phase. The Company anticipates drilling the Liwenyi prospect on the Kosmos-operated N'dian River Block in 2012.

Morocco

The Company recently entered into two new petroleum agreements covering the Foum Assaka and Cap Boujdour areas offshore the Kingdom of Morocco. The Foum Assaka license covers approximately 1.6 million acres, and Kosmos will be the operator with a 37.5 percent working interest. The Cap Boujdour license agreement covers 7.3 million acres. Kosmos also will be the operator of the Cap Boujdour license with a 75 percent working interest.

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Kosmos Names VP of Investor Relations

- Kosmos Names VP of Investor Relations

Thursday, August 04, 2011
Kosmos Energy Ltd.

Kosmos announced that Brad Whitmarsh has joined the Company as Vice President of Investor Relations. Whitmarsh reports to W. Greg Dunlevy, Executive Vice President and Chief Financial Officer.

"We are excited to have Brad join our growing Kosmos team. His knowledge of the oil and gas industry, along with his proven success in establishing key relationships with the investment community, will be extremely beneficial as we build our investor relations program," said Dunlevy.

Prior to joining Kosmos, Whitmarsh was Manager of Investor Relations at Noble Energy, Inc. He also worked in multiple roles in Noble Energy's internal audit department. Whitmarsh earned a bachelor of business administration degree in accounting from Texas A&M University and is a certified public accountant licensed in the state of Texas.

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Kosmos' Makore-1 Well All Wet

- Kosmos' Makore-1 Well All Wet

Friday, July 15, 2011
Tullow Oil plc

Kosmos' Makore-1 exploration well on the West Cape Three Points Block offshore the Republic of Ghana encountered 37 meters (121 feet) of good-quality Campanian-age water-bearing sandstone reservoirs and 46 meters (151 feet) of good-quality Turonian-age water-bearing sandstone reservoirs. The Makore-1 well was Kosmos' first well in the southeastern portion of the block. The well explored a stratigraphic trap in a Turonian-age fan system.

The Makore-1 well is located 25 km (15 miles) southeast of the company's Mahogany-1 exploration well that discovered the Jubilee Field. The Atwood Hunter semisubmersible rig drilled the Makore-1 well in a water depth of 1,409 meters (4,623 feet) to a total depth of 3,876 meters (12,716 feet). The Atwood Hunter will remain on the block to drill the Akasa-1 exploration well, formerly known as the Dahoma Up-dip prospect. The Akasa-1 well is expected to be spudded shortly.

Kosmos is the operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and the Ghana National Petroleum Corporation has a 10% carried interest.

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Kosmos Seeks Force Majeure on Transocean Semisub

- Kosmos Seeks Force Majeure on Transocean Semisub

Thursday, July 07, 2011
Kosmos Energy Ltd.

Kosmos Energy provided an update on the company's drilling of the Cedrela-1 exploration well offshore the Republic of Ghana. The Transocean Marianas semisubmersible drilling rig, under contract to another operator in Ghana, was expected to arrive at the Cedrela-1 well location on the West Cape Three Points Block on or about July 10 to commence drilling Kosmos' Cedrela-1 well near the block's southern boundary. The rig was rendered temporarily inoperable following a reported anchor-handling incident on the Offshore Cape Three Points Block, which is east of the Kosmos-operated West Cape Three Points Block. The incident occurred while preparations were being made to move the rig from the other operator's block to the Cedrela-1 well location.

Kosmos has delivered a force majeure notice to the government of Ghana and the Ghana National Petroleum Corporation due to the delay in the rig's scheduled arrival at the Cedrela-1 well location. As a result, Kosmos has begun a search for a substitute drilling rig and intends to drill the Cedrela-1 well when either the Transocean Marianas or an alternative rig becomes available. The company has the necessary approvals to drill the Cedrela-1 well and anticipates that a rig will be available soon.

Kosmos is the operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and the Ghana National Petroleum Corporation has a 10% carried interest.

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Kosmos to Drill Additional Well Offshore Ghana

- Kosmos to Drill Additional Well Offshore Ghana

Tuesday, July 05, 2011
Kosmos Energy Ltd.

Kosmos provided an update on the company's operations in Ghana, Cameroon and Morocco.

Ghana

Kosmos will drill an additional well as part of its 2011 exploration campaign offshore the Republic of Ghana on the West Cape Three Points Block. The company has secured additional rig capacity on the Transocean Marianas semi-submersible rig to drill the Cedrela-1 well west of the Makore prospect near the block's southern boundary. The well will target multiple objectives that the company previously has encountered on the block and is located nine kilometers (km) (six miles) north of the Paradise-1 discovery well recently announced by Hess. Kosmos anticipates that the well will be spudded in the third quarter of 2011.

The Atwood Hunter semi-submersible rig currently is drilling the Makore-1 exploration well in the southern portion of the West Cape Three Points Block. The Makore-1 well is targeting Upper Cretaceous Turonian-age reservoirs similar to those encountered in Kosmos' Jubilee oil field. The Atwood Hunter will remain on the West Cape Three Points Block to drill the Akasa-1 well, formerly known as the Dahoma Up-dip prospect.

The drilling of the Cedrela-1 well will bring Kosmos' 2011 capital spending budget for Ghana to $430 million, $260 million of which will be spent on exploration and appraisal drilling.

Kosmos is the operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and Ghana National Petroleum Corporation has a 10% carried interest.

Cameroon

Kosmos reports that the company's N'gata-1 exploration well, recently drilled onshore Cameroon on the Kombe-N'sepe Block, encountered multiple reservoirs containing subcommercial quantities of natural gas. The results of drilling, wireline logs and reservoir fluid samples show the N'gata-1 well penetrated 44 meters (144 feet) of reservoir with 10 meters (33 feet) of net gas-bearing pay. An additional deeper thick sand interval with gas shows was encountered, but complete wireline logs were unable to be obtained over this target due to operational difficulties. The well has been plugged and abandoned. Kosmos has now completed its initial drilling program commitment on the Kombe-N'sepe Block. This program has demonstrated viable reservoirs and a working hydrocarbon system. Future technical evaluation will focus on identifying these play elements in areas of the block where liquid content and trap effectiveness may improve.

Kosmos Energy holds a 35% interest in the Kombe-N'sepe Block. Perenco operates the block with a 40% interest, and Société Nationale des Hydrocarbures (SNH) has a 25% interest in the block.

Morocco

Kosmos has entered into a petroleum agreement with the Office National des Hydrocarbures et des Mines (ONHYM), the national oil company of Morocco, covering the Foum Assaka area offshore the Kingdom of Morocco. The agreement will become effective upon publication of a ministerial order in accordance with Moroccan law. The Foum Assaka area, which covers approximately 6,500 square kilometers (1,606,179 acres), is located in the Atlantic Ocean's Agadir Basin about 43 kilometers (27 miles) west of the port city of Agadir and contains play elements similar to those seen in Kosmos' other West African acreage. Kosmos will be block operator and will have a 37.5% participating interest in the agreement. ONHYM will have a 25% interest that will be carried through the exploration phase, and Pathfinder Hydrocarbon Ventures Limited will hold the remaining 37.5% participating interest.

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Banda Well Sings for Kosmos Offshore Ghana

- Banda Well Sings for Kosmos Offshore Ghana

Monday, June 06, 2011
Kosmos Energy Ltd.

Kosmos announced that the company's Banda-1 exploration well has discovered oil offshore the Republic of Ghana on the West Cape Three Points Block. The results of drilling, wireline logs and reservoir fluid samples show the Banda-1 well penetrated net oil-bearing pay of 3 meters (10 feet). Oil samples recovered from the Cenomanian-age reservoir indicate oil of approximately 40 degrees API gravity.

The Banda-1 discovery opens a new play fairway not previously encountered on the West Cape Three Points Block or adjacent Deepwater Tano Block. The Paradise-1 exploration well, recently drilled by Hess, successfully penetrated a hydrocarbon-bearing, equivalent-age reservoir. The Paradise-1 well is located 32 kilometers (km) (20 miles) southwest of the Banda-1 well location. The Banda-1 well also was designed to test the Upper Campanian interval, which was water bearing. Additional technical evaluation will be required to analyze the impact and extent of this new play discovery, which is deeper than existing Campanian and Turonian discoveries on Kosmos' Ghana blocks.

The Atwood Hunter semi-submersible rig drilled the Banda-1 well in a water depth of 921 meters (3,021 feet) to a total depth of 4,580 meters (15,022 feet) in the eastern portion of the West Cape Three Points Block. The well is located 28 km (17 miles) east of Kosmos' Mahogany-1 exploration well that discovered the Jubilee oil field in 2007.

West Cape Three Points Block Ownership Interest

Kosmos Energy is the operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and Ghana National Petroleum Corporation has a 10% carried interest.

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Kosmos Hits Paydirt Offshore Ghana

Kosmos Hits Paydirt Offshore Ghana

Monday, March 28, 2011
Anadarko Petroleum Corp.
by  SubseaIQ

Anadarko announced a deepwater discovery at the Teak-2 prospect, located in the West Cape Three Points Block offshore Ghana. The Teak-2 exploration well encountered approximately 90 net feet of high-quality oil, condensate and natural gas pay in stacked
Campanian- and Turonian-age reservoirs.

"The Teak-2 discovery is another confirmation of our geologic model that adds to the substantial resource potential of the area and
extends the success of our multi-well exploration program on the West Cape Three Points Block," said Bob Daniels, Anadarko Sr. Vice
President, Worldwide Exploration. "We are very pleased with the results encountered in this discovery, which will be further evaluated with future appraisal activity. We continue to work with our partners and the Republic of Ghana to advance our exploration and appraisal programs, as well as the increasing number of development opportunities in both the West Cape Three Points Block and adjacent Deepwater Tano License."

The Teak-2 well was drilled using the Atwood Hunter rig to a total depth of 11,185 feet in water depths of approximately 2,900 feet. The well is approximately 5,900 feet southwest and fault separated from Teak-1, and approximately two miles northeast of the Mahogany-2 well. After preserving the well at Teak-2 for future use, the partnership plans to mobilize the rig to drill the Banda prospect, also located in the West Cape Three Points Block.

Anadarko owns a 30.875-percent working interest in the West Cape Three Points Block, which is operated by Kosmos Energy (30.875-percent working interest). Other co-owners in the block include Tullow Oil plc (22.896-percent working interest), the E.O. Group (3.5-percent working interest), Sabre Oil & Gas Holdings Ltd (1.854-percent working interest) and the Ghana National Petroleum Corporation (10-percent carried interest).