DALLAS--(BUSINESS WIRE)--Jul. 18, 2012--
Kosmos
Energy (NYSE: KOS) announced today that the Wawa-1 exploration well,
drilled in the Deepwater Tano Block offshore Ghana, has intersected oil
and gas-condensate in a Turonian-aged turbidite channel system. The
Wawa-1 well encountered 20 meters (65 feet) of gas-condensate pay and 13
meters (42 feet) of oil pay in turbidite sands. Fluid samples indicate
the oil to be good quality, between 38 and 44 degrees API.
The well was drilled 10 kilometers (over six miles) north of the
Enyenra-3A well, and pressure data shows that it is a separate
accumulation from the TEN fields (Tweneboa, Enyenra, and Ntomme). The
Atwood Hunter rig drilled Wawa-1 to a final depth of 3,322 meters
(10,899 feet) in a water depth of 587 meters (1,926 feet). The well is
currently being suspended for possible future use in appraisal and
development operations.
Paul Dailly, Senior VP of Exploration, stated, “Success at Wawa
continues the strong exploration results for our partnership offshore
Ghana and extends the area of discovered resources on Deepwater Tano. We
look forward to the remainder of our meaningful 2012 exploration
campaign in Ghana, which includes the Okure and Sapele prospects. At the
same time, we are also preparing to spud our first operated well in
Cameroon at the Sipo prospect by the end of the year, and we are
aggressively pursuing significant exploration opportunities in our
positions offshore Morocco, Suriname, and Mauritania.”
Kosmos Energy holds an 18 percent interest in the Deepwater Tano Block
offshore Ghana. The Company’s partners include Tullow Oil plc (49.95
percent), Anadarko Petroleum Corporation (18 percent), Sabre Oil & Gas
Holdings Ltd. (4.05 percent), and the Ghana National Petroleum
Corporation (10 percent carried).
About Kosmos Energy
Kosmos Energy is a leading independent oil and gas exploration and
production company focused on frontier and emerging areas in Africa and
South America. The Company’s asset portfolio includes existing
production, major discoveries and exploration prospects offshore Ghana,
as well as exploration licenses with significant hydrocarbon potential
offshore Mauritania, Morocco and Suriname and onshore Cameroon. Kosmos
is listed on the New York Stock Exchange and is traded under the ticker
symbol KOS. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the Company expects,
believes or anticipates will or may occur in the future are
forward-looking statements. The Company’s estimates and
forward-looking statements are mainly based on its current expectations
and estimates of future events and trends, which affect or may affect
its businesses and operations. Although the Company believes that these
estimates and forward-looking statements are based upon reasonable
assumptions, they are subject to several risks and uncertainties and are
made in light of information currently available to the Company. When
used in this press release, the words “anticipate,” “believe,” “intend,”
“expect,” “plan,” “will” or other similar words are intended to identify
forward-looking statements. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company, which may cause actual results to differ
materially from those implied or expressed by the forward-looking
statements. Further information on such assumptions, risks and
uncertainties is available in the Company’s Securities and Exchange
Commission (“SEC”) filings. The Company’s SEC filings are
available on the Company’s website at www.kosmosenergy.com.
Kosmos undertakes no obligation and does not intend to update or
correct these forward-looking statements to reflect events or
circumstances occurring after the date of this press release, except as
required by applicable 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.
Source: Kosmos Energy
Kosmos Energy
Investor Relations
Brad Whitmarsh,
+1-214-445-9772
bwhitmarsh@kosmosenergy.com
