MARKET WATCH
DALLAS, Jul 18, 2012 (BUSINESS WIRE) — Kosmos Energy KOS +4.33%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 atwww.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, +1-214-445-9772bwhitmarsh@kosmosenergy.com
Copyright Business Wire 2012
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