GHANA; Another Major Oil Find

Kosmos Energy announces today that the Owo-1 exploration well and the Owo-1 sidetrack well have discovered a significant column of excellent-quality light oil offshore the Republic of Ghana on the Deepwater Tano Block. The sidetrack well was drilled 0.6 kilometers (km) (0.4 miles) to the east of the discovery well, which successfully intersected a deeper portion of the Owo channel system and confirmed that Owo is a significant new oil field.

Asia 728x90

The results of drilling, wireline logs and reservoir fluid samples show the Owo-1 exploration well penetrated net oil pay of 53 meters (174 feet) in two zones of high-quality stacked reservoir sandstones. The sidetrack well encountered a total net pay section of 35 meters (115 feet), including 16 meters (52 feet) of net oil pay in the lower part of the Owo channel system. Pressure data indicates that this oil pay is in communication with the reservoirs penetrated in the Owo-1 well, and a substantial gross oil column of 200 meters (656 feet) has been encountered between the two wells.

The Owo wells are located on the western portion of the Deepwater Tano Block adjacent to the Tweneboa discovery. This area now comprises the highly pressured light oil field at Owo and the neighboring major Tweneboa oil and gas-condensate field, also discovered by Kosmos and its partners. Beneath the oil pay, the Owo-1 sidetrack well also discovered 13 meters of net condensate pay and an additional 6 meters of gas pay in the deepest sand encountered. The two wells have encountered a combined gross hydrocarbon column of 273 meters (896 feet). All reservoirs are full to base, and no water was encountered in either well.

“The Owo wells have discovered and confirmed Kosmos’ fifth oil discovery on our Ghanaian acreage. This new success further de-risks our sizable remaining prospect portfolio on the West Cape Three Points and Deepwater Tano blocks, and we look forward to additional commercial success from our ongoing exploratory drilling program,” said Brian F. Maxted, Kosmos Chief Operating Officer. “We plan to appraise the Owo Field, as well as the adjacent Tweneboa Field, as we prepare for initial oil production from the Jubilee Field later this year.”

The “Sedco 702” dynamically positioned semi-submersible rig drilled both wells in a water depth of 1,428 meters (4,685 feet). The Owo-1 discovery well and the Owo-1 sidetrack well were drilled to total depths of 3,891 meters (12,766 feet) and 3,998 meters (13,117) feet, respectively. The Owo-1 discovery well is located approximately 60 km (37 miles) offshore and about 30 km (19 miles) west of the Jubilee Field. The Owo-1 sidetrack well will be suspended for future use following the completion of logging operations.

The “Sedco 702” rig will remain on the Deepwater Tano Block to drill the Onyina-1 exploration well that targets a large Campanian-age prospect between the Tweneboa and Jubilee oil fields. Kosmos discovered the Jubilee Field on the adjacent West Cape Three Points Block in 2007.

Deepwater Tano Block

Kosmos holds an 18% interest in the Deepwater Tano Block. An affiliate of Tullow Oil plc (UK:TLW 1,234, 0.00, 0.00%) operates the block with a 49.95% interest. An affiliate of Anadarko Petroleum Corporation (APC 52.91, +0.63, +1.21%) has an 18% interest; Sabre Oil & Gas Holdings Limited has a 4.05% interest; and Ghana National Petroleum Corporation (GNPC) has a 10% carried interest.

About Kosmos Energy:

Kosmos Energy is a privately held international oil exploration and production company with a focus in West Africa. Kosmos is led by a seasoned management and technical team with extensive international and West Africa experience, and a proven record of finding and developing significant oil reserves. With the financial backing of international private equity investors Warburg Pincus and Blackstone Capital Partners, the company possesses significant financial and operational capability to generate and participate in multiple high-impact upstream projects. For additional information, visit www.kosmosenergy.com.