Well Encounters Thick Water-Bearing Sands
DALLAS - Saturday, July 16th 2011 [ME NewsWire]
(BUSINESS WIRE)--Kosmos Energy (NYSE: KOS) announces today that the company’s 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” semi-submersible 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.
About Kosmos Energy
Kosmos Energy Ltd. (NYSE: KOS) is an international oil and gas exploration and production company focused on underexplored regions in Africa. The company’s asset portfolio includes major discoveries and exploration prospects with significant hydrocarbon potential in several West African countries. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
Except for the historical information contained herein, the matters set forth in this news release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.The company intends that all such statements be subject to the “safe-harbor” provisions of those Acts. Many important risks, factors and conditions may cause the company’s actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates or forecasts of reserves, estimates or forecasts of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of the company to obtain additional capital, and other risks and uncertainties described in the company’s filings with the Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Kosmos Energy Ltd.
Investor Relations
Neal Shah, +1-214-445-9680
C. Bell & Associates, Inc.
Media Relations
Crystal “Chris” Bell, +1-214-324-2095
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