Kosmos Energy Reports Successful Reservoir Appraisal in Ghana

Ghana Oil

DALLAS—- Kosmos Energy has announced that the company’s Mahogany-5 well has continued the successful appraisal of Jubilee-age reservoirs offshore the Republic of Ghana on the West Cape Three Points Block. The results of drilling, wireline logs and reservoir fluid samples show the Mahogany-5 appraisal well penetrated net hydrocarbon-bearing oil pay of 23 meters (75 feet) in good-quality sandstone reservoirs over a gross interval of 51 meters (167 feet).

Reservoir fluid samples recovered indicate oil gravities in the range of 28-32 degrees API, and pressure data from the well confirms reservoir communication with the Mahogany-4 well drilled previously.

Kosmos has successfully appraised the oil-bearing Jubilee-age reservoirs in an area known as Mahogany East, which is located immediately east of the Jubilee Field Unit on the West Cape Three Points Block. The Mahogany 5 well, in addition to the previously drilled Mahogany-3, Mahogany-4 and Mahogany Deep-2 wells, completes

the company’s planned appraisal of the Mahogany East Area.

Kosmos, operator of the West Cape Three Points Block, will continue geoscience and engineering studies and advanced preliminary development planning activities for the Mahogany East Area. In addition, the company continues ongoing geoscience and engineering studies of its Odum oil discovery.

“We are pleased that our program to delineate the Mahogany East Area has been successful,” said Brian F. Maxted, Kosmos Chief Operating Officer. “Importantly, we are confident the results of our appraisal program will lead to the submittal of a plan to the Ghanaian government for the development and production of this area.”

The Mahogany-5 well was drilled by the “Atwood Hunter” semi-submersible rig to a total depth of 3,988 meters (13,085 feet) in a water depth of 1,149 meters (3,770 feet). The well is located approximately 62 kilometers (km) offshore, about 7.3 km east southeast of the Mahogany-1 well, the Jubilee discovery well, about 1.8 km south of the Mahogany-4 well and about 2.4 km east northeast of the Mahogany-3 well.

The “Atwood Hunter” will leave Ghana to work for another operator following the drilling of the Mahogany-5 well. The rig will resume work for Kosmos in the fourth quarter of 2010 when the company and its partners plan to initiate a nine-month exploration and appraisal drilling program on the West Cape Three Points Block.

Kosmos Energy is the operator of the West Cape Three Points Block and holds a 30.875% block interest.

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.