Kosmos Energy Limited UPDATE ON DRILLING PROGRAM (0205Z)
12 December 2017 - 6:00PM
UK Regulatory
TIDMKOS
RNS Number : 0205Z
Kosmos Energy Limited
12 December 2017
KOSMOS ENERGY PROVIDES UPDATE ON EXPLORATION DRILLING PROGRAM
OFFSHORE MAURITANIA
DALLAS, Texas, December 12, 2017 - Kosmos Energy (NYSE/LSE: KOS)
announced today that it has completed drilling the Lamantin-1
exploration well located in Block C-12 offshore Mauritania in
approximately 2,200 meters of water.
Lamantin-1 was drilled to a total depth of 5,150 meters and was
designed to evaluate a previously untested Lower Campanian base of
slope fan supplied from the Nouakchott River system, trapped in a
combination structural-stratigraphic feature, and charged from
underlying, oil-prone Cenomanian/Turonian and Albian source rocks.
As interpreted from logs and samples collected during drilling and
wireline operations, our evaluation suggests the Campanian
reservoir objective was water bearing with some residual
hydrocarbons. We believe the prospect failed due to a lack of trap,
related to a combination of up-dip sand pinch-out and top/base seal
effectiveness. The well will now be plugged and abandoned and the
well results integrated into the ongoing evaluation of the
significant remaining prospectivity in Kosmos' large acreage
position.
Andrew G. Inglis, chairman and chief executive officer, said:
"We are still in the early stages of exploring this newly emerging
basin and our forward drilling program remains unchanged given the
independent nature of the prospects. The drillship will now proceed
as planned to test the independent Requin Tigre prospect offshore
Senegal, which will be followed by two high-impact oil tests
offshore Suriname in mid-2018."
The Requin Tigre prospect is a Cenomanian/Albian base of slope
fan supplied from the proven Senegal River system, and is located
approximately 150 kilometers offshore, 60 kilometers west of the
Tortue discovery, and 80 kilometers north of the Yakaar discovery
in approximately 3,100 meters of water. It is estimated that
drilling will take approximately sixty days.
Kosmos holds rights in the C-6, C-8, C-12, C-13, and C-18
contract areas under production sharing contracts with the
Government of Mauritania's Société Mauritanienne Des Hydrocarbures
et de Patrimoine Minier (SMHPM). The blocks range in water depth
between 100 and 3,000 meters, and have combined acreage of over
40,000 square kilometers gross. Kosmos is the exploration operator
of Block C-12 with 28 percent equity and is joined by its partners
BP (LSE: BP) (62 percent) and SMHPM (10 percent).
About Kosmos Energy
Kosmos is a leading independent oil and gas exploration and
production company focused on frontier and emerging areas along the
Atlantic Margin. Our assets include existing production and
development projects offshore Ghana and Equatorial Guinea, large
discoveries offshore Mauritania and Senegal, as well as exploration
licenses with significant hydrocarbon potential offshore Suriname,
Sao Tome and Principe, Equatorial Guinea, Morocco and Western
Sahara. As an ethical and transparent company, Kosmos is committed
to doing things the right way. The Company's Business Principles
articulate our commitment to transparency, ethics, human rights,
safety and the environment. Read more about this commitment in the
Kosmos 2016 Corporate Responsibility Report. Kosmos is listed on
the New York Stock Exchange and the London Stock Exchange 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 Kosmos
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Kosmos' 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 Kosmos
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 Kosmos. 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
Kosmos, 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 Kosmos' Securities and Exchange Commission ("SEC")
filings. 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.
Inside Information
This announcement contains inside information. The person
responsible for arranging the release of this announcement is Jamie
Buckland, Vice President, Investor Relations.
###
CONTACT:
Investor Relations
Jamie Buckland
+1-469-475-2687
jbuckland@kosmosenergy.com
Rhys Williams
+1-214-445-9693
rwilliams@kosmosenergy.com
Media Relations
Thomas Golembeski
+1-214-445-9674
tgolembeski@kosmosenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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