Kosmos Energy Announces Further Appraisal Success at Enyenra Oil Field Offshore Ghana
DALLAS--(BUSINESS WIRE)--Mar. 16, 2012-- Kosmos Energy (NYSE: KOS) announced today that the Enyenra-4A appraisal well, located in the Deepwater Tano Block offshore Ghana, has successfully encountered substantial light oil in multiple good quality reservoirs. Full analysis of well results, including wireline logs, fluid samples and reservoir pressures, indicate that the Enyenra-4A well encountered 32 meters (105 feet) of net oil pay.
The well is located approximately 7 kilometers (4.3 miles) south of the Enyenra-2A well and nearly 21 kilometers (13 miles) south of Enyenra-3A. Pressure data from the well demonstrates that the oil is in static communication with the other wells, indicating a continuous oil column of approximately 600 meters (1,970 feet).
Darrell McKenna, Chief Operating Officer, stated, "The Enyenra-4A well was a very positive result for Kosmos, as we confirmed a significant downdip extension of the field and encountered more net pay at this location than our pre drill expectations. We have now proved static communication in the reservoirs over 13 miles apart. Additional appraisal activities at the field will include the monitoring of pressure gauges, which have been deployed in multiple wells to determine dynamic communication. Success at Enyenra-4A further enhances the momentum behind our drive in submission of a plan of development."
The Ocean Olympia rig drilled Enyenra-4A to a total depth of 4,174 meters (13,695 feet) in water of 1,878 meters (6,160 feet). Prior to submitting a plan of development for the Tweneboa, Enyenra, and Ntomme project, which is expected in the third quarter of 2012, a drill stem test of the oil zone at the Ntomme-2A well on the Deepwater Tano Block will be performed. Injectivity tests are currently underway at Enyenra-4A to provide important information for the design of the water injection system.
Kosmos Energy currently 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). Kosmos Energy recently exercised a right to acquire the interest of Sabre Oil & Gas Holdings Ltd. in the Deepwater Tano Block. After closing of the transaction, the Company's interest will increase to 22.05 percent.
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 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.
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 at www.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
Brad Whitmarsh, +1-214-445-9772