Kosmos Energy`s Hyedua-2 Appraisal Well Flows 16,750 Barrels of Oil Per Day During Successful Drillstem Test Offshore Ghana
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Favorable Results Further Confirm Jubilee Oil Field`s Productivity DALLAS--(Business Wire)-- Kosmos Energy announces today that the Hyedua-2 appraisal well offshore the Republic of Ghana on the Deepwater Tano Block in the Jubilee Field flowed at a maximum stable flow rate of 16,750 barrels of oil per day (bopd) of 37-degree API gravity crude and approximately 21 million cubic feet per day of associated natural gas during a successful drillstem test. The well confirms a significant extension of the Jubilee Field to the northwest. The test encompassed a single 41-meter zone within the well`s 55 meters of oil-bearing pay with the flow rate limited by equipment and facilities. The Hyedua-2 drillstem test was conducted on an 88/64-inch choke with a flowing tubing pressure of 1,387 pounds per square inch. The Hyedua-2 well is the second Jubilee Field appraisal well that has been successfully flow tested. "The Hyedua-2 well`s extremely favorable test results, which indicate future deliverability of more than 20,000 bopd, further substantiate that the Jubilee Field reservoirs are highly productive, continuous and connected," said James C. Musselman, Kosmos Chairman and Chief Executive Officer. The Hyedua-2 well was drilled on the Deepwater Tano Block in 3,663 meters of water by the "Blackford Dolphin" semi-submersible rig in water depths of 1,246 meters approximately 5 kilometers northwest of the Jubilee Field`s Mahogany-1 discovery well on the adjacent West Cape Three Points Block. The Hyedua-2 well has been suspended for completion later as a Jubilee Field production well. The "Blackford Dolphin" is being moved to a new location to drill a Jubilee development well before performing a drillstem test on the Mahogany-1 well. In the first quarter of 2009 on the Deepwater Tano Block, Kosmos and its partners plan to spud the Tweneboa prospect, which is potentially similar in size to the Jubilee Field. In addition, the Jubilee Field unit partners will move ahead in 2009 with additional exploration, development and appraisal drilling in the area, including the Teak prospect. Deepwater Tano Block Kosmos holds an 18% interest in the Deepwater Tano Block. An affiliate of Tullow Oil plc (LSE: TWL.L) operates the block with a 49.95% interest. An affiliate of Anadarko Petroleum Corporation (NYSE: APC) has an 18% interest; Sabre Oil & Gas has a 4.05% interest; and Ghana National Petroleum Corporation (GNPC) has a 10% carried interest in the project. West Cape Three Points Block Kosmos Energy is operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation (NYSE: APC) has a 30.875% interest; an affiliate of Tullow Oil plc (LSE: TWL.L) has a 22.896% interest; the E.O. Group has a 3.5% interest; and Sabre Oil and Gas has a 1.854% interest in the block. 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. Kosmos Energy W. Greg Dunlevy, +1-972-739-7700 Copyright Business Wire 2009
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