Kosmos Energy Strikes Gas Condensate at Tweneboa-3 Well Offshore Ghana

Kosmos Energy announces today that the Tweneboa-3 appraisal well has encountered gas-condensate in high-quality sandstone reservoirs on the Deepwater Tano Block offshore the Republic of Ghana.

The results of drilling, wireline logs and reservoir fluid samples, in addition to the well’s downdip position, confirm the Greater Tweneboa Area resource base potential. The Greater Tweneboa Area comprises the Tweneboa-1 and Tweneboa-2 oil and gas-condensate fields and the neighboring Owo light oil field (renamed the Enyenra Field).

“We will now evaluate development options for the Tweneboa and Enyenra fields.”

The Tweneboa-3 well was drilled with two deviated boreholes to test separate areas of the Tweneboa Field. The first leg was drilled to calibrate the potential of an area that had a weak seismic response. This leg encountered approximately 9 meters (29 feet) of gas-condensate pay, which was in line with expected results. The well was then sidetracked 550 meters (1,808 feet) west, targeting an area of strong seismic response. This second leg encountered a gross vertical reservoir interval of approximately 65 meters (214 feet), penetrating net gas-condensate pay of 34 meters (112 feet) in high-quality stacked reservoir sandstones in two zones.

The Tweneboa-3 well is located 12 km (7.5 miles) southeast of the Tweneboa-1 discovery well. The Tweneboa-3 well was drilled by the “Deepwater Millennium” dynamically positioned drillship to a total depth of 3,906 meters (12,816 feet) in a water depth of 1,601 meters (5,253 feet). The well will be suspended for potential future use in field development once drilling operations have been completed. Subsequently, the drillship will remain on the Deepwater Tano Block to drill the top-hole section of the Tweneboa-4 appraisal well and suspend it. Then the drillship will drill the Enyenra-2A well, which will appraise the Owo-1 discovery well.

“The Tweneboa-3 well was a significant stepout well in a very large stratigraphic trap. Producible gas-condensate in high-quality reservoirs at this location gives us confidence in the Greater Tweneboa Area’s commercial potential,” said Brian F. Maxted, Kosmos President and Chief Executive Officer. “We will now evaluate development options for the Tweneboa and Enyenra fields.”

Deepwater Tano Block Ownership Interest

Kosmos holds an 18% interest in the Deepwater Tano Block. An affiliate of Tullow Oil plc (LSE: TLW) operates the block with a 49.95% interest. An affiliate of Anadarko Petroleum Corporation (NYSE: APC) has an 18% interest; Sabre Oil & Gas Holdings Limited has a 4.05% interest; and Ghana National Petroleum Corporation 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.

Source:Kosmos Energy, January  10, 2011;

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