DALLAS, Texas, December 8, 2009 - Kosmos Energy announces today that the Odum-2 appraisal well confirmed the company's Odum oil discovery made in early 2008 offshore the Republic of Ghana on the West Cape Three Points Block. The results of drilling, wireline logs and reservoir fluid samples show the Odum-2 well penetrated net hydrocarbon-bearing pay of 20 meters (66 feet) in high-quality stacked sandstone reservoirs over a gross interval of 182 meters (597 feet). The well is about 4 kilometers (km) northeast of the Odum-1 well, which is approximately 18 km east of Kosmos' Mahogany-1 exploration well and the Jubilee oil field. Kosmos is operator of the West Cape Three Points Block.
The Odum-2 well encountered 20 meters (66 feet) of net oil pay in two intervals that appear to be in static pressure communication with the Odum-1 well. The Odum-2 well encountered an oil-water contact 58 meters (190 feet) below the lowest-known oil in the Odum-1 well, extending the known oil column beyond the deepest oil seen in the Odum-1. Reservoir fluid samples recovered indicate an oil gravity of approximately 18-19 degrees API. The Odum-2 well was drilled by the "Atwood Hunter" semi-submersible rig to a total depth of 2,506 meters (8,222 feet) in a water depth of 816 meters (2,677 feet).
"We are pleased that we have successfully confirmed the second of our four oil and gas discoveries to date offshore Ghana," said Brian F. Maxted, Kosmos Chief Operating Officer. "The Odum-2 well validates the upside potential of the Campanian play on the West Cape Three Points Block, which has been determined to be separate from the Jubilee Field play. We will continue to evaluate the well's results."
Kosmos has drilled nine consecutive successful exploration and appraisal wells offshore Ghana for a 100 percent success rate in the region.
Following the drilling of the Odum-2 well, the "Atwood Hunter" will be moved to the adjacent Deepwater Tano Block where it will drill the Tweneboa-2 appraisal well that will evaluate the most recent oil find made by Kosmos and its block partners in the area. Kosmos and its block partners are currently drilling the Mahogany Deep-2 appraisal well using the "Aban Abraham" drillship.
West Cape Three Points Block
Kosmos Energy is the 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: TLW) has a 22.896% interest; the EO Group has a 3.5% interest; Sabre Oil & Gas has a 1.854% interest; and GNPC has a 10% carried interest.
Deepwater Tano Block
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 has a 4.05% interest; and GNPC has a 10% carried interest.