Kosmos Energy Announces Oil & Gas - Condensate Discovery At Wawa

Kosmos Energy announced on Wednesday that the Wawa-1 exploration well, drilled in the Deepwater Tano Block offshore Ghana, has intersected oil and gas-condensate in a Turonian-aged turbidite channel system. The Wawa-1 well encountered 20 meters (65 feet) of gas-condensate pay and 13 meters (42 feet) of oil pay in turbidite sands. Fluid samples indicate the oil to be good quality, between 38 and 44 degrees API. The well was drilled 10 kilometers (over six miles) north of the Enyenra-3A well, and pressure data shows that it is a separate accumulation from the TEN fields (Tweneboa, Enyenra, and Ntomme). The Atwood Hunter rig drilled Wawa-1 to a final depth of 3,322 meters (10,899 feet) in a water depth of 587 meters (1,926 feet). The well is currently being suspended for possible future use in appraisal and development operations. Paul Dailly, Senior VP of Exploration, stated, "Success at Wawa continues the strong exploration results for our partnership offshore Ghana and extends the area of discovered resources on Deepwater Tano. We look forward to the remainder of our meaningful 2012 exploration campaign in Ghana, which includes the Okure and Sapele prospects. At the same time, we are also preparing to spud our first operated well in Cameroon at the Sipo prospect by the end of the year, and we are aggressively pursuing significant exploration opportunities in our positions offshore Morocco, Suriname, and Mauritania." Kosmos Energy 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).