Kosmos Energy says that the company's Banda-1 exploration well has discovered oil offshore the Republic of Ghana on the West Cape Three Points Block. The results of drilling, wireline logs and reservoir fluid samples show the Banda-1 well penetrated net oil-bearing pay of 3 meters (10 feet). Oil samples recovered from the Cenomanian-age reservoir indicate oil of approximately 40 degrees API gravity.

The Banda-1 discovery opens a new play fairway not previously encountered on the West Cape Three Points Block or adjacent Deepwater Tano Block. The Paradise-1 exploration well, recently drilled by Hess Corporation (NYSE: HES), successfully penetrated a hydrocarbon-bearing, equivalent-age reservoir. The Paradise-1 well is located 32 kilometers (km) (20 miles) southwest of the Banda-1 well location. The Banda-1 well also was designed to test the Upper Campanian interval, which was water bearing. Additional technical evaluation will be required to analyze the impact and extent of this new play discovery, which is deeper than existing Campanian and Turonian discoveries on Kosmos' Ghana blocks.

The "Atwood Hunter" semi-submersible rig drilled the Banda-1 well in a water depth of 921 meters (3,021 feet) to a total depth of 4,580 meters (15,022 feet) in the eastern portion of the West Cape Three Points Block. The well is located 28 km (17 miles) east of Kosmos' Mahogany-1 exploration well that discovered the Jubilee oil field in 2007.

West Cape Three Points Block Ownership Interest 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 has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and Ghana National Petroleum Corporation has a 10% carried interest

Tags: Kosmos Energy