Kosmos increases interest in deepwater Jubilee field offshore Ghana

Offshore staff

DALLAS – Kosmos Energy (NYSE:KOS) has exercised a provision in the joint operating agreement to acquire Sabre Oil & Gas Holdings Ltd.’s participating interest offshore Ghana in the Deepwater Tano block.

This will boost Kosmos’ interest in Jubilee field from 24.1% to 25.8%. Kosmos’ interest in the block will rise from 18% to 22.05%. The cost is about $365 million plus a possible $45 million if certain performance milestones are met.

The transaction is expected to close in 2Q 2012, pending normal closing conditions and government approvals.

2/28/2012

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