Kosmos Energy Announces Rig Share Agreement for Exploration Program

  Kosmos Energy Announces Rig Share Agreement for Exploration Program

Business Wire

DALLAS -- January 2, 2014

Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today that it has entered
into a one well rig share agreement with BP plc (LSE: BP) (NYSE: BP) and
Maersk Drilling, a unit of A.P. Moller - Maersk Group (CO: MAERSK), for the
rig Maersk Discoverer. The rig is expected to commence drilling operations on
the FA-1 (formally Eagle-1) exploration well in the Foum Assaka Offshore block
in Morocco during the first half of 2014. Under the terms of the Agadir
farm-out agreement with BP announced in October, BP will fund Kosmos’ share of
the well costs, subject to an agreed maximum spend.

Constructed in 2009, the Maersk Discoverer is a sixth generation,
ultra-deepwater, dynamically positioned semi-submersible rig capable of
drilling to total depths of up to 30,000 feet, and operating in water depths
of up to 10,000 feet.

Darrell McKenna, chief operating officer, said, “We are pleased to have
finalized the rig share agreement with BP and Maersk Drilling for this highly
capable and efficient rig, currently working in the Mediterranean region. In
conjunction with our long-term rig agreement for the Atwood Achiever, we have
secured the required rig resources to execute on our exploration program
beginning in 2014. Based on the current schedule, we expect to spud the FA-1
well in the first half of the year and anticipate operations will take
approximately three months to complete.”

About Kosmos Energy

Kosmos Energy is a leading independent oil and gas exploration and production
company focused on frontier and emerging areas along the Atlantic Margin. The
Company’s asset portfolio includes existing production and other major
development projects offshore Ghana, as well as exploration licenses with
significant hydrocarbon potential offshore Ireland, Mauritania, Morocco
(including Western Sahara) and Suriname. As an ethical and transparent
company, Kosmos is committed to doing things the right way. The Company’s
Business Principles articulate our commitment to transparency, ethics, human
rights, safety and the environment. Read more about this commitment in the
Kosmos 2012 Corporate Responsibility Report. Kosmos is listed on the New York
Stock Exchange and is traded under the ticker symbol KOS. For additional
information, visit www.kosmosenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section27A of the Securities Act of 1933 and Section21E of the Securities
Exchange Act of 1934. All statements, other than statements of historical
facts, included in this press release that address activities, events or
developments that Kosmos expects, believes or anticipates will or may occur in
the future are forward-looking statements. Kosmos’s estimates and
forward-looking statements are mainly based on its current expectations and
estimates of future events and trends, which affect or may affect its
businesses and operations. Although Kosmos believes that these estimates and
forward-looking statements are based upon reasonable assumptions, they are
subject to several risks and uncertainties and are made in light of
information currently available to Kosmos. When used in this press release,
the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other
similar words are intended to identify forward-looking statements. Such
statements are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of Kosmos, which may cause actual results
to differ materially from those implied or expressed by the forward-looking
statements. Further information on such assumptions, risks and uncertainties
is available in Kosmos’s Securities and Exchange Commission (“SEC”) filings.
Kosmos undertakes no obligation and does not intend to update or correct these
forward-looking statements to reflect events or circumstances occurring after
the date of this press release, except as required by applicable law. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement.


Kosmos Energy Ltd.
Investor Relations
Jon Cappon, +1-214-445-9669
Media Relations
Thomas Golembeski, +1-214-445-9674
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