Kosmos Energy Acquires 35% Stake in Kombe-N'sepe Block Onshore Cameroon
Kosmos Energy has acquired a 35% working interest in the Kombe-N'sepe Block onshore the Republic of Cameroon through its wholly owned affiliate Kosmos Energy Cameroon.
The Kombe-N'sepe Block comprises 3,026 square kilometers (748,000 acres) and is located along the coastal strip of the Douala Basin. The block extends more than 100 kilometers (60 miles) south of the city of Douala.
Kosmos' partners on the block are Perenco, operator of the project with a 40% working interest, and Societe Nationale des Hydrocarbures (SNH), the national oil company of Cameroon, with a 25% working interest.
Previous drilling in the vicinity of the Kombe-N'sepe Block has confirmed the presence of a working petroleum system. Perenco will soon appraise its M'Via oil discovery, which is located on acreage adjacent to the block.
Kosmos and its partners plan to conduct a 2D seismic survey in late 2006 as part of the multi-year exploration and exploitation agreement. After processing and interpreting the seismic data, the partners plan to drill an exploratory well.
"This acreage represents Kosmos' entree into Cameroon and offers us the chance to target high-impact exploration opportunities. We will pursue the underexplored northern extension of the late Cretaceous turbidite play, which has proven to be successful from southern Cameroon to Gabon," said James C. Musselman, Kosmos Chairman and Chief Executive Officer.
"We look forward to working with our partners in the block,
Perenco and SNH. Both companies have solid technical expertise and
superior commercial abilities in West Africa. We anticipate developing
a long-term working relationship with our host government, the
Republic of Cameroon," Musselman added.
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