Annual Energy Conference Howard Weil March 2014 JON CAPPON Investor Relations 214.445.9669 jcapponkosmosenergy.com
What Differentiates Kosmos An asymmetric risk / reward opportunity Self-Funded Explorer World-Class Production / Development Asset in Ghana Same Team, Same Exploration Strategy, New Transformational Portfolio Morocco Coastline…
A Self-funded Explorer World-class, de-risked Jubilee field organically funds ongoing development and transformational exploration program Jubilee Production Long-life production plateau Significant production / reserve growth Low…
Executing the Second Inning Kosmos poised to potentially create substantial value Howard Weil March 2014 5
Ghana Discoveries Kosmos First Inning grand slam Opening the Tano Basin Architect of the basin-opening Jubilee discovery Eight proven hydrocarbon discovery areas High value barrels with 2+ to 4 BBO in place Secures Company as a…
Jubilee Field Summary A world-class, de-risked asset Field History Discovered in 2007 First oil late 2010 Phased development approach Produced over 87 MMBO at year-end 2013 Strong Reservoir and Field Performance 600+ MMBO…
Appraisal of Greater Jubilee High value barrels found in multiple discoveries to be tied back into Jubilee FPSO Multiple Discoveries Mahogany oil discovery Teak oil and gas condensate discovery Akasa oil discovery Refining Resource…
TEN Development Project Second major deepwater oil development project in Ghana TEN Project Summary Development of three discovery areas P50 Case 250 MMBO Second FPSO-based development in Ghana Additional gas development planned…
Proven Exploration Strategy Maximizing value by discovering and developing high volume, high value barrels Business Frontier and emerging basins New Ventures Ireland Mauritania Geography Suriname Atlantic Margin focus Geology…
Top Quartile Explorer Disciplined strategy allows us to operate efficiently and with high success First Inning Results Emerging / frontier basin petroleum system success rate was 1 in 5 in initial portfolio Exploration strategy and…
Kosmos Second Inning Capturing transformational exploration upside in a highly competitive environment Atlantic Margin Focus Export of core Cretaceous theme Latin America (Suriname) North Atlantic (Ireland) First-mover into Northwest…
Transformational Exploration Portfolio Significant opportunity through execution discipline and focused organic expansion 5x 6x 2x 3x Howard Weil March 2014 13
Supermajor Scale Portfolio Maturation of opportunities to the drilling stage Significant Exploration Upside Total gross recoverable resource Pmean of 30 BBoe un-risked (5 BBoe risked) Substantial follow-on potential in the event of…
Exploration Drilling Calendar Rig capacity secured to drill two to three new petroleum systems per year Atwood Achiever New-build 6th generation drillship Three year contract Initial well scheduled late 2014 Maersk Discoverer 6th…
Northwest Africa Portfolio Major acreage position offers several significant frontier basin opportunities Three Large Potential Petroleum Systems First-mover advantage Strategic positions of choice Competitive fiscal terms Offshore…
Successful Morocco Farm-out Farm-out results validate potential of Kosmos Moroccan portfolio Highly Successful Farm-out Initiative Among the best terms in West Africa Agadir Farm-out (KOS 30%) BP farmed into all three Agadir Basin…
Offshore Agadir Basin Petroleum System One of the last undrilled salt basins along the Atlantic Margin An Unexplored Salt Basin Salt-related structures similar to Gulf of Mexico Evidence of a working petroleum system Play diversity…
Foum Assaka Block FA-1 Well Eagle prospect is a large, salt-cored structure with significant resource potential FA-1 Summary - Pmean 360 MMBOE SW FA-1 NE Formally Eagle-1 well Drilling operations ongoing Targeting Lower Cretaceous…
Essaouira Block Boilers-1 Well Boilers prospect is a well-defined structure with multiple stacked objectives Boilers-1 Boilers-1 Summary - Pmean 465 MMBOE SW NE Test Upper / Lower Cretaceous interval Multiple, deepwater reservoir…
Offshore Aaiun Basin Petroleum System One of the last undrilled Cretaceous Basins along the South Atlantic Margin High Impact Exploration Potential Unexplored Cretaceous Delta Similar in size to the Niger Fan Evidence for a working…
Cap Boujdour Area CB-1 Well Gargaa prospect is a large, simple four-way anticline with AVO support CB-1 Well Summary - Pmean 1+ BBOE Targeting Lower Cretaceous deepwater reservoirs with AVO support Multiple, independent objectives…
Offshore Mauritania Petroleum System Second-cycle West Africa Transform Margin exploration opportunity Cretaceous-age Basin-Floor Fans Significant untested potential Down-dip of proven working petroleum system Structural and…
Suriname Guyana Petroleum System Expansion of our core geologic theme west across the Atlantic Key Position in a Proven Basin Down-dip of the producing Tambaredjo oil field 2D / 3D seismic acquired Seismic interpretation ongoing…
Ireland Porcupine Basin Exploring the North Atlantic with a South Atlantic perspective Premier Basin-flank Acreage Position FEL 1/13 Under-explored basin with existing nearby discoveries Up-dip of a working oil kitchen FEL 2/13…
Fully-Funded Financial Strategy Current financial strength of Kosmos is the best in our history Q1 2014 Total Liquidity 1.5 Billion Recently amended RBL increases total liquidity and extends the maturity date Stable Free Cash Flow…
Capital Expenditures Outlook Focused on continuing Ghana development and advancing our high impact drilling program 2014 Capital Program Summary Forecast at approximately 575mm Increased exploration activity planned Exploration…
De-risking Cash Flows Reducing oil price exposure through robust commodity hedging program Hedging Philosophy Significant forward production hedged Hedged Production (mmbbl) Reduces near-term cash flow volatility Adds capacity to debt…
Key Messages Moving forward Delivering Ghana Development / Production Asset Highly visible long-term reserves, production, and cash flow growth Focused on Second Inning Exploration A differentiated and proven exploration strategy…
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