Investor Presentation NYSE: KOS December 2014 Strictly Private and Confidential
Key Messages The Right People Track Record: Contrarian thinkers who are serial oil finders with a proven track record of deepwater exploration success The Right Strategy Discipline and Diligence: Identifying and accessing strategic…
The Challenge Recent lack of international deepwater success and the steady growth of U.S. shale have driven investors to the North American unconventional sector Current view of unconventionals: Low geologic risk Acceptable returns…
The Opportunity Kosmos focuses on the lowest portion of the deepwater cost curve to create differentiated value Deepwater exploration can deliver sustained, industry-leading returns Kosmos Second Inning breakevens in 40-60/bbl range…
How is Kosmos Differentiated Proven and repeatable business model targeting high-volume, high-value barrels 1ST INNING Focused Strategy GEOGRAPHY GLOBAL OIL / GAS TARGETED / OIL 2ND INNING Identify and capture high-volume BASINS…
Contrarian Perspective Disciplined exploration has positioned Kosmos to benefit from Industry failure Industry Perspective: Activity in the Atlantic Margin increased 1 significantly post pre-salt and Cretaceous discoveries (Brazil &…
First Inning Exploration Success Ghana Success in Ghana resulted from a well-executed exploration strategy Focused on West Africa Transform Margin Cretaceous play Opened Tano Basin petroleum system offshore Ghana Drilled 5 basin /…
Ghana Asset Growth Ghana expected to deliver over 200 MBopd of production (gross) providing continued reserves, production and cash flow growth Growing Production Jubilee FPSO debottlenecking (120 MBopd) Greater Jubilee (including…
Self-Funded Explorer Unique business model enables us to execute our strategy and provides a competitive advantage Strong cash flow generation from Jubilee Significant cash margin due to first mover advantage Disciplined financial…
Exploration Second Inning Strategy being successfully executed to create an expanded Second Inning portfolio with substantial hydrocarbon potential Exported the core Cretaceous theme along the Atlantic Margin Established an…
Near-Term Transformational Catalysts Poised to drill 4 play opening wells over the next 18 months to test over 4 BBoe gross resource which, on success, would de-risk an additional 18 BBoe of identified, follow-on potential Play Opening…
Western Sahara Aaiun Basin 1+ BBoe Al Khayr Prospect scheduled to spud late this year using the Atwood Achiever drillship 22,000 km2 position captures undrilled, Cretaceous age delta (950 GOM blocks) 12+ BBoe potential in multiple…
Mauritania / Senegal Farm-out process underway ahead of two potential play-opening wells next year 45,000 km2 contiguous position captures multiple undrilled, Cretaceous age, petroleum systems 8+ BBoe potential in multiple plays /…
Mauritania / Senegal Key Prospects Two high potential prospects with AVO support to be tested in 2015 Tortue Prospect 2.1BBoe Orca Prospect 0.3BBoe Cretaceous age fan with AVO support Stacked, Cretaceous age channel with AVO support…
Suriname Guyana Basin 3D seismic complete and farm-out in process ahead of a potential basin / play-opening well 11,000 km2 position captures undrilled, Cretaceous-age, outboard Guyana petroleum system (475 GOM blocks) 1+ BBoe…
The Right Time Kosmos is poised for transformational value creation with a growing production base, large Second Inning exploration portfolio, strong balance sheet, and active play-opening drilling schedule 2012 2013 1H 2014 Next 18…
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