Investor Presentation February 2013 BRAD WHITMARSH Investor Relations 214.445.9772 bwhitmarsh@kosmosenergy.com Strictly Private and Confidential
Compelling Value Proposition Asymmetric risk / reward opportunity • World-Class Assets in Ghana – Significant, de-risked and visible production and cash flow growth – Long-term production plateau with potential further growth at Jubilee – Oil-focused additional developments at TEN & MTA • High-Impact Exploration Portfolio – Large acreage positions with significant upside potential – Maturing prospectivity towards multi-year drilling program in frontier areas – Assessing new opportunities for additional “shots on goal” • Robust Financial Capacity – Substantial existing and growing cash flows from Jubilee – Strong position to internally fund operating programs, with over $1.1 billion in liquidity (1) • Proven Strategy of Finding and Exploiting New Petroleum Systems – Serial oil finders with excellent track record – Delivers superior results and generates outsized shareholder returns (1) Total liquidity reflects cash and cash equivalents plus availability under the Company’s credit facilities as of 12/31/12. February 2013 2 Investor Presentation
Proven and Disciplined Business Strategy Focus on high-volume, high- value petroleum systems February 2013 3 Investor Presentation
High Quality, Oil-Levered Portfolio Meaningful production growth with transformational upside • Ghana Asset - Tano Basin Petroleum System – West Africa Transform Margin Cretaceous play – Significant long-term production and de- risked growth profile – Substantial cash flow generator to fund investment programs • High - Impact Exploration Portfolio to Open New Petroleum Systems – Focus on Central and South Atlantic Margin themes / geographies – Maturing existing portfolio for near-term drilling – Capturing new opportunities – Target multiple basin-opening wells annually from as early as late 2013 February 2013 4 Investor Presentation
Ghana - Tano Basin Petroleum System Foundation of the Company and platform for future growth • World-class Jubilee Field – Producing approximately 110 MBpd, gross – Outstanding reservoir performance – Long-life production plateau – Debottlenecking opportunities to expand facility capacity • Other Developments Progressing – Submitted PoD for an FPSO at TEN – Optimizing plans for MTA discoveries – Deepwater Sapele currently drilling • Substantial Net Cash Generator – Capacity to fully fund Ghana growth – Protected by strong hedging positions February 2013 5 Investor Presentation
Jubilee Field World-class find and landmark development • Discovery Mid-2007, First Oil Late 2010 • Strong Reservoir and Field Performance – 600 MMBoe +, dependent on ultimate recovery – Successful acid stimulation program enhanced Phase 1 well deliverability – Implementing Phase 1A development • Field Deliverability Substantially Exceeds FPSO Limits – Identifying debottleneck opportunities to maximize oil throughput at FPSO • Long-life Production and Cash Flows – Supplemented by additional development phases at Jubilee and MTA February 2013 6 Investor Presentation
Greater Jubilee Area Potential Significant crude oil and natural gas found in multiple fields • Additional Appraisal Planned – Multiple reservoirs, pools distributed stratigraphically and geographically – Strong recent flow test rates at Akasa-1 • Optimizing Development Potential – Assessing multiple scenarios, optimal development likely tie-back to Jubilee – Discussing forward plan with the government • DwT Sapele Currently Drilling – 75 MMBoe mean resources – Results expected end of February 2013 February 2013 7 Investor Presentation
Second Major Offshore Project Defined production growth at Greater TEN area • Declared Commercial and Plan of Development Submitted – Initial focus on Enyenra and Ntomme oil – Pmean 360 MMBoe for TEN fields with approximately 70% oil • First Production Anticipated Approximately 3 Years From Project Sanction – Phased approach and early learnings, similar to Jubilee development – FPSO design and scoping completed February 2013 8 Investor Presentation
Opening the Next Major Petroleum System Expanding and optimizing portfolio of opportunities • Substantial Increase Since IPO – ~2X increase in gross acreage – First mover into NW Africa pre-salt (Morocco) – New entry into NE Latin America (Suriname) – Re-entry into West Africa Transform Margin (Mauritania) • Maturing Currently Captured, High- Impact Program – Equivalent to over 4,200 GOM blocks in size – Multiple tests annually beginning as early as late 2013 • New Ventures Targeting Additional Opportunities – Identification and evaluation of basins with significant hydrocarbon potential February 2013 9 Investor Presentation
Opening the Next Major Petroleum System Driven by technical strengths and core competencies • Focused and Disciplined Exploration Targeted Petroleum System Tests Over 5 Year Period Strategy – Proven track record of delivering value through drill-bit success – Large acreage positions and operatorship • Target Multiple Petroleum System Tests Annually – Currently captured 7-9 petroleum system tests – Commence drilling as early as late 2013 – Additional 4-6 systems opportunities to be secured • Strategic Partnering Potential – Attracting significant industry interest February 2013 10 Investor Presentation
Rio Del Rey Petroleum System Cameroon – near-term drilling opportunity • Extension of a Proven Offshore Play – Deepwater Tertiary trend onshore – Analogous to >1BBoe Alba oil and natural gas condensate field offshore • Built Substantial Acreage Position – 720 K gross acres – 100% WI, operated by KOS • First Prospect Near-term Drilling – Sipo-1 – approximately 150 MMBoe mean resources • Multiple Follow-On Opportunities – 3 to 4 similar prospects February 2013 11 Investor Presentation
Rio Del Rey Petroleum System Near-term drilling opportunity with upside • Extension of a Proven Offshore Play – Toe-thrust anticline prospect – Proven oil shows in nearby location • Sipo-1 Prospect Spud Near-term – 150 MMBoe mean unrisked potential – Results anticipated by end of 1Q13 A B Munge-1Oil Shows Sipo Sipo South February 2013 12 Investor Presentation
NW Africa Petroleum Systems Morocco – overlooked frontier opportunity with meaningful potential • Two High-potential Petroleum Systems – Offshore Agadir and Aaiun Basins – Equivalent to over 2,300 GOM blocks • Aggressively Advancing Plans – Processing and interpreting substantial seismic data – Securing co-venturers – Play diversity and prospect dependency – Multiple leads and prospects identified • Targeting Multiple Wells Beginning as Early as Late 2013 • Significant Recent Industry Focus February 2013 13 * Note: Following final government approvals of Kosmos’ recent acreage acquisition, the Kosmos’ interest in Essaouira will increase from 37.5 % to Investor Presentation 75%. Kosmos, having completed its Reconnaissance License, has exercised its option to enter into a Petroleum Agreement for the Tarhazoute area and anticipates operating this area with 75% participation interest.
Offshore Agadir Basin Petroleum System Overlooked frontier opportunity with meaningful potential • Only Undrilled Salt Basin in South Atlantic Margin – All petroleum system elements present – Play diversity and prospect dependency – Quickly advancing seismic acquisition and B processing A • Plans to Drill as Early as Late 2013 – Substantial recent industry activity B A February 2013 14 * Note: Following final government approvals of Kosmos’ recent acreage acquisition, the Kosmos’ interest in Essaouira will increase from 37.5 % to Investor Presentation 75%. Kosmos, having completed its Reconnaissance License, has exercised its option to enter into a Petroleum Agreement for the Tarhazoute area and anticipates operating this area with 75% participation interest.
Offshore Aaiun Basin Petroleum System Cap Boujdour – game-changing exploration potential • Substantial Undrilled Cretaceous Delta – Similar in size to Niger Delta – Multiple independent play concepts – Combination stratigraphic traps and structural closures – AVO-supported Lower Cretaceous slope fan and channel sands • Multi-billion Barrel Potential – NSAI resource estimate approximately 5 BBoe gross unrisked – Reprocessing existing 3D seismic data – Drill-ready opportunities February 2013 15 Investor Presentation
Offshore Mauritania Petroleum System Mauritania – core geologic theme in same geography • Upper Cretaceous Play Concept – Second-cycle exploration opportunity – Untested position down-dip in a proven basin – Significant industry activity/drilling in 2013 • Substantial Deepwater Potential – Plans for 2D seismic in 1H 2013 and 3D later in the year – First drilling targeted as early as 2014 B A B A February 2013 16 Investor Presentation
Suriname – Guyana Petroleum System Suriname – expansion of core geologic theme across the Atlantic • Premier Position in Proven Basin – Tambaredjo oil field charged by deepwater Cretaceous kitchen – Attracted Chevron as industry partner • Progressing Seismic Interpretation – Maturing initial prospectivity B – First drilling targeted as early as 2014 A B A February 2013 17 Investor Presentation
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