Offshore staff

DALLAS –Kosmos Energy (NYSE:KOS) has exercised a provision in the joint operating agreement to acquire Sabre Oil & Gas Holdings Ltd.’s participating interest offshore Ghana in the Deepwater Tano block.

This will boost Kosmos’ interest inJubilee field from 24.1% to 25.8%. Kosmos’ interest in the block will rise from 18% to 22.05%. The cost is about $365 million plus a possible $45 million if certain performance milestones are met.

The transaction is expected to close in 2Q 2012, pending normal closing conditions and government approvals.

2/28/2012