Kosmos Energy gives an update on current activity in Suriname.

The Anapai-1 well drilling in Block-45 offshore Suriname encountered shallow bore hole stability issues before reaching the target interval. Kosmos and its partner will re-spud the well, Anapai-1A, targeting the same objectives. The well design has been reconfigured to address the issues previously encountered. Anapai-1A is expected to spud imminentl and will take approximately 50 to 60 days to drill with results expected early in the third quarter. Kosmos’ share of the costs incurred to date on drilling the Anapai well is approximately $20 million.

In Block 42 the partnership is finalizing the first of up to three independent tests of prospects in the block. This includes the Pontoenoe prospect, which is similar to and along trend from the discoveries in Guyana. Kosmos anticipates drilling starting in the third quarter of this year.

Kosmos holds rights in the Block 45 and Block 42 contract areas under production sharing contracts with the Government of Suriname’s Staatsolie Maatschappij Suriname N.V. (“Staatsolie”). Kosmos (50 percent) is the exploration operator of Block 45 and is joined by its partner Chevron (50 percent). Kosmos (33.33 percent) is the exploration operator of Block 42 and is joined by its partners Chevron (33.33 percent) and Hess Corporation (NYSE:HES) (33.33 percent).