8:00 | 06.02.2018
Kosmos Energy Refinances Its $1.5 Billion Reserve Based Lending Facility

Kosmos Energy (NYSE: KOS) (LSE: KOS) announced today that it has
refinanced its reserve based lending (RBL) facility. The RBL facility,
which previously incorporated only the company’s Ghana assets, now
includes the recently acquired producing assets in Equatorial Guinea as
well as allowing the company the future flexibility to include the
Greater Tortue development post final investment decision. The structure
of the RBL includes an expansion feature which allows the facility size
to be increased up to an additional $500 million in the future, at the
company’s election.

In addition to the inclusion of new borrowing base assets, through the

The borrowing capacity has been increased to $1.5 billion, up from
$1.3 billion

Date of maturity has been extended by four years to March 31, 2025

Amortization has been extended by four years to March 31, 2022, and

Commitment fees have been lowered.

Following the re-financing of the RBL, Kosmos’s total available
liquidity increases to approximately $1.3 billion.

Thomas P. Chambers, senior vice president and chief financial officer,
said: “We are pleased to have refinanced our RBL facility, increasing
our borrowing capacity through the incorporation of our increased
reserves and production. The financing, which was oversubscribed, saw
strong appetite from both new and existing banks.”

“With the additional RBL capacity and strong liquidity, Kosmos maintains
its low leverage and very solid financial position. Proactive management
of the company’s balance sheet is a key part of the company’s strategy
and enables us to take advantage of attractive organic and inorganic
opportunities and grow the company from a position of strength.”
About Kosmos Energy
Kosmos is a leading independent oil and gas exploration and production
company focused on frontier and emerging areas along the Atlantic
Margin. Our assets include existing production and development projects
offshore Ghana and Equatorial Guinea, large discoveries offshore
Mauritania and Senegal, as well as exploration licenses with significant
hydrocarbon potential offshore Suriname, Sao Tome and Principe,
Equatorial Guinea, Morocco and Western Sahara. As an ethical and
transparent company, Kosmos is committed to doing things the right way.
The Company’s Business
Principles articulate our commitment to transparency, ethics, human
rights, safety and the environment. Read more about this commitment in
the Kosmos 2016
Corporate Responsibility Report. For additional information, visit
Forward-Looking StatementsThis press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that Kosmos expects, believes
or anticipates will or may occur in the future are forward-looking
statements. Kosmos’ estimates and forward-looking statements are mainly
based on its current expectations and estimates of future events and
trends, which affect or may affect its businesses and operations.
Although Kosmos believes that these estimates and forward-looking
statements are based upon reasonable assumptions, they are subject to
several risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or
other similar words are intended to identify forward-looking statements.
Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Kosmos, which may
cause actual results to differ materially from those implied or
expressed by the forward-looking statements. Further information on such
assumptions, risks and uncertainties is available in Kosmos’ Securities
and Exchange Commission (“SEC”) filings.Kosmos undertakes no
obligation and does not intend to update or correct these
forward-looking statements to reflect events or circumstances occurring
after the date of this press release, except as required by applicable
law. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in their
entirety by this cautionary statement.
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