Second Irish Farm-In for Kosmos Energy

After it was earlier today announced that Kosmos Energy Ltd. had entered into a farm-in agreement with Europa Oil & Gas for Europa’s licences offshore Ireland, Kosmos has confirmed entering into another similar agreement with Antrim Energy Inc.

Under the agreement Kosmos will acquire  a 75 percent participating interest and operatorship in the approximately 1,410 square kilometer Licensing Option 11/5 in the prospective Porcupine Basin, offshore the west coast of Ireland, in exchange for carrying the full costs of a planned 3D seismic program on the block. In addition, the Company will reimburse Antrim for a portion of previously-incurred exploration costs.

Related: Kosmos Farms Into Europa’s Licences Off Ireland

Paul Dailly, Senior Vice President and Chief Geoscientist, commented, “The addition of these highly-prospective blocks offshore Ireland represents further opportunity to leverage our understanding of Cretaceous-age combination structural-stratigraphic plays in overlooked and underexplored basins. With a number of significant leads already identified on 2D, our plans are to commence 3D seismic acquisition over portions of these deepwater acreage positions later in 2013, subject to finalizing the areas as Frontier Exploration Licenses. Combined with our positions offshore Morocco, Mauritania, and Suriname and onshore Cameroon, we are building out a premier exploration portfolio and exposing Kosmos to substantial upside exploration value.”

Stephen Greer, President and CEO of Antrim, commented, “Antrim is very pleased to have attracted a partner to this licence, and especially a proven player in the discovery and development of the world class deep sea Cretaceous West African oil fields.”