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Kosmos Energy Announces Amendment and Restatement of Corporate Revolving Credit Facility

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Kosmos
Energy
(NYSE/LSE: KOS) announced today an amendment and restatement
of its corporate revolving credit facility. Three significant objectives
were achieved:

  • Borrowing capacity remains at $400 million
  • Date of maturity has been extended by approximately three and one-half
    years to May 31, 2022, and
  • Facility costs have been lowered from LIBOR plus a six percent margin
    to LIBOR plus a five percent margin

"The amendment and extension to our corporate revolving credit facility
enhances our already strong liquidity position. The improvement in terms
reflects the growth and quality of our production base and the continued
long-term support we have received from our banks is an affirmation of
our strong relationships and track-record for financial prudence," said
Thomas P. Chambers, senior vice president and chief financial officer.

About Kosmos Energy

Kosmos is a well-capitalized, pure play deepwater oil and gas company
with growing production, a pipeline of development opportunities and a
balanced exploration portfolio along the Atlantic Margins. Our assets
include growing production offshore Ghana and Equatorial Guinea, a
competitively positioned Tortue gas project in Mauritania and Senegal
and a sustainable exploration program balanced between proven basins
(Equatorial Guinea), emerging basins (Mauritania, Senegal and Suriname)
and frontier basins (Cote d'Ivoire and Sao Tome and Principe). 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 2017 Corporate Responsibility
Report. For additional information, visit www.kosmosenergy.com.

Forward-Looking Statements

This 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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