b'During the first quarter of 2019, Kosmos expanded its relationship with BP to grow Kosmosfootprint in the deepwater U.S. Gulf of Mexico. The venture includes the evaluation of 18 jointlyowned leases in the Garden Banks area and an opportunity to earn an interest in three additionalblocks in other areas of the deepwater U.S. Gulf of Mexico. This agreement will allow both companiesto leverage complementary skill sets to execute farm-in projects around existing infrastructure. Kosmoswill be designated operator and plans to commence drilling operations on the first well in 2019.During the first quarter of 2019, Kosmos executed a farm-in agreement with Chevron covering theright to earn an interest in a strategic block in the deepwater U.S. Gulf of Mexico. This agreementallows Kosmos another opportunity to execute its deepwater U.S. Gulf of Mexico strategy of lower riskprospects with the potential for subsea development near existing midstream infrastructure. Kosmos willbe designated operator and plans to commence drilling operations in 2019.Pre-tax income from our U.S. Gulf of Mexico operations are taxable at a 21% U.S. statutory taxrate. Our 2018 financial results reflect U.S. Gulf of Mexico operations from September 14, 2018 toDecember 31, 2018. Our financial results for 2019 will reflect a full-year of U.S. Gulf of Mexicooperations, which will impact our overall effective tax rate.Equatorial GuineaIn June 2018, we completed a farm-in agreement with a subsidiary of Ophir Energy plc (Ophir)for Block EG-24, offshore Equatorial Guinea, whereby we acquired a 40% non-operated participatinginterest. As part of the agreement, we reimbursed a portion of Ophirs previously incurred explorationcosts and will fully carry Ophirs share of the costs of a planned 3D seismic program as well as pay adisproportionate share of the well commitment should we enter the second exploration sub-period. Thepetroleum contract covers approximately 3,500 square kilometers, with a first exploration period ofthree years from the effective date (March 2018) which can be extended up to four additional years atour election subject to fulfilling specific work obligations. The first exploration period work programincludes a 3,000 square kilometer 3D seismic acquisition requirement which was completed inNovember 2018. In January 2019, entered into an agreement to acquire Ophirs remaining interest inand operatorship of the block, subject to customary governmental approvals, which will result inKosmos owning an 80% interest in Block EG-24. GEPetrol has a 20% carried interest and should acommercial discovery be made, GEPetrols 20% carried interest will convert to a 20% participatinginterest for all development and production operations.In August 2018, we completed a farm-out agreement with a subsidiary of Trident Energy(Trident), covering blocks S, W and EG-21 offshore Equatorial Guinea resulting in a $7.7 milliongain. Under the terms of the agreement, Trident acquired a 40% non-operated participating interest inthe blocks and Kosmos remains the operator.In November 2018, we completed a 3D seismic survey of approximately 9,500 square kilometersover blocks EG-21, EG-24, S and W offshore Equatorial Guinea, and approximately 200 squarekilometers over Block G. The seismic will be processed with the objective of high grading prospects fordrilling as early as 2019.Production in Equatorial Guinea averaged approximately 44,100 bopd (gross) for the year endedDecember 31, 2018. Through December 2018, Kosmos has received approximately $258 million individends from the Kosmos-Trident joint venture (over 100 percent of the $231 million purchase price),which equates to a payback of less than one year.Effective January 1, 2019, our outstanding shares in KTIPI were transferred to Trident in exchangefor a 40.375% undivided interest in the Ceiba Field and Okume Complex. As a result, our interest inthe Ceiba Field and Okume Complex will be accounted for under the proportionate consolidationmethod of accounting going forward. Pre-tax income from our interests in our Ceiba Field and Okume78'