Kosmos Responds to BBC Panorama

June 6, 2019

Kosmos Energy has thoroughly reviewed the recent BBC Panorama program and rejects it as an inaccurate and misleading portrayal of our business in Senegal.

• Kosmos strongly refutes any implication that it acted improperly in the acquisition of interests in Senegal.
• Kosmos conducted extensive and thorough pre-transaction due diligence before acquiring its interests in the Cayar Offshore Profond and St. Louis Offshore Profond blocks. We entered into the transaction with Timis Corporation with complete confidence that we are in full compliance with all applicable laws.
• The commercial terms of our agreement with Timis Corporation were filed with the U.S. Securities and Exchange Commission on 3 November 2014. Kosmos made no payments to any individual or entity to acquire its interests in the blocks, nor does it have any future payment obligations.
• The BBC asserts that Kosmos made a cash loan to Timis Corporation. This claim is inaccurate. In a written response to a question from the BBC well before the program aired, we informed the BBC that Kosmos entered into a line of credit agreement with Timis Corporation for the sole purpose of funding its share of exploration costs. The line of credit was controlled entirely by Kosmos and no cash was ever distributed to Timis Corporation.
• The Greater Tortue Ahmeyim natural gas project remains on track to deliver first gas in 2022, which will bring significant benefits to the people of Mauritania and Senegal.

French Translation of Kosmos’ Response to BBC Panorama

For additional information, you can find BP’s response to the BBC Panorama program here.