b'PART IItem 1. BusinessGeneralKosmos is a full-cycle deepwater independent oil and gas exploration and production companyfocused along the Atlantic Margins. Our key assets include production offshore Ghana, EquatorialGuinea and U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania andSenegal. We also maintain a sustainable exploration program balanced between proven basininfrastructure-led exploration (Equatorial Guinea and U.S. Gulf of Mexico), emerging basins(Mauritania, Senegal and Suriname) and frontier basins (Cote dIvoire, Namibia and Sao Tome andPrincipe). Kosmos is listed on the New York Stock Exchange (NYSE) and London Stock Exchange(LSE) and is traded under the ticker symbol KOS.Kosmos was founded in 2003 to find oil in under-explored or overlooked parts of West Africa.Members of the management teamwho had previously worked together making significant discoveriesand developing them in Africa, the Gulf of Mexico, and other areasestablished the company on asingle geologic concept that previously had been disregarded by others in the industry, the LateCretaceous play systems in West Africa. In its relatively brief history the Company has successfullyopened two new hydrocarbon basins through the discovery of the Jubilee field offshore Ghana in 2007and the Greater Tortue Ahmeyim development (which includes the Ahmeyim and Guembeul-1discoveries offshore Mauritania and Senegal in 2015 and 2016, respectively). Jubilee was one of thelargest oil discoveries worldwide in 2007 and is considered one of the largest finds offshore West Africaduring that decade. First oil production was delivered just 42 months after initial discovery, a record fora deepwater development in this water depth in West Africa. The Ahmeyim discovery was one of thelargest natural gas discoveries worldwide in 2015 and is believed to be the largest ever gas discoveryoffshore West Africa.Over the last two years, our business strategy has evolved to include production enhancing infilldrilling and well work as well as infrastructure-led exploration. This strategic evolution was initiallyenabled by our acquisition of the Ceiba Field and Okume Complex assets offshore Equatorial Guineain October 2017 together with access to surrounding exploration licenses, and bolstered by theSeptember 2018 acquisition of Deep Gulf Energy (together with its subsidiaries DGE), a deepwatercompany operating in the U.S. Gulf of Mexico, which further enhanced our production, exploitationand infrastructure-led exploration capabilities.Our Business StrategyAs a full-cycle E&P company, our mission is to deliver production and free cash flow from aportfolio rich in opportunities through a disciplined allocation of capital and optimal portfoliomanagement for the benefit of our shareholders.Our business strategy is designed to accomplish this mission by focusing on three key objectives:(1) maximize the value of our producing assets; (2) progress our discovered resources toward projectsanction and into proved reserves, production, and cash flow through efficient appraisal anddevelopment; and (3) add new resources through a consistently active low cost exploration program.We are focused on increasing production, cash flows and reserves from our producing assets inEquatorial Guinea, Ghana, and the U.S. Gulf of Mexico. In Mauritania and Senegal, we areprogressing our Greater Tortue Ahmeyim development with the objective of reaching first gas in thefirst half of 2022, as well as advancing our other discoveries towards a final investment decision. Wealso have a large inventory of leads and prospects in our exploration portfolio along the AtlanticMargins, both infrastructure-led and basin opening opportunities, which we plan to continue to maturefor future drilling, providing us access to asymmetric growth potential in the coming years.9'