Kosmos To Acquire 40% Of EG-24 Exploration License In Farm-Out Deal

Ophir Plc has entered into a farm-out agreement with Kosmos Energy (NYSE: KOS) covering the EG-24 exploration license in Equatorial Guinea, the company said on May 14.

Under the terms of the agreement, Kosmos will acquire a 40% non-operated interest in Block EG-24. In consideration Kosmos will fully carry Ophir for the cost of a block-wide 3-D seismic survey, during the first exploration period of the license.