UPDATE: Global Hunter Securities Starts Kosmos Energy (KOS) at Buy; High Risk, High Reward

(Updated - May 21, 2012 9:10 AM EDT)

Global Hunter Securities initiates coverage on Kosmos Energy (NYSE: KOS) with a Buy. PT $15.00.

Analyst, John Malone, said, "Kosmos Energy is at the forefront of Atlantic Transform Margin exploration. As a partner in the Jubilee field, KOS was part of the consortium that opened up the play with plenty of upside potential in the immediate neighborhood. The company is now exploring from Morocco to Cameroon, as well as across the Atlantic in Suriname. We estimate that KOS can fund expected 2012 spending with cash on hand, augmented with Jubilee cash flow. We believe KOS has significant production upside potential given the company's portfolio and pedigree, including both management and the initial private equity backers. Earnings will likely be lumpy since the company is driven by the Jubilee lifting schedule, but we believe patient investors will be rewarded with further drillbit success."

For an analyst ratings summary and ratings history on Kosmos Energy click here. For more ratings news on Kosmos Energy click here.

Shares of Kosmos Energy closed at $10.11 yesterday.

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