Kosmos says Senegal has no plans to nationalise Yakaar-Teranga; shares down

Shares of oil and gas producer Kosmos Energy KOS.N down ~3% at $1.00

Company says Senegal's energy ministry has confirmed the country has no intention to nationalize the company's Yakaar-Teranga project

Kosmos owns 90% stake in Yakaar-Teranga project, with the remaining held by state-owned Petrosen

Both cos were looking for at least one more partner to enter project, but so far they have not succeeded

Kosmos will work with Petrosen to transfer the licence back to Senegal on, or before, the licence expiry in July 2026, if it does not find a partner by then - KOS

KOS' stock also pressured by over a $1 fall in oil prices O/R

Including session's moves, KOS down ~70.5% YTD