A financial consultant thinks Kosmos Energy could have halted its decision to sell its stake in the Jubilee Oil Field in anticipation of a better deal in future. Sydney Casely-Hayford says Kosmos’ decision to cancel the deal with ExxonMobil was a strategic business decision. The US energy giant announced Wednesday it no longer wanted to sell its stake to ExxonMobil for $4 billion. It follows months of disagreements with the Ghana National Petroleum Company (GNPC) which also wanted to buy Kosmos’ stake. Kosmos has not come clear on why it took that decision but Mr Casely-Hayford says failure of the company to adduce reasons for stopping the deal makes business sense. “In business you try and keep your cards close to your chest as much as you can in order to be able to leverage the value of your assets and this is what they (Kosmos) would do if they are smart. And trust me, they are smart. These are not kids in the game. These guys have been exploring oil for a long time.” Meanwhile the financial analyst has warned GNPC to be cautious in its decision to acquire the Kosmos stake. According to him, the corporation would be rubbing shoulders with other huge oil companies operating in the Cape Three Points area which have stronger capital base. Mr. Casely-Hayford also dismisses suggestions the termination of the sale effectively implies Exxon Mobil is out of the game. Government in denial Government says it had no hand in the decision by Kosmos Energy to pull out of its sale and purchase agreement with ExxonMobil. In a letter addressed to Energy Minister Dr Oteng Adjei, President and Chief Operating Officer of Kosmos Energy, Brian Maxted, indicated the termination of the agreement. No reasons were given for the company’s decision. Last year, Kosmos agreed to sell its interests in the Jubilee field to ExxonMobil for $4 billion. However the move was faced with objections from government and the Ghana National Petroleum Corporation, which had showed interest in buying the stake. Deputy Energy Minister Inusah Fuseini tells Joy News Kosmos’ decision will end the disagreements. Source: Myjoyonline.com/Ghana