Cosmological Dynamics of Phantom Field

We study the general features of the dynamics of the phantom field in the cosmological context. In the case of inverse coshyperbolic potential, we demonstrate that the phantom field can successfully drive the observed current accelerated expansion of the universe with the equation of state parameter $w_{\phi} < -1$. The de-Sitter universe turns out to be the late time attractor of the model. The main features of the dynamics are independent of the initial conditions and the parameters of the model. The model fits the supernova data very well, allowing for $-2.4 < w_{\phi} < -1$ at 95 % confidence level.Comment: Typos corrected. Some clarifications and references added. To appear in Physical Review