  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.
