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 .