Pressure drop in a vertical or deviated borehole has been found to be due to hydrostatic changes and friction as a result of the produced fluids flowing to the surface. When oil flows upwards, the flowing pressure along the tubing string drops, and this makes gas to start liberating. Thus, multiphase flow forms in the tubing string. Hence, adequate modelling of vertical lift performance is required to predict the pressure drop and subsequently the wellbore pressure because many factors are involved [1]. In this work, sensitivity analysis of multiphase flow in a well has been carried out with the aid of PROSPER in which the most accurate correlation was chosen from twelve selected built-in correlations present in the program to predict the pressure drop via gradient matching. A sensitivity analysis of the well was further performed to investigate the parameters such as tubing diameter, gas-oil ratio and wellhead pressure that were affecting the vertical lift performance of a high water cut well. The results obtained from the correlation matching showed that Dun and Ros [2] original correlation was the best fit correlation for the well. The results of the sensitivity analysis revealed that reduction of wellhead pressure from 600 psi to 400 psi could increase liquid rate by 41%. An adjustment of wellhead pressure was found to give the most significant impact on the production rate of the well as compared to other two parameters studied.