ENDEAVOUR INTERNATIONAL CORP - FORM 8-K - EX-99.1

ENDEAVOUR INTERNATIONAL CORP - FORM 8-K - EX-99.1 - June 30, 2015

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Attached files

ENDEAVOUR INTERNATIONAL CORP Reports

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8-K - 8-K - ENDEAVOUR INTERNATIONAL CORP	d14377d8k.htm

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE


In re: Endeavour Operating Corporation, et al.¹		Case No. 14-12308
		Reporting Period: 5/1/15 – 5/31/15

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.


REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	Affidavit/ Supplement Attached
Schedule of Cash Receipts and Disbursements	MOR-1	YES	NO	NO
Bank Reconciliation (or copies of debtor’s bank reconciliations)	MOR-1a	NO	YES	YES
Schedule of Professional Fees Paid	MOR-1b	YES	NO	NO
Copies of bank statements
Cash disbursements journals
Statement of Operations	MOR-2	YES	NO	NO
Balance Sheet	MOR-3	YES	NO	NO
Status of Post-petition Taxes	MOR-4	YES	NO	NO
Copies of IRS Form 6123 or payment receipt
Copies of tax returns filed during reporting period
Summary of Unpaid Post-petition Debts	MOR-4	YES	NO	NO
Listing of aged accounts payable	MOR-4	YES	NO	NO
Accounts Receivable Reconciliation and Aging	MOR-5	YES	NO	NO
Debtor Questionnaire	MOR-5	YES	NO	NO

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.



Signature of Debtor				Date


Signature of Joint Debtor				Date

/s/ Catherine L. Stubbs				6/30/15
Signature of Authorized Individual*				Date

Catherine L. Stubbs				Senior Vice-President, Chief Financial Officer
Printed Name of Authorized Individual				Title of Authorized Individual

*	Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

The Debtors in these chapter 11 cases and the last four digits of each Debtor’s taxpayer identification number are as follows: Endeavour Operating Corporation (6552); Endeavour International Corporation (8389); Endeavour Colorado Corporation (0067); END Management Company (7578); Endeavour Energy New Ventures Inc. (7563); Endeavour Energy Luxembourg S.à r.l. (2113). The Debtors’ principal offices are located at 811 Main Street, Suite 2100, Houston, Texas 77002.


In re Endeavour Operating Corporation, et al.		Case No. 14-12308
Debtors		Reporting Period: 5/1/15 – 5/31/15

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filled. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CONT)]

BANK ACCOUNTS

CURRENT MONTH

CUMULATIVE
FILING TO DATE

OPER.

PAYROLL

TAX

OTHER

ACTUAL

PROJECTED

ACTUAL

PROJECTED

CASH BEGINNING OF MONTH

SEE EXHIBIT A

RECEIPTS

CASH SALES

ACCOUNTS RECEIVABLE

LOANS AND ADVANCES

SALE OF ASSETS

OTHER (ATTACH LIST)

TRANSFERS (FROM DIP ACCTS)

TOTAL RECEIPTS

DISBURSEMENTS

NET PAYROLL

PAYROLL TAXES

SALES, USE & OTHER TAXES

INVENTORY PURCHASES

SECURED RENTAL/LEASES

INSURANCE

ADMINISTRATIVE

SELLING

OTHER (ATTACH LIST)

OWNER DRAW*

TRANSFERS (TO DIP ACCTS)

PROFESSIONAL FEES

U.S. TRUSTEE QUARTERLY FEES

COURT COSTS

TOTAL DISBURSEMENTS

NET CASH FLOW

(RECEIPTS LESS DISBURSEMENTS)

CASH - END OF MONTH

*	COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED


DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS		$

LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS		$
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)		$

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES		$

EXHIBIT A

Schedule of Cash Receipts and Disbursements

Summary of Cash Receipts and Disbursements


(In Millions)	October 10, 2014 - October 31, 2014			November 1, 2014 - November 30, 2014			December 1, 2014 - December 31, 2014			January 1, 2015 - January 31, 2015			February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015			April 1, 2015 - April 30, 2015			May 1 2015, - May 31, 2015			Cumulative
Cash, Beginning of Period	$	37.0		$	37.3		$	35.1		$	32.0		$	29.2		$	24.2		$	17.3		$	14.1		$	37.0
Inflows:
US Revenue	$	0.3		$	0.5		$	1.0		$	0.7		$	1.0		$	0.2		$	0.4		$	0.7		$	4.8
Misc Revenue		—			0.6			—			—			—			—			—			—			0.6
JIB Receipts		0.6			—			—			—			—			—			—			—			0.6

Total Inflows	$	0.9		$	1.1		$	1.0		$	0.7		$	1.0		$	0.2		$	0.4		$	0.7		$	6.0

Outflows:
Capital Projects	$	(0.1	)	$	(0.7	)	$	(1.9	)	$	(1.4	)	$	(1.0	)	$	(1.3	)	$	(0.6	)	$	—		$	(7.0	)
Operating Costs		—			(0.1	)		—			(0.2	)		(0.2	)		(0.1	)		(0.3	)		(0.4	)		(1.3	)
G&A/Other		(0.4	)		(2.5	)		(1.5	)		(1.0	)		(1.9	)		(1.0	)		(1.1	)		(1.8	)		(11.1	)
Professionals		(0.1	)		—			(4.1	)		(0.9	)		(2.9	)		(4.7	)		(1.6	)		(0.6	)		(14.9	)

Total Outflows	$	(0.6	)	$	(3.3	)	$	(7.5	)	$	(3.5	)	$	(6.0	)	$	(7.1	)	$	(3.6	)	$	(2.8	)	$	(34.3	)

IC Transfers:
Restructuring Costs	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
US G&A		—			—			3.3			—			—			—			—			7.0			10.3
US Capex		—			—			—			—			—			—			—			—			—

Net Cash Flow	$	0.3		$	(2.2	)	$	(3.1	)	$	(2.8	)	$	(5.0	)	$	(6.9	)	$	(3.2	)	$	4.9		$	(18.0	)

Cash, End of Period	$	37.3		$	35.1		$	32.0		$	29.2		$	24.2		$	17.3		$	14.1		$	19.0		$	19.0

Note 1: All Cash Receipts and Disbursements are through Endeavour Operating Corp.

Note 2: An adjustment has been made to April to fix a cut-off error. Various payments incorrectly shown in April per the April MOR filing have been moved to the month of May when they were paid.

Cash Disbursements


(amounts in millions)
Case Number	Entity	October 10, 2014 - October 31, 2014		November 1, 2014 - November 30, 2014		December 1, 2014 - December 31, 2014		January 1, 2015 - January 31, 2015		Februay 1, 2015 - February 28, 2015		March 1, 2015 - March 31, 2015		April 1, 2015 - April 30, 2015		May 1, 2015 - May 31, 2015
14-12308	Endeavour Operating Corporation		0.4		2.6		5.6		1.9		4.8		5.8		2.7		2.4
14-12310	Endeavour Colorado Corporation		0.2		0.7		1.9		1.6		1.2		1.3		0.9		0.4
14-12312	Endeavour Management Company		0		0		0		0		0		0		0		0
14-12311	Endeavour Energy New Ventures Inc.		0		0		0		0		0		0		0		0
14-12309	Endeavour International Corporation		0		0		0		0		0		0		0		0
14-12313	Endeavour Energy Luxembourg S.a.r.l.		0		0		0		0		0		0		0		0

	Total		0.6		3.3		7.5		3.5		6.0		7.1		3.6		2.8

Note: An adjustment has been made to the April disbursements to fix a cut-off error described on the Schedule of Cash Receipts and Disbursements.

In re Endeavour Operating Corporation, et al.,


Debtors¹	Case No.:	14-12308
MOR-1a	Reporting Period:	5/1/2015 – 5/31/2015

For the Period May 1, 2015 to May 31, 2015

Declaration Regarding the Reconciliation of the Debtor’s Bank Accounts as of May 31, 2015.

Catherine L. Stubbs hereby declares under penalty of perjury:

I am the Chief Financial Officer for Endeavour International Corporation, the above-captioned debtors and debtors in possession (collectively, the “Debtors”). I am familiar with the Debtors’ day-to-day operations, business, affairs and books and records.

All statements in this Declaration are based on my personal knowledge, my review of the relevant documents, my discussions with other employees of the Debtors, or my opinion based upon my experience and knowledge of the Debtors’ operations and financial condition. If I were called upon to testify, I could and would testify to each of the facts set forth herein based on such personal knowledge, review of documents or opinion. I am authorized to submit this Declaration on behalf of the Debtors.

To the best of my knowledge, the Debtors’ bank balances as of May 31, 2015 have been reconciled in an accurate and timely manner. Copies of the bank reconciliations are available for inspection upon request by the Office of the United States Trustee.


In re Endeavour Operating Corporation, et al.,		Case No. 14-12308
Debtors		Reporting Period: 10/10/2014 – 5/31/2015

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.


Payee	Period Covered	Amount Covered		Payor	Check/Wire		Amount Paid				Since Inception
Payee	Period Covered	Amount Covered		Payor	Number	Date	Fees		Expenses		Fees		Expenses
Kurtzman Carson Consultants	11/1/2014 - 11/30/2014	$	13,968.00	Endeavour Operating Corporation	CHIP REF: 484138**4	11/10/2014		NONE	$	13,968.00
Kurtzman Carson Consultants	10/10/2014 - 10/31/2014	$	85,067.04	Endeavour Operating Corporation	CHIP REF: 047***39	2/27/2015	$	28,883.00	$	56,127.81
Kurtzman Carson Consultants	11/1/2014 - 11/30/2014	$	95,163.60	Endeavour Operating Corporation	CHIP REF: 047***39	2/27/2015	$	28,176.00	$	66,580.51
Kurtzman Carson Consultants	12/1/2014 – 12/31/2014	$	196,667.26	Endeavour Operating Corporation	CHIP REF: 047***39	2/27/2015	$	81,763.50	$	114,451.51
Kurtzman Carson Consultants	1/1/2015 – 1/31/2015	$	71,377.56	Endeavour Operating Corporation	CHIP REF: 047***39	2/27/2015	$	34,429.50	$	36,787.66	$	173,252.00	$	287,915.49
Weil, Gotshal & Manges LLP	10/10/2014 - 10/31/2014	$	659,215.10	Endeavour Operating Corporation	JPM REF: 13957**5JO	12/31/2014	$	646,025.40	$	13,189.76
Weil, Gotshal & Manges LLP	11/1/2014 - 11/30/2014	$	661,521.78	Endeavour Operating Corporation	JPM REF: 59745**1JO	3/2/2015	$	653,882.00	$	7,639.78
Weil, Gotshal & Manges LLP	12/1/2014 – 12/31/2014	$	722,206.18	Endeavour Operating Corporation	JPM REF: 59745**1JO	3/2/2015	$	708,302.60	$	13,903.58
Weil, Gotshal & Manges LLP	1/1/2015 – 1/31/2015	$	557,137.68	Endeavour Operating Corporation	JPM REF: 48385**6JO	3/27/2015	$	544,840.40	$	12,296.78
Weil, Gotshal & Manges LLP	2/1/2015 – 2/28/2015	$	276,126.26	Endeavour Operating Corporation	JPM REF: 1953**44JO	4/24/2015	$	273,012.00	$	3,114.26	$	2,826,062.40	$	50,144.26


In re Endeavour Operating Corporation, et al.,		Case No. 14-12308
Debtors		Reporting Period: 10/10/2014 – 5/31/2015

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID (continued)

This schedule is to include all retained professional payments from case inception to current month.


Payee	Period Covered	Amount Covered		Payor	Check/Wire		Amount Paid					Since Inception
Payee	Period Covered	Amount Covered		Payor	Number	Date	Fees		Expenses			Fees		Expenses
Blackstone Advisory Partners LP	10/10/2014 - 10/31/2014	$	95,414.73	Endeavour Operating Corporation	JPM REF: 13958**5JO	12/31/2014	$	94,838.71	$	576.02
Blackstone Advisory Partners LP	11/1/2014 - 11/30/2014	$	162,471.26	Endeavour Operating Corporation	JPM REF: 24873**4JO	2/13/2015	$	140,000.00	$	22,471.26
Blackstone Advisory Partners LP	12/1/2014 – 12/31/2014	$	141,648.13	Endeavour Operating Corporation	JPM REF: 3230***8JO	2/27/2015	$	140,000.00	$	1,648.13
Blackstone Advisory Partners LP	1/1/2015 – 1/31/2015	$	141,180.51	Endeavour Operating Corporation	JPM REF: 4831**6JO	3/27/2015	$	140,000.00	$	1,180.51
Blackstone Advisory Partners LP	2/1/2015 – 2/28/2015	$	132,321.43	Endeavour Operating Corporation	JPM REF: 195***4JO	4/24/2015	$	140,000.00	($	7,678.57	)	$	654,838.71	$	18,197.35
Opportune LLP	10/10/2014- 10/31/2014	$	287,770.31	Endeavour Operating Corporation	FED WIRE: 0109***833	1/9/2015	$	271,729.50	$	16,040.81
Opportune LLP	11/1/2014 - 11/30/2014	$	398,161.05	Endeavour Operating Corporation	FED WIRE: 0213B***352	2/13/2015	$	388,168.50	$	9,992.55
Opportune LLP	12/1/2014 – 12/31/2014	$	230,667.21	Endeavour Operating Corporation	FED WIRE: 0227***873	2/27/2015	$	210,542.60	$	20,124.61
Opportune LLP	1/1/2015 – 1/31/2015	$	275,707.49	Endeavour Operating Corporation	FED WIRE: 0331***547	3/31/2015	$	267,790.00	$	7,917.49
Opportune LLP	2/1/2015 – 2/28/2015	$	272,666.37	Endeavour Operating Corporation	FED WIRE: 0508***118	5/8/2015	$	266,660.000	$	6,006.37


In re Endeavour Operating Corporation, et al.,		Case No. 14-12308
Debtors		Reporting Period: 10/10/2014 – 5/31/2015

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID (continued)

This schedule is to include all retained professional payments from case inception to current month.


Payee	Period Covered	Amount Covered		Payor	Check/Wire		Amount Paid				Since Inception
Payee	Period Covered	Amount Covered		Payor	Number	Date	Fees		Expenses		Fees		Expenses
Opportune LLP	3/1/2015 – 3/31/2015	$	273,321.66	Endeavour Operating Corporation	FED WIRE: 0522***496	5/22/2015	$	267,665.00	$	5,656.66	$	1,672,555.60	$	65,738.49
Ernst and Young LLP	10/10/2014 - 10/31/2014	$	53,984.22	Endeavour Operating Corporation	ACH: 1905***673	2/13/2015	$	53,984.22		NONE
Ernst and Young LLP	11/1/2014 - 11/30/2014	$	171,792.94	Endeavour Operating Corporation	ACH: 1905***673	2/13/2015	$	171,792.94		NONE
Ernst and Young LLP	12/1/2014 – 12/31/2014	$	118,083.51	Endeavour Operating Corporation	FED WIRE: 0227***076	2/27/2015	$	118,083.51		NONE
Ernst and Young LLP	1/1/2015 – 1/31/2015	$	157,265.25	Endeavour Operating Corporation	FED WIRE: 0327***930	3/27/2015	$	157,265.25		NONE
Ernst and Young LLP	2/1/2015 – 2/28/2015	$	164,407.26	Endeavour Operating Corporation	FED WIRE: 2284***264	4/24/2015	$	164,407.26		NONE	$	665,533.18		NONE
Richards, Layton & Finger	10/10/2014 - 10/31/2014	$	62,830.65	Endeavour Operating Corporation	FED WIRE: 0302***594	3/2/2015	$	57,014.40	$	5,816.25
Richards, Layton & Finger	11/1/2014 - 11/30/2014	$	59,150.56	Endeavour Operating Corporation	FED WIRE: 0302***594	3/2/2015	$	56,347.60	$	2,802.96
Richards, Layton & Finger	12/1/2014 – 12/31/2014	$	67,654.81	Endeavour Operating Corporation	FED WIRE: 0302***594	3/2/2015	$	61,251.20	$	6,403.61
Richards, Layton & Finger	1/1/2015 – 1/31/2015	$	40,284.95	Endeavour Operating Corporation	FED WIRE: 0327***770	3/27/2015	$	38,810.00	$	1,474.95


In re Endeavour Operating Corporation, et al.,		Case No. 14-12308
Debtors		Reporting Period: 10/10/2014 – 5/31/2015

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID (continued)

This schedule is to include all retained professional payments from case inception to current month.


Payee	Period Covered	Amount Covered		Payor	Check/Wire		Amount Paid				Since Inception
Payee	Period Covered	Amount Covered		Payor	Number	Date	Fees		Expenses		Fees		Expenses
Richards, Layton & Finger	2/1/2015 – 2/28/2015	$	24,639.71	Endeavour Operating Corporation	FED WIRE: 0424***993	4/24/2015	$	24,159.60	$	480.11	$	237,582.80	$	16,977.88
Alvarez & Marsal	12/1/2014 – 1/31/2015	$	119,265.75	Endeavour Operating Corporation	JPM REF: 563***6JO	3/27/2015	$	119,212.00	$	53.75	$	119,212.00	$	53.75
Bayard, P.A.	12/1/2014 – 12/31/2014	$	123,099.45	Endeavour Operating Corporation	FED WIRE: 032***737	3/27/2015	$	120,191.20	$	2,908.25
Bayard, P.A.	1/1/2015 – 1/31/2015	$	54,297.93	Endeavour Operating Corporation	FED WIRE: 032***737	3/27/2015	$	53,502.00	$	795.93
Bayard, P.A.	2/1/2015 – 2/28/2015	$	38,267.08	Endeavour Operating Corporation	FED WIRE: 042***995	4/24/2015	$	37,536.80	$	730.28	$	211,230.00	$	4,434.46
Thompson & Knight	12/1/2014 – 12/31/2014	$	224,454.15	Endeavour Operating Corporation	FED WIRE: 032***728	3/27/2015	$	222,398.80	$	2,055.35
Thompson & Knight	1/1/2015 – 1/31/2015	$	237,282.25	Endeavour Operating Corporation	FED WIRE: 032***728	3/27/2015	$	189,825.80	$	1,920.65
Thompson & Knight	2/1/2015 – 2/28/2015	$	102,492.40	Endeavour Operating Corporation	FED WIRE: 042***989	4/24/2015	$	102,492.40		NONE	$	514,717.00	$	3,976.00
UpShot Services LLC	1/1/2015 – 1/31/2015	$	3,284.50	Endeavour Operating Corporation	FED WIRE: 050***077	55/8/2015	$	3,284.50		NONE	$	3,284.50		NONE


In re Endeavour Operating Corporation, et al.		Case No. 14-12308
Debtors		Reporting Period: 5/1/2015 – 5/31/2015

STATEMENT OF OPERATIONS

(Income Statement)

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.


REVENUES	Month		Cumulative Filing to Date
Gross Revenues		SEE ATTACHED EXHIBIT B
Less: Returns and Allowances
Net Revenue	$		$
COST OF GOODS SOLD
Beginning Inventory
Add: Purchases
Add: Cost of Labor
Add: Other Costs (attach schedule)
Less: Ending Inventory
Cost of Goods Sold
Gross Profit
OPERATING EXPENSES
Advertising
Auto and Truck Expense
Bad Debts
Contributions
Employee Benefits Programs
Insider Compensation*
Insurance
Management Fees/Bonuses
Office Expense
Pension & Profit-Sharing Plans
Repairs and Maintenance
Rent and Lease Expense
Salaries/Commissions/Fees
Supplies
Taxes - Payroll
Taxes - Real Estate
Taxes - Other
Travel and Entertainment
Utilities
Other (attach schedule)

Total Operating Expenses Before Depreciation

Depreciation/Depletion/Amortization
Net Profit (Loss) Before Reorganization Items
OTHER INCOME AND EXPENSES
Other Income (attach schedule)
Interest Expense
Other Expense (attach schedule)
Net Profit (Loss) Before Reorganization Items
REORGANIZATION ITEMS
Professional Fees
U.S. Trustee Quarterly Fees
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)
Gain (Loss) from Sale of Equipment
Other Reorganization Expenses (attach schedule)

Total Reorganization Expenses

Income Taxes
Net Profit (Loss)	$		$

*	“Insider” is defined in 11 U.S.C. Section 101(31).

EXHIBIT B

Endeavour International Corporation Statement of Operations


	October 11, 2014 - October 31, 2014			November 1 2014 - November 30, 2014			December 1, 2014 - December 31, 2014			January 1, 2015 - January 31, 2015			February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015			April 1, 2015 - April 30, 2015			May 1, 2015 - May 31, 2015			Cumulative
Oil Revenue	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Gas Revenues		—			—			—			—			—			—			—			—			—
Liquids Revenues		—			—			—			—			—			—			—			—			—

Revenue	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Operating Expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total DD&A Expense		—			—			—			—			—			—			—			—			—
Impairment of Oil and Gas Properties		—			—			—			—			—			—			—			—			—
Goodwill Impairment Loss		—			—			—			—			—			—			—			—			—
General & Administrative Expense		1,430			87,282			7,564			(2,013	)		21,767			18,059			3,005			5,483			142,577

Total Expenses	$	1,430		$	87,282		$	7,564		$	(2,013	)	$	21,767		$	18,059		$	3,005		$	5,483		$	142,577
																									$	—

Operating Profit (Loss)	$	(1,430	)	$	(87,282	)	$	(7,564	)	$	2,013		$	(21,767	)	$	(18,059	)	$	(3,005	)	$	(5,483	)	$	(142,577	)

Gain/Loss on Derivative Instruments	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Interest Expense		—			—			—			—			—			—			—			—			—
Interest Income		(3,752,903	)		(5,540,000	)		(5,540,000	)		(5,540,000	)		(5,540,000	)		(5,540,000	)		(5,540,000	)		(5,540,000	)		(42,532,903	)
Transaction Costs		—			—			—			—			—			—			—			—			—
Total Letter of Credit Fees		—			—			—			—			—			—			—			—			—
Foreign Currency Exchange (Gain) Loss		—			—			—			—			—			—			—			—			—
Litigation Settlements		—			—			—			—			—			—			—			—			—
Net Other (Income) Expense		—			—			29,619,358			—			—			—			—			—			29,619,358

Other Income (Expense)	$	(3,752,903	)	$	(5,540,000	)	$	24,079,358		$	(5,540,000	)	$	(5,540,000	)	$	(5,540,000	)	$	(5,540,000	)	$	(5,540,000	)	$	(12,913,545	)

Income (Loss) Before Tax & Preferred Dividends	$	3,751,473		$	5,452,718		$	(24,086,922	)	$	5,542,013		$	5,518,233		$	5,521,941		$	5,536,995		$	5,534,517		$	12,770,968

Income Tax Expense	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Income (Loss) Before Preferred Dividends	$	3,751,473		$	5,452,718		$	(24,086,922	)	$	5,542,013		$	5,518,233		$	5,521,941		$	5,536,995		$	5,534,517		$	12,770,968

Preferred Stock Dividends	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Net Income (Loss)	$	3,751,473		$	5,452,718		$	(24,086,922	)	$	5,542,013		$	5,518,233		$	5,521,941		$	5,536,995		$	5,534,517		$	12,770,968

Note: The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

Endeavour Energy Luxembourg Sarl Statement of Operations


	October 11, 2014 - October 31, 2014			November 1 2014 - November 30, 2014			December 1, 2014 - December 31, 2014			January 1, 2015 - January 31, 2015			February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015			April 1, 2015 - April 30, 2015			May 1, 2015 - May 31, 2015			Cumulative
Oil Revenue	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Gas Revenues		—			—			—			—			—			—			—			—			—
Liquids Revenues		—			—			—			—			—			—			—			—			—

Revenue	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Operating Expenses	$	—		$	—		$	—			—			—			—			—			—			—
Total DD&A Expense		—			—			—			—			—			—			—			—			—
Impairment of Oil and Gas Properties		—			—			—			—			—			—			—			—			—
Goodwill Impairment Loss		—			—			—			—			—			—			—			—			—
General & Administrative Expense		50,924			—			491			1			1,213			1,725			3			3			54,360

Total Expenses	$	50,924		$	—		$	491		$	1		$	1,213		$	1,725		$	3		$	3		$	54,360

Operating Profit (Loss)	$	(50,924	)	$	—		$	(491	)	$	(1	)	$	(1,213	)	$	(1,725	)	$	(3	)	$	(3	)	$	(54,360	)

Gain/Loss on Derivative Instruments	$	—		$	—		$	—		$	—			—		$	—			—			—		$	—
Total Interest Expense		—			—			(5,454,339	)		—			—			—			—			—			(5,454,339	)
Interest Income		—			—			—			—			—			—			—			—			—
Transaction Costs		—			—			—			—			13,493			—			2,204			—			15,698
Total Letter of Credit Fees		—			—			—			—			—			—			—			—			—
Foreign Currency Exchange (Gain) Loss		(110	)		(202	)		(1,544	)		—			—			—			—			(1,459	)		(3,314	)
Litigation Settlements		—			—			—			—			—			—			—			—			—
Net Other (Income) Expense		—			—			4,001,679			—			—			—			—			—			4,001,679

Other Income (Expense)	$	(110	)	$	(202	)	$	(1,454,204	)	$	—		$	13,493		$	—		$	2,204		$	(1,459	)	$	(1,440,277	)

Income (Loss) Before Tax & Preferred Dividends	$	(50,814	)	$	202		$	1,453,713		$	(1	)	$	(14,707	)	$	(1,725	)	$	(2,208	)	$	1,456		$	1,385,916

Income Tax Expense	$	—		$	—		$	21,267		$	—		$	—		$	—		$	—		$	—			21,267

Income (Loss) Before Preferred Dividends	$	(50,814	)	$	202		$	1,432,446		$	(1	)	$	(14,707	)	$	(1,725	)	$	(2,208	)	$	1,456		$	1,364,649

Preferred Stock Dividends	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Net Income (Loss)	$	(50,814	)	$	202		$	1,432,446		$	(1	)	$	(14,707	)	$	(1,725	)	$	(2,208	)	$	1,456		$	1,364,649

Note: The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

Endeavour New Ventures, Inc. Statement of Operations


	October 11, 2014 - October 31, 2014		November 1 2014 - November 30, 2014		December 1, 2014 - December 31, 2014		January 1, 2015 - January 31, 2015		February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015		April 1, 2015 - April 30, 2015		May 1, 2015 - May 31, 2015		Cumulative
Oil Revenue	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—
Gas Revenues		—		—		—		—		—			—		—		—		—
Liquids Revenues		—		—		—		—		—			—		—		—		—

Revenue	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Operating Expenses	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—
Total DD&A Expense		—		—		—		—		—			—		—		—		—
Impairment of Oil and Gas Properties		—		—		—		—		—			—		—		—		—
Goodwill Impairment Loss		—		—		—		—		—			—		—		—		—
General & Administrative Expense		—		—		—		—		225			—		—		—		225

Total Expenses	$	—	$	—	$	—	$	—	$	225		$	—	$	—	$	—	$	225

Operating Profit (Loss)	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Gain/Loss on Derivative Instruments	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—
Total Interest Expense		—		—		—		—		—			—		—		—		—
Interest Income		—		—		—		—		—			—		—		—		—
Transaction Costs		—		—		—		—		—			—		—		—		—
Total Letter of Credit Fees		—		—		—		—		—			—		—		—		—
Foreign Currency Exchange (Gain) Loss		—		—		—		—		—			—		—		—		—
Litigation Settlements		—		—		—		—		—			—		—		—		—
Net Other (Income) Expense		—		—		—		—		—			—		—		—		—

Other Income (Expense)	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Income (Loss) Before Tax & Preferred Dividends	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Income Tax Expense	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Income (Loss) Before Preferred Dividends	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Preferred Stock Dividends	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Net Income (Loss)	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Note: The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

Endeavour Management Company Statement of Operations


	October 11, 2014 - October 31, 2014		November 1 2014 - November 30, 2014		December 1, 2014 - December 31, 2014		January 1, 2015 - January 31, 2015		February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015		April 1, 2015 - April 30, 2015		May 1, 2015 - May 31, 2015		Cumulative
Oil Revenue	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—
Gas Revenues		—		—		—		—		—			—		—		—		—
Liquids Revenues		—		—		—		—		—			—		—		—		—

Revenue	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Operating Expenses	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—
Total DD&A Expense		—		—		—		—		—			—		—		—		—
Impairment of Oil and Gas Properties		—		—		—		—		—			—		—		—		—
Goodwill Impairment Loss		—		—		—		—		—			—		—		—		—
General & Administrative Expense		—		—		—		—		225			—		—		—		225

Total Expenses	$	—	$	—	$	—	$	—	$	225		$	—	$	—	$	—	$	225

Operating Profit (Loss)	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Gain/Loss on Derivative Instruments	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—
Total Interest Expense		—		—		—		—		—			—		—		—		—
Interest Income		—		—		—		—		—			—		—		—		—
Transaction Costs		—		—		—		—		—			—		—		—		—
Total Letter of Credit Fees		—		—		—		—		—			—		—		—		—
Foreign Currency Exchange (Gain) Loss		—		—		—		—		—			—		—		—		—
Litigation Settlements		—		—		—		—		—			—		—		—		—
Net Other (Income) Expense		—		—		—		—		—			—		—		—		—

Other Income (Expense)	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Income (Loss) Before Tax & Preferred Dividends	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Income Tax Expense	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Income (Loss) Before Preferred Dividends	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Preferred Stock Dividends	$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—	$	—

Net Income (Loss)	$	—	$	—	$	—	$	—	$	(225	)	$	—	$	—	$	—	$	(225	)

Note: The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

Endeavour Colorado Corporation Statement of Operations


	October 11, 2014 - October 31, 2014			November 1 2014 - November 30, 2014			December 1, 2014 - December 31, 2014			January 1, 2015 - January 31, 2015			February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015			April 1, 2015 - April 30, 2015		May 1, 2015 - May 31, 2015		Cumulative
Oil Revenue	$	—		$	—		$	496,214		$	919		$	3,897		$	32,638		$	422,207	$	260,963	$	1,216,839
Gas Revenues		—			—			—			—			—			—			46,136		42,494		88,630
Liquids Revenues		—			—			—			—			—			—			—		—		—

Revenue	$	—		$	—		$	496,214		$	919		$	3,897		$	32,638		$	468,342	$	303,457	$	1,305,469

Operating Expenses	$	17		$	—		$	21,189		$	5,741		$	12,651		$	71,837		$	360,648	$	77,547	$	549,629
Total DD&A Expense		232			345			42,492			2,528			928			10,062			18		18		56,622
Impairment of Oil and Gas Properties		—			—			—			—			—			—			—		—		—
Goodwill Impairment Loss		—			—			—			—			—			—			—		—		—
General & Administrative Expense		—			—			—			29,325			225			—			—		—		29,550

Total Expenses	$	249		$	345		$	63,680		$	37,594		$	13,803		$	81,899		$	360,666	$	77,565	$	635,801

Operating Profit (Loss)	$	(249	)	$	(345	)	$	432,534		$	(36,675	)	$	(9,906	)	$	(49,261	)	$	107,677	$	225,893	$	669,667

Gain/Loss on Derivative Instruments	$	—		$	—		$	—		$	—		$	—		$	—		$	—	$	—	$	—
Total Interest Expense		—			(20,906	)		(10,453	)		(11,048	)		—			—			—		—		(42,407	)
Interest Income		—			—			—			—			—			—			—		—		—
Transaction Costs		—			—			—			—			—			—			—		—		—
Total Letter of Credit Fees		—			—			—			—			—			—			—		—		—
Foreign Currency Exchange (Gain) Loss		—			—			—			—			—			—			—		—		—
Litigation Settlements		—			—			—			—			—			—			—		—		—
Net Other (Income) Expense		—			—			—			—			—			—			—		—		—

Other Income (Expense)	$	—		$	(20,906	)	$	(10,453	)	$	(11,048	)	$	—		$	—		$	—	$	—	$	(42,407	)

Income (Loss) Before Tax & Preferred Dividends	$	(249	)	$	20,561		$	442,987		$	(25,627	)	$	(9,906	)	$	(49,261	)	$	107,677	$	225,893	$	712,074

Income Tax Expense	$	—		$	—		$	—		$	—		$	—		$	—		$	—	$	—	$	—

Income (Loss) Before Preferred Dividends	$	(249	)	$	20,561		$	442,987		$	(25,627	)	$	(9,906	)	$	(49,261	)	$	107,677	$	225,893	$	712,074

Preferred Stock Dividends	$	—		$	—		$	—		$	—		$	—		$	—		$	—	$	—	$	—

Net Income (Loss)	$	(249	)	$	20,561		$	442,987		$	(25,627	)	$	(9,906	)	$	(49,261	)	$	107,677	$	225,893	$	712,074

Note: The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

Endeavour Operating Corporation Statement of Operations


	October 11, 2014 - October 31, 2014			November 1 2014 - November 30, 2014			December 1, 2014 - December 31, 2014			January 1, 2015 - January 31, 2015			February 1, 2015 - February 28, 2015			March 1, 2015 - March 31, 2015			April 1, 2015 - April 30, 2015			May 1, 2015 - May 31, 2015			Cumulative
Oil Revenue	$	(308	)	$	481,252		$	(489,963	)	$	(216	)	$	2,024		$	701		$	(127	)	$	(418	)	$	(7,055	)
Gas Revenues		267,948			438,012			349,368			256,188			374,934			410,838			214,353			453,435			2,765,076
Liquids Revenues		—			—			—			802			—			—			—			—			802

Revenue	$	267,640		$	919,264		$	(140,595	)	$	256,774		$	376,958		$	411,539		$	214,226		$	453,017		$	2,758,823

Operating Expenses	$	281,826		$	471,302		$	432,921		$	623,127		$	294,828		$	281,137		$	370,448		$	225,885		$	2,981,472
Total DD&A Expense		76,954			148,293			63,284			97,125			145,069			581,347			4,099			4,149			1,120,320
Impairment of Oil and Gas Properties		—			—			68,573,000			—			—			—			—			—			68,573,000
Goodwill Impairment Loss		—			—			—			—			—			—			—			—			—
General & Administrative Expense		12,943			45,837			1,680,677			(8,390	)		75,025			(40,320	)		21,036			14,273			1,801,082

Total Expenses	$	371,723		$	665,433		$	70,749,882		$	711,862		$	514,922		$	822,163		$	395,582		$	244,306		$	74,475,874

Operating Profit (Loss)	$	(104,083	)	$	253,831		$	(70,890,477	)	$	(455,088	)	$	(137,965	)	$	(410,625	)	$	(181,356	)	$	208,711		$	(71,717,051	)

Gain/Loss on Derivative Instruments	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Interest Expense		3,753,039			5,182,950			5,361,244			5,354,472			5,540,000			5,540,000			5,540,000			5,540,001			41,811,706
Interest Income		(3,387,097	)		(5,000,000	)		(5,000,000	)		(5,000,000	)		(5,000,000	)		(5,000,000	)		(5,000,000	)		(5,000,000	)		(38,387,097	)
Transaction Costs		2,326,801			13,968			(694,630	)		37,676			252			6,716			—			53,773			1,744,556
Total Letter of Credit Fees		—			—			—			—			—			—			—			—			—
Foreign Currency Exchange (Gain) Loss		152			360			70			(0	)		—			—			—			62			644
Litigation Settlements		—			—			—			—			—			—			—			—			—
Net Other (Income) Expense		(127,363	)		—			9,075,275			884,239			1,962,366			5,238,862			300,634			335,903			17,669,917

Other Income (Expense)	$	2,565,532		$	197,278		$	8,741,959		$	1,276,387		$	2,502,618		$	5,785,578		$	840,634		$	929,739		$	22,839,726

Income (Loss) Before Tax & Preferred Dividends	$	(2,669,615	)	$	56,553		$	(79,632,436	)	$	(1,731,475	)	$	(2,640,583	)	$	(6,196,202	)	$	(1,021,991	)	$	(721,028	)	$	(94,556,777	)

Income Tax Expense	$	—		$	50		$	(50	)	$	—		$	—		$	—		$	—		$	—		$	—

Income (Loss) Before Preferred Dividends	$	(2,669,615	)	$	56,503		$	(79,632,386	)	$	(1,731,475	)	$	(2,640,583	)	$	(6,196,202	)	$	(1,021,991	)	$	(721,028	)	$	(94,556,777	)

Preferred Stock Dividends	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Net Income (Loss)	$	(2,669,615	)	$	56,503		$	(79,632,386	)	$	(1,731,475	)	$	(2,640,583	)	$	(6,196,202	)	$	(1,021,991	)	$	(721,028	)	$	(94,556,777	)

Note: The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.


In re: Endeavour Operating Corporation, et. al		Case No. 14-12308
Debtors		Reporting Period: 5/1/2015 – 5/31/2015

BALANCE SHEET

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.


ASSETS CURRENT ASSETS	BOOK VALUE AT END OF CURRENT REPORTING MONTH		BOOK VALUE ON PETITION DATE
Unrestricted Cash and Equivalents		SEE ATTACHED EXHIBIT C
Restricted Cash and Cash Equivalents (see continuation sheet)
Accounts Receivable (Net)
Notes Receivable
Inventories
Prepaid Expenses
Professional Retainers
Other Current Assets (attach schedule)

*TOTAL CURRENT ASSETS*	$		$

PROPERTY AND EQUIPMENT
Real Property and Improvements
Machinery and Equipment
Furniture, Fixtures and Office Equipment
Leasehold Improvements
Vehicles
Less Accumulated Depreciation

*TOTAL PROPERTY & EQUIPMENT*	$		$

OTHER ASSETS
Loans to Insiders*
Other Assets (attach schedule)

*TOTAL OTHER ASSETS*	$		$

TOTAL ASSETS	$		$


LIABILITIES AND OWNER EQUITY LIABILITIES NOT SUBJECT TO COMPROMISE	BOOK VALUE AT END OF CURRENT REPORTING MONTH	BOOK VALUE ON PETITION DATE
Accounts Payable
Taxes Payable (refer to FORM MOR-4)
Wages Payable
Notes Payable
Rent/Leases - Building/Equipment
Secured Debt/Adequate Protection Payments
Professional Fees
Amounts Due to Insiders*
Other Postpetition Liabilities (attach schedule)

*TOTAL POSTPETITION LIABILITIES*	$	$

*LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)*
Secured Debt
Priority Debt
Unsecured Debt

*TOTAL PRE-PETITION LIABILITIES*


*TOTAL LIABILITIES*	$	$

*OWNER EQUITY*
Capital Stock
Additional Paid-In Capital
Partners’ Capital Account
Owner’s Equity Account
Retained Earnings - Pre-Petition
Retained Earnings - Postpetition
Adjustments to Owner Equity (attach schedule)
Postpetition Contributions (Distributions)(Draws)(attach schedule)
NET OWNER EQUITY	$	$

TOTAL LIABILITIES AND OWNERS’ EQUITY	$	$

EXHIBIT C

Endeavour International Corporation Balance Sheet


	Petition Date October 11, 2014			October 31, 2014			November 30, 2014			December 31, 2014			January 31, 2015			February 28, 2015			March 31, 2015			April 30, 2015			May 31, 2015
Cash & Cash Equivalents	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Restricted Cash - Current		—			—			—			—			—			—			—			—			—
Accounts Receivables		—			—			—			—			—			—			—			—			—
Intercompany Receivables		463,221,370			469,404,392			475,419,391			477,350,624			483,038,721			488,997,400			494,130,065			500,025,854			505,924,786
Total Other Current Assets		16,871,752			16,719,198			16,717,707			—			—			—			—			—			—

Current Assets	$	480,093,122		$	486,123,590		$	492,137,098		$	477,350,624		$	483,038,721		$	488,997,400		$	494,130,065		$	500,025,854		$	505,924,786

Property, Plant & Equipment	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Investments		57,661,973			57,661,973			57,661,973			57,661,973			57,661,973			57,661,973			57,661,973			57,661,973			57,661,973
Goodwill		—			—			—			—			—			—			—			—			—
Restricted Cash		—			—			—			—			—			—			—			—			—
Other Assets		—			—			—			—			—			—			—			—			—
Long-Term Intercompany		554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000

Long Term Assets	$	611,661,973		$	611,661,973		$	611,661,973		$	611,661,973		$	611,661,973		$	611,661,973		$	611,661,973		$	611,661,973		$	611,661,973

Total Assets	$	1,091,755,095		$	1,097,785,563		$	1,103,799,071		$	1,089,012,597		$	1,094,700,694		$	1,100,659,372		$	1,105,792,038		$	1,111,687,826		$	1,117,586,759


Total Accounts Payable	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Accrued Expenses		42,710,167			44,782,107			44,950,450			43,188,655			43,176,804			43,369,928			43,424,804			43,626,804			43,828,804
Current Maturities Of Debt		693,488,257			693,598,349			693,598,349			706,500,000			—			—			—			—			—
Current Portion - Production Payment		—			—			—			—			—			—			—			—			—
Debtor in Possession		—			—			—			1,915,460			—			—			—			—			—
Liabilities Subject to Compromise		—			—			—			—			708,415,460			708,415,460			708,415,460			708,415,460			708,415,460
Taxes Payable		—			—			—			—			—			—			—			—			—
Intercompany Payable		709,209			669,430			648,349			648,349			648,349			648,349			648,349			648,349			648,349
Total Other Current Liabilities		—			—			—			—			—			—			—			—			—

Current Liabilities	$	736,907,633		$	739,049,885		$	739,197,148		$	752,252,465		$	752,240,614		$	752,433,738		$	752,488,614		$	752,690,614		$	752,892,614

Long-Term Debt	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Deferred Tax Liability		—			—			—			—			—			—			—			—			—
ARO Liability		—			—			—			—			—			—			—			—			—
Long Term - Production Payment		—			—			—			—			—			—			—			—			—
Long Term Intercompany		—			—			—			—			—			—			—			—			—
Other Long Term Liabilities		—			—			—			—			—			—			—			—			—

Total Liabilities	$	736,907,633		$	739,049,885		$	739,197,148		$	752,252,465		$	752,240,614		$	752,433,738		$	752,488,614		$	752,690,614		$	752,892,614

Redeemable Preferred Stock	$	17,481,175		$	17,481,175		$	17,481,175		$	17,481,175		$	17,481,175		$	17,481,175		$	17,481,175		$	17,481,175		$	17,481,175

Preferred Stock	$	20		$	20		$	20		$	20		$	20		$	20		$	20		$	20		$	20
Common Stock		53,016			53,013			53,013			52,895			52,895			52,895			52,895			52,895			52,842
APIC		560,004,803			560,004,806			560,883,928			557,110,678			557,268,612			557,515,934			557,071,783			557,224,192			557,386,660
Treasury Stock		(586,841	)		(586,841	)		(586,841	)		(586,841	)		(586,841	)		(586,841	)		(586,841	)		(586,841	)		(586,841	)
Accumulated Earnings (Deficit)		(222,104,712	)		(218,216,496	)		(213,229,373	)		(237,297,795	)		(231,755,782	)		(226,237,548	)		(220,715,608	)		(215,174,228	)		(209,639,711	)

Stockholders’ Equity	$	337,366,286		$	341,254,503		$	347,120,748		$	319,278,957		$	324,978,905		$	330,744,460		$	335,822,249		$	341,516,038		$	347,212,970

Total Liabilities & Stockholders’ Equity	$	1,091,755,093		$	1,097,785,563		$	1,103,799,071		$	1,089,012,597		$	1,094,700,694		$	1,100,659,372		$	1,105,792,038		$	1,111,687,826		$	1,117,586,759

Notes:

•

The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

•

The balance found in the account titled “Current Maturities of Debt” was moved to the more appropriately named “Liabilities Subject to Compromise” account for presentation purposes beginning January 2015.

Endeavour Energy Luxembourg Sarl Balance Sheet


	Petition Date October 11, 2014			October 31, 2014			November 30, 2014			December 31, 2014			January 31, 2015			February 28, 2015			March 31, 2015			April 30, 2015			May 31, 2015
Cash & Cash Equivalents	$	46,203		$	45,899		$	30,273		$	11,303		$	11,302		$	11,302		$	9,490		$	10,202		$	10,204
Restricted Cash - Current		—			—			—			—			—			—			—			—			—
Accounts Receivables		—			—			—			—			—			—			—			—			—
Intercompany Receivables		—			—			—			—			—			—			—			—			—
Total Other Current Assets		233,073			228,730			228,730			—			—			—			—			—			—

Current Assets	$	279,276		$	274,629		$	259,003		$	11,303		$	11,302		$	11,302		$	9,490		$	10,202		$	10,204

Property, Plant & Equipment	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Investments		—			—			—			—			—			—			—			—			—
Goodwill		—			—			—			—			—			—			—			—			—
Restricted Cash		—			—			—			—			—			—			—			—			—
Other Assets		2,657,667			2,708,461			2,708,461			—			—			—			—			—			—
Long-Term Intercompany		78,245,339			78,245,339			78,245,339			83,801,266			83,801,266			83,801,266			83,801,266			83,801,266			83,801,266

Long Term Assets	$	80,903,006		$	80,953,800		$	80,953,800		$	83,801,266		$	83,801,266		$	83,801,266		$	83,801,266		$	83,801,266		$	83,801,266

Total Assets	$	81,182,282		$	81,228,430		$	81,212,803		$	83,812,569		$	83,812,568		$	83,812,568		$	83,810,756		$	83,811,468		$	83,811,470


Total Accounts Payable	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Accrued Expenses		—			174,471			174,471			174,471			174,471			174,471			174,471			174,471			174,471
Current Maturities Of Debt		82,662,396			82,682,642			82,682,642			83,746,069			—			—			—			—			—
Current Portion - Production Payment		—			—			—			—			—			—			—			—			—
Debtor in Possession		—			—			—			—			—			—			—			—			—
Liabilities Subject to Compromise		—			—			—			—			83,746,069			83,746,069			83,746,069			83,746,069			83,746,069
Taxes Payable		55,473			55,007			54,687			74,399			74,399			74,399			69,436			65,992			67,560
Intercompany Payable		3,094,582			3,169,755			3,169,755			3,253,935			3,253,935			3,268,642			3,268,642			3,271,683			3,271,683
Total Other Current Liabilities		—			—			—			—			—			—			—			—			—

Current Liabilities	$	85,812,451		$	86,081,875		$	86,081,554		$	87,248,874		$	87,248,874		$	87,263,581		$	87,258,618		$	87,258,215		$	87,259,783

Long-Term Debt	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Deferred Tax Liability		—			—			—			—			—			—			—			—			—
ARO Liability		—			—			—			—			—			—			—			—			—
Long Term - Production Payment		—			—			—			—			—			—			—			—			—
Long Term Intercompany		—			—			—			—			—			—			—			—			—
Other Long Term Liabilities		—			—			—			—			—			—			—			—			—

Total Liabilities	$	85,812,451		$	86,081,875		$	86,081,554		$	87,248,874		$	87,248,874		$	87,263,581		$	87,258,618		$	87,258,215		$	87,259,783

Redeemable Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Common Stock		—			—			—			—			—			—			—			—			—
APIC		37,485			37,485			37,485			37,485			37,485			37,485			37,485			37,485			37,485
Treasury Stock		—			—			—			—			—			—			—			—			—
Accumulated Earnings (Deficit)		(4,667,654	)		(4,890,930	)		(4,906,236	)		(3,473,790	)		(3,473,791	)		(3,488,498	)		(3,485,347	)		(3,484,233	)		(3,485,799	)

Stockholders’ Equity	$	(4,630,169	)	$	(4,853,445	)	$	(4,868,751	)	$	(3,436,305	)	$	(3,436,306	)	$	(3,451,013	)	$	(3,447,862	)	$	(3,446,748	)	$	(3,448,314	)

Total Liabilities & Stockholders’ Equity	$	81,182,282		$	81,228,430		$	81,212,803		$	83,812,569		$	83,812,568		$	83,812,568		$	83,810,756		$	83,811,468		$	83,811,470

Notes:

•

The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

•

Endeavour New Ventures, Inc. Balance Sheet


	Petition Date October 11, 2014			October 31, 2014			November 30, 2014			December 31, 2014			January 31, 2015			January 31, 2015			March 31, 2015			April 30, 2015			May 31, 2015
Cash & Cash Equivalents	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Restricted Cash - Current		—			—			—			—			—			—			—			—			—
Accounts Receivables		—			—			—			—			—			—			—			—			—
Intercompany Receivables		280,153			280,153			280,153			280,153			280,153			279,928			279,928			279,928			279,928
Total Other Current Assets		—			—			—			—			—			—			—			—			—

Current Assets	$	280,153		$	280,153		$	280,153		$	280,153		$	280,153		$	279,928		$	279,928		$	279,928		$	279,928

Property, Plant & Equipment	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Investments		—			—			—			—			—			—			—			—			—
Goodwill		—			—			—			—			—			—			—			—			—
Restricted Cash		—			—			—			—			—			—			—			—			—
Other Assets		—			—			—			—			—			—			—			—			—
Long-Term Intercompany		—			—			—			—			—			—			—			—			—

Long Term Assets	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Total Assets	$	280,153		$	280,153		$	280,153		$	280,153		$	280,153		$	279,928		$	279,928		$	279,928		$	279,928


Total Accounts Payable	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Accrued Expenses		—			—			—			—			—			—			—			—			—
Current Maturities Of Debt		—			—			—			—			—			—			—			—			—
Current Portion - Production Payment		—			—			—			—			—			—			—			—			—
Debtor in Possession		—			—			—			—			—
Liabilities Subject to Compromise		—			—			—			—			—			—			—			—			—
Taxes Payable		—			—			—			—			—			—			—			—			—
Intercompany Payable		—			—			—			—			—			—			—			—			—
Total Other Current Liabilities		—			—			—			—			—			—			—			—			—

Current Liabilities	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Long-Term Debt	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Deferred Tax Liability		—			—			—			—			—			—			—			—			—
ARO Liability		—			—			—			—			—			—			—			—			—
Long Term - Production Payment		—			—			—			—			—			—			—			—			—
Long Term Intercompany		—			—			—			—			—			—			—			—			—
Other Long Term Liabilities		—			—			—			—			—			—			—			—			—

Total Liabilities	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Redeemable Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Common Stock		1			1			1			1			1			1			1			1			1
APIC		3,478,898			3,478,898			3,478,898			3,478,898			3,478,898			3,478,898			3,478,898			3,478,898			3,478,898
Treasury Stock		—			—			—			—			—			—			—			—			—
Accumulated Earnings (Deficit)		(3,198,746	)		(3,198,746	)		(3,198,746	)		(3,198,746	)		(3,198,746	)		(3,198,971	)		(3,198,971	)		(3,198,971	)		(3,198,971	)

Stockholders’ Equity	$	280,153		$	280,153		$	280,153		$	280,153		$	280,153		$	279,928		$	279,928		$	279,928		$	279,928

Total Liabilities & Stockholders’ Equity	$	280,153		$	280,153		$	280,153		$	280,153		$	280,153		$	279,928		$	279,928		$	279,928		$	279,928

Notes:

•

The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

•

Endeavour Management Company Balance Sheet


	Petition Date October 11, 2014			October 31, 2014			November 30, 2014			December 31, 2014			January 31, 2015			February 28, 2015			March 31, 2015			April 30, 2015			May 31, 2015
Cash & Cash Equivalents	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Restricted Cash - Current		—			—			—			—			—			—			—			—			—
Accounts Receivables		—			—			—			—			—			—			—			—			—
Intercompany Receivables		648,349			648,349			648,349			648,349			648,349			648,349			522,231			648,349			648,349
Total Other Current Assets		—			—			—			—			—			—			—			—			—

Current Assets	$	648,349		$	648,349		$	648,349		$	648,349		$	648,349		$	648,349		$	522,231		$	648,349		$	648,349

Property, Plant & Equipment	$	2,862,882		$	2,862,882		$	2,862,882		$	2,862,882		$	2,862,882		$	2,862,882		$	—		$	—		$	—
Investments		—			—			—			—			—			—			—			—			—
Goodwill		—			—			—			—			—			—			—			—			—
Restricted Cash		—			—			—			—			—			—			—			—			—
Other Assets		—			—			—			—			—			—			—			—			—
Long-Term Intercompany		—			—			—			—			—			—			—			—			—

Long Term Assets	$	2,862,882		$	2,862,882		$	2,862,882		$	2,862,882		$	2,862,882		$	2,862,882		$	—		$	—		$	—

Total Assets	$	3,511,231		$	3,511,231		$	3,511,231		$	3,511,231		$	3,511,231		$	3,511,231		$	522,231		$	648,349		$	648,349


Total Accounts Payable	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Total Accrued Expenses		—			—			—			—			—			—			—			—			—
Current Maturities Of Debt		—			—			—			—			—			—			—			—			—
Current Portion - Production Payment		—			—			—			—			—			—			—			—			—
Debtor in Possession		—			—			—			—			—			—			—			—			—
Liabilities Subject to Compromise		—			—			—						—			—			—			—			—
Taxes Payable		—			—			—			—			—			—			—			—			—
Intercompany Payable		14,354,530			14,354,530			14,354,530			14,354,530			14,354,530			14,354,755			14,354,755			14,480,873			14,480,873
Total Other Current Liabilities		—			—			—			—			—			—			—			—			—

Current Liabilities	$	14,354,530		$	14,354,530		$	14,354,530		$	14,354,530		$	14,354,530		$	14,354,755		$	14,354,755		$	14,480,873		$	14,480,873

Long-Term Debt	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Deferred Tax Liability		—			—			—			—			—			—			—			—			—
ARO Liability		—			—			—			—			—			—			—			—			—
Long Term - Production Payment		—			—			—			—			—			—			—			—			—
Long Term Intercompany		—			—			—			—			—			—			—			—			—
Other Long Term Liabilities		—			—			—			—			—			—			—			—			—

Total Liabilities	$	14,354,530		$	14,354,530		$	14,354,530		$	14,354,530		$	14,354,530		$	14,354,755		$	14,354,755		$	14,480,873		$	14,480,873

Redeemable Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Common Stock		10			10			10			10			10			10			10			10			10
APIC		15,597,652			15,597,652			15,597,652			15,597,652			15,597,652			15,597,652			15,597,652			15,597,652			15,597,652
Treasury Stock		—			—			—			—			—			—			—			—			—
Accumulated Earnings (Deficit)		(26,440,961	)		(26,440,961	)		(26,440,961	)		(26,440,961	)		(26,440,961	)		(26,441,186	)		(29,430,186	)		(29,430,186	)		(29,430,186	)

Stockholders’ Equity	$	(10,843,299	)	$	(10,843,299	)	$	(10,843,299	)	$	(10,843,299	)	$	(10,843,299	)	$	(10,843,524	)	$	(13,832,524	)	$	(13,832,524	)	$	(13,832,524	)

Total Liabilities & Stockholders’ Equity	$	3,511,231		$	3,511,231		$	3,511,231		$	3,511,231		$	3,511,231		$	3,511,231		$	522,231		$	648,349		$	648,349

Notes:

•

The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

•

Endeavour Colorado Company Balance Sheet


	Petition Date October 11, 2014		October 31, 2014		November 30, 2014		December 31, 2014		January 31, 2015		February 28, 2015		March 31, 2015		April 30, 2015		May 31, 2015
Cash & Cash Equivalents	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Restricted Cash - Current		—		—		—		—		—		—		—		—		—
Accounts Receivables		860,242		982,702		815,021		526,899		—		—		—		—		—
Intercompany Receivables		—		—		—		—		—		—		—		—		—
Total Other Current Assets		—		—		—		626,712		—		—		—		—		—

Current Assets	$	860,242	$	982,702	$	815,021	$	1,153,611	$	—	$	—	$	—	$	—	$	—

Property, Plant & Equipment	$	10,523,683	$	11,307,054	$	11,447,515	$	16,017,972	$	16,265,645	$	16,404,021	$	18,086,588	$	18,018,449	$	17,887,101
Investments		—		—		—		—		—		—		—		—		—
Goodwill		—		—		—		—		—		—		—		—		—
Restricted Cash		—		—		—		—		—		—		—		—		—
Other Assets		—		—		—		—		—		—		—		—		—
Long-Term Intercompany		—		—		—		—		—		—		—		—		—

Long Term Assets	$	10,523,683	$	11,307,054	$	11,447,515	$	16,017,972	$	16,265,645	$	16,404,021	$	18,086,588	$	18,018,449	$	17,887,101

Total Assets	$	11,383,925	$	12,289,756	$	12,262,535	$	17,171,583	$	16,265,645	$	16,404,021	$	18,086,588	$	18,018,449	$	17,887,101


Total Accounts Payable	$	1,011,349	$	1,011,349	$	934,482	$	1,186,181	$	364,456	$	366,657	$	574,629	$	678,648	$	997,621
Total Accrued Expenses		—		839,206		—		—		—		—		—		—		—
Current Maturities Of Debt		—		—		—		—		—		—		—		—		—
Current Portion - Production Payment		—		—		—		—		—		—		—		—		—
Debtor in Possession		—		—		—		—		—		—		—		—		—
Liabilities Subject to Compromise		—		—		—				—		—		—		—		—
Taxes Payable		—		—		—		—		—		—		—		—		—
Intercompany Payable		10,281,092		10,347,742		11,215,688		15,464,045		15,405,109		15,550,834		17,075,344		16,806,539		16,130,308
Total Other Current Liabilities		—		—		—		—		—		—		—		—		—

Current Liabilities	$	11,292,441	$	12,198,298	$	12,150,170	$	16,650,226	$	15,769,565	$	15,917,492	$	17,649,973	$	17,485,187	$	17,127,928

Long-Term Debt	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Deferred Tax Liability		—		—		—		—		—		—		—		—		—
ARO Liability		34,898		35,241		35,587		1,591		1,940		2,297		1,644		1,661		1,679
Long Term - Production Payment		—		—		—		—		—		—		—		—		—
Long Term Intercompany		—		—		—		—		—		—		—		—		—
Other Long Term Liabilities		—		—		—		—		—		—		—		—		—

Total Liabilities	$	11,327,340	$	12,233,538	$	12,185,757	$	16,651,817	$	15,771,506	$	15,919,788	$	17,651,616	$	17,486,848	$	17,129,608

Redeemable Preferred Stock	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Preferred Stock	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Common Stock		—		—		—		—		—		—		—		—		—
APIC		—		—		—		—		—		—		—		—		—
Treasury Stock		—		—		—		—		—		—		—		—		—
Accumulated Earnings (Deficit)		56,585		56,218		76,779		519,766		494,139		484,233		434,972		531,601		757,493

Stockholders’ Equity	$	56,585	$	56,218	$	76,779	$	519,766	$	494,139	$	484,233	$	434,972	$	531,601	$	757,493

Total Liabilities & Stockholders’ Equity	$	11,383,925	$	12,289,756	$	12,262,535	$	17,171,583	$	16,265,645	$	16,404,021	$	18,086,588	$	18,018,449	$	17,887,101

Notes:

•

The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

•

Endeavour Operating Corporation Balance Sheet


	Petition Date October 11, 2014			October 31, 2014			November 30, 2014			December 31, 2014			January 31, 2015			February 28, 2015			March 31, 2015			April 30, 2015			May 31, 2015
Cash & Cash Equivalents	$	41,410,539		$	37,316,408		$	35,239,032		$	32,055,245		$	29,002,562		$	24,155,340		$	17,514,655		$	14,268,254		$	18,935,786
Restricted Cash - Current		50,176			50,176			50,176			50,176			50,176			50,176			50,176			50,176			50,176
Accounts Receivables		2,126,960			2,101,571			2,611,990			1,900,515			2,337,829			1,742,118			2,187,275			2,843,066			3,712,639
Intercompany Receivables		61,615,971			66,690,504			72,558,450			82,537,725			88,130,037			92,709,693			99,457,172			105,098,398			110,573,546
Total Other Current Assets		10,369,454			13,345,465			13,448,658			6,673,012			6,726,111			6,582,546			5,830,349			6,525,917			5,971,795

Current Assets	$	115,573,099		$	119,504,123		$	123,908,305		$	123,216,672		$	126,246,715		$	125,239,872		$	125,039,626		$	128,785,810		$	139,243,941

Property, Plant & Equipment	$	84,304,737		$	84,751,882		$	85,492,092		$	19,637,713		$	32,701,525		$	31,452,274		$	22,115,474		$	11,689,684		$	12,447,217
Investments		238,153,544			238,153,544			238,153,544			238,153,544			238,153,544			238,153,544			238,153,544			238,153,544			238,153,544
Goodwill		—			—			—			—			—			—			—			—			—
Restricted Cash		—			—			—			—			—			—			—			—			—
Other Assets		12,350			10,050			10,050			10,050			10,050			10,050			10,050			10,050			10,050
Long-Term Intercompany		500,000,000			500,000,000			500,000,000			500,000,000			500,000,000			500,000,000			500,000,000			500,000,000			500,000,000

Long Term Assets	$	822,470,631		$	822,915,476		$	823,655,686		$	757,801,306		$	770,865,118		$	769,615,868		$	760,279,067		$	749,853,278		$	750,610,810

Total Assets	$	938,043,730		$	942,419,599		$	947,563,991		$	881,017,979		$	897,111,833		$	894,855,740		$	885,318,693		$	878,639,088		$	889,854,751


Total Accounts Payable	$	575,367		$	1,346,554		$	1,520,837		$	878,456		$	4,777,443		$	794,277		$	2,258,610		$	2,815,320		$	1,650,494
Total Accrued Expenses		1,504,800			1,633,618			1,762,435			5,870,394			5,679,718			5,556,293			5,961,693			2,763,849			2,637,822
Current Maturities Of Debt		—			—			—			—			—			—			—			—			—
Current Portion - Production Payment		—			—			—			—			—			—			—			—			—
Debtor in Possession		—			—			194,814			5,893,145			—			—			—			—			—
Liabilities Subject to Compromise		—			—			—						5,925,519			5,926,239			5,935,117			5,957,946			5,960,344
Taxes Payable		8,824			9,053			16,651			(18,501	)		8,401			15,007			6,287			6,169			5,760
Intercompany Payable		561,781,032			568,388,412			572,929,474			581,884,847			586,047,741			590,526,527			595,208,315			600,210,972			612,572,102
Total Other Current Liabilities		1,100,256			1,100,256			1,100,256			41,415			41,415			41,415			41,415			41,415			41,415

Current Liabilities	$	564,970,279		$	572,477,892		$	577,524,467		$	594,549,755		$	602,480,237		$	602,859,758		$	609,411,437		$	611,795,671		$	622,867,939

Long-Term Debt	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Deferred Tax Liability		—			—			—			—			—			—			—			—			—
ARO Liability		426,278			428,707			434,060			295,290			301,521			307,874			307,267			311,366			315,515
Long Term - Production Payment		—			—			—			—			—			—			—			—			—
Long Term Intercompany		554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000			554,000,000
Other Long Term Liabilities		3,866,507			3,902,468			3,938,429			138,285			136,901			135,517			134,133			132,749			131,365

Total Liabilities	$	1,123,263,064		$	1,130,809,067		$	1,135,896,956		$	1,148,983,330		$	1,156,918,659		$	1,157,303,149		$	1,163,852,837		$	1,166,239,786		$	1,177,314,818

Redeemable Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Preferred Stock	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Common Stock		1,000			1,000			1,000			1,000			1,000			1,000			1,000			1,000			1,000
APIC		57,660,973			57,660,973			57,660,973			57,660,973			57,660,973			57,660,973			57,660,973			57,660,973			57,660,973
Treasury Stock		—			—			—			—			—			—			—			—			—
Accumulated Earnings (Deficit)		(242,881,307	)		(246,051,441	)		(245,994,938	)		(325,627,324	)		(317,468,799	)		(320,109,382	)		(336,196,116	)		(345,262,671	)		(345,122,040	)

Stockholders’ Equity	$	(185,219,334	)	$	(188,389,468	)	$	(188,332,965	)	$	(267,965,351	)	$	(259,806,826	)	$	(262,447,409	)	$	(278,534,143	)	$	(287,600,698	)	$	(287,460,067	)

Total Liabilities & Stockholders’ Equity	$	938,043,730		$	942,419,599		$	947,563,991		$	881,017,979		$	897,111,833		$	894,855,740		$	885,318,693		$	878,639,088		$	889,854,751

Notes:

•

The financial statements for December and January have been restated to reflect adjustments associated with year-end audit and year-end closing procedures.

•


In re: Endeavour Operating Corporation, et al.		Case No. 14-12308
Debtors		Reporting Period: 5/1/15 – 5/31/15

STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.

Attach photocopies of any tax returns filed during the reporting period.


Federal	Beginning Tax Liability		Amount Withheld or Accrued		Amount Paid		Date Paid	Check No. or EFT		Ending Tax Liability
Withholding	$	0	$	0	$	0				$	0
FICA-Employee	$	0	$	0	$	0				$	0
FICA-Employer	$	0	$	0	$	0				$	0
Unemployment	$	0	$	0	$	0				$	0
Income	$	0	$	0	$	0				$	0
Other:	$	0	$	0	$	0				$	0

Total Federal Taxes	$	0	$	0	$	0				$	0

State and Local
Withholding	$	0	$	0	$	0				$	0
Sales	$	0	$	0	$	0				$	0
Excise	$	0	$	0	$	0				$	0
Unemployment	$	0	$	0	$	0				$	0
Real Property	$	0	$	0	$	0				$	0
Personal Property	$	0	$	0	$	0				$	0
Other: Severance Tax	$	10,666.24	$	11,376.45	$	5,887.97	5/26/2015		008***280	$	16,145.72

Total State and Local	$	0	$	0	$	0				$	0

Total Taxes	$	10,666.24	$	11,376.45	$	5,887.97				$	16,145.72

NOTE: The Company accrues for severance taxes on a quarterly basis. The average severance taxes incurred based on production is $7,000/month.


In re Endeavour Operating Corporation, et al.		Case No. 14-12308
Debtors		Reporting Period: 5/1/2015 – 5/31/2015

SUMMARY OF UNPAID POSTPETITION DEBTS

See attached aged listing of accounts payable.


Number of Days Past Due
	Current		0-30		31-60		61-90		Over 90		Total
Accounts Payable	$	92,442.51	$	24,361.51	$	8,044.20	$	2,161.20	$	0	$	127,009.42
Wages Payable
Taxes Payable
Rent/Leases-Building
Rent/Leases-Equipment
Secured Debt/Adequate Protection Payments
Professional Fees	$	31,615.08	$	139,208.10	$	337,318.34	$	295,821.62	$	423,066.56	$	1,227,029.69
Amounts Due to Insiders*
Other:
Other:

Total Postpetition Debts	$	124,057.59	$	163,569.61	$	345,362.54	$	297,982.82	$	423,066.56	$	1,354,039.11

*	“Insider” is defined in 11 U.S.C. Section 101(31).

Endeavour Operating Corp

Payables Aging Report


	Days Past Due
Accounts Payable: Vendor	Balance at May 31, 2015		Current		0-30		31-60		61-90		90+
WILL-DRILL OPERATING LLC¹		1,529.86		577.36		—		—		952.50		—
BLAC-FRAC TANKS, INC.		3,876.51		—		3,876.51		—		—		—
Big D’s Pumping, Inc.¹		7,933.00		—		—		7,933.00		—		—
DALBO, INC		13,544.85		13,544.85		—		—		—		—
R & T Oilfield Services, Inc.		7,275.00		7,275.00		—		—		—		—
Connell Resources, Inc		2,651.43		2,651.43		—		—		—		—
Cameron International Corporation		697.27		697.27		—		—		—		—
Split Mountain Pipe & Supply, Inc		1,164.82		1,164.82		—		—		—		—
Diamondback Field Service, Inc¹		20,485.00		—		20,485.00		—		—		—
Darrell C. Aplanalp		1,020.00		1,020.00		—		—		—		—
Abutec Industries Inc.		3,727.50		3,727.50		—		—		—		—
FedEx¹		220.03		108.83		—		111.20		—		—
AT&T Long Distance		131.75		131.75		—		—		—		—
Tejas Office Products Inc¹		1,208.70		—		—		—		1,208.70		—
Merrill Communications LLC		2,317.43		2,317.43		—		—		—		—
Goode Systems & Consulting, Inc		548.83		548.83		—		—		—		—
Time Warner Telecom		13,042.66		13,042.66		—		—		—		—
Shred-it		71.09		71.09		—		—		—		—
Thomson Tax & Accounting Inc		527.67		527.67		—		—		—		—
RR Donnelley Receivables, Inc.		580.00		580.00		—		—		—		—
Long View Systems Corporation (USA)		46.80		46.80		—		—		—		—
Haymarket Media, Inc-c/o Compliance Week		3,499.00		3,499.00		—		—		—		—
ProStar Services		147.62		147.62		—		—		—		—
MLN Service Company, Inc		405.94		405.94		—		—		—		—
Staples		382.71		382.71		—		—		—		—
Konica Minolta		1,188.34		1,188.34		—		—		—		—
Kelley Pruetz		684.10		684.10		—		—		—		—
Miller Advertising Agency, Inc		37,031.49		37,031.49		—		—		—		—
BG Finance and Accounting Inc		421.60		421.60		—		—		—		—
AVSI Group LLC		648.42		648.42		—		—		—		—

Total Accounts Payable	$	127,009.42	$	92,442.51	$	24,361.51	$	8,044.20	$	2,161.20	$	—


	Days Past Due
Professional Fees Payable: Vendor	Balance at May 31, 2015		Current		0-30		31-60		61-90		90+
Bayard, P.A.³		9,384.20		—		9,384.20		—		—		—
Wilmington Trust, National Association³		17,499.14		—		—		7,730.53		—		9,768.61
ARENT FOX LLP³		153,093.15		—		—		63,983.12		—		89,110.03
GrantThornton (US)²		77,118.00		—		55,531.00		21,587.00		—		—
Richards, Layton & Finger, P.A.³		59,395.70		—		6,039.90		53,355.80		—		—
FTI Consulting³		85,052.51		—		—		10,300.25		—		74,752.26
Ernst & Young (USD)³		166,383.27		—				—		80,418.11		85,965.16
Blackstone Advisory Partners LP³		79,151.54		—		—		44,151.54		35,000.00		—
Greenberg Traurig, LLP		5,991.98		5,991.98		—		—		—		—


	Days Past Due
Professional Fees Payable *(continued): Vendor*	Balance at May 31, 2015		Current		0-30		31-60		61-90		90+
Weil, Gotshal & Manges LLP³		545,009.25		—		68,253.00		136,210.10		177,075.66		163,470.50
Thompson & Knight LLP		25,623.10		25,623.10		—		—		—		—
Polsinelli PC³		3,327.85		—		—		—		3,327.85		—

Total Professional Fees Payable	$	1,227,029.69	$	31,615.08	$	139,208.10	$	337,318.34	$	295,821.62	$	423,066.56



Grand Total	$	1,354,039.11	$	124,057.59	$	163,569.61	$	345,362.54	$	297,982.82	$	423,066.56

¹	The invoices related to these outstanding payable balances were dated as due either on or prior to the date they were received by Endeavour thus the “past due” designation. The invoices will be paid in the ordinary course of business.

²	The “past due” balances outstanding with these respective professionals are due to invoice totals greater than the $50,000 monthly threshold allotted to ordinary course professional payments per month. The outstanding balances will continue to be paid based on these guidelines.

³	The “past due” balances outstanding with these respective professionals are the 20% hold amounts related to the various retention orders entered into by the bankruptcy professionals. Once the hold period passes, the invoices will be paid in the ordinary course of business.


In re: Endeavour Operating Corporation, et al		Case No. 14-12308
Debtors		Reporting Period: 5/1/2015 – 5/31/2015

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation	Amount
Total Accounts Receivable at the beginning of the reporting period			$	2,843,065.81

+ Amounts billed during the period	$	1,242,856.00
- Amounts collected during the period	$	373,283.13

Total Accounts Receivable at the end of the reporting period			$	3,712,638.68


Accounts Receivable Aging
0 - 30 days old			$	2,223,184.48
31 - 60 days old			$	527,617.84
61 - 90 days old			$	784,267.82
91+ days old			$	177,568.54

Total Accounts Receivable			$	3,712.638.68

Amount considered uncollectible (Bad Debt)			$	0
Accounts Receivable (Net)			$	3,712.638.68

DEBTOR QUESTIONNAIRE


Must be completed each month		Yes	No
1.	Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X

2.	Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X

3.	Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X

4.	Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X

5.	Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

Dated: June 30, 2015

Respectfully submitted,

/s/ Catherine L. Stubbs

Catherine L. Stubbs

Senior Vice President & CFO