Attached files
file | filename |
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8-K - FORM 8-K - ENDEAVOUR INTERNATIONAL CORP | h83694e8vk.htm |
EX-4.1 - EX-4.1 - ENDEAVOUR INTERNATIONAL CORP | h83694exv4w1.htm |
EX-10.1 - EX-10.1 - ENDEAVOUR INTERNATIONAL CORP | h83694exv10w1.htm |
Exhibit 99.1

For immediate release
Endeavour Announces Closing of Convertible Notes Offering and Full Exercise of Over-Allotment
Option
Houston, July 22, 2011 Endeavour International Corporation (NYSE: END) (LSE:
ENDV) today announced the closing of its previously-announced private placement of $135 million
aggregate principal amount of 5.5% convertible senior notes due 2016 (the 2016 Notes), which
includes the full exercise by the initial purchasers of their option to purchase an additional $15
million principal amount of the 2016 Notes. Endeavour intends to use substantially all of the net
proceeds of this offering to fund its pending acquisition of acreage and related midstream assets
in the Marcellus shale play. The remainder will be used for general corporate purposes.
This press release is neither an offer to sell nor the solicitation of an offer to buy the 2016
Notes or any other securities. The 2016 Notes were offered to qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933 (the Securities Act). The 2016 Notes have
not been registered under the Securities Act and may not be offered or sold in the United States
without registration or an applicable exemption from registration requirements. This announcement
is being issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to
sell or the solicitation of an offer to buy any securities.
This press release contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements include statements that express a belief, expectation, or intention, as
well as those that are not statements of historical fact, and may include projections and estimates
concerning the timing and success of specific projects and our future production, revenues, income
and capital spending. Our forward-looking statements are generally accompanied by words such as
estimate, project, predict, believe, expect, anticipate, potential, plan, goal or
other words that convey the uncertainty of future events or outcomes. We caution you not to rely
on them unduly. We have based these forward-looking statements on our current expectations and
assumptions about future events. While our management considers these expectations and assumptions
to be reasonable, they are inherently subject to significant business, economic, competitive,
regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict
and many of which are beyond our control. These risks, contingencies and uncertainties, which may
not be exhaustive, relate to, among other matters, the following: discovery, estimation,
development and replacement of oil and gas reserves; decreases in proved reserves due to technical
or economic factors; drilling of wells and other planned exploitation activities; timing and amount
of future production of oil and gas; the volatility of oil and gas prices; availability and terms
of capital; operating costs such as lease operating expenses, administrative costs and other
expenses; our future operating or financial results; amount, nature and timing of capital
expenditures, including future development costs; cash flow and anticipated liquidity; availability
of drilling and production equipment; uncertainties related to drilling and production operations
in a new region; cost and access to natural gas gathering, treatment and pipeline facilities;
business strategy and the availability of acquisition opportunities; and factors not
Exhibit 99.1
known to us at this time. Any of these factors, or any combination of these factors, could
materially affect our future financial condition or results of operations and the ultimate accuracy
of a forward-looking statement. The forward-looking statements are not guarantees of our future
performance, and our actual results and future developments may differ materially from those
projected in the forward-looking statements. In addition, any or all of our forward-looking
statements included in this release may turn out to be incorrect. They can be affected by
inaccurate assumptions we might make or by known or unknown risks and uncertainties, including
those included in our Annual Report on Form 10-K for the year ended December 31, 2010. There can
be no assurance that we will complete the Marcellus acquisition.
Endeavour International Corporation is an international oil and gas exploration and production
company focused on the acquisition, exploration and development of energy reserves in the North Sea
and United States. For more information, visit http://www.endeavourcorp.com.
For further information:
Endeavour Investor Relations | ||
Mike Kirksey
|
713-307-8700 | |
Darcey Matthews
|
713-807-8711 |