Endeavour Completes Financing Transaction
February 08 2010 - 7:00AM
UK Regulatory
TIDMENDV
Endeavour Completes Financing Transaction
HOUSTON, Feb. 8 -- Endeavour International Corporation (NYSE Amex: END)
(LSE: ENDV) today announced the closing of a new $25 million (USD) lending
facility with Bank of Scotland PLC.
"The proceeds of this new facility together with the $20 million private
equity placement announced last week will supplement the company's cash flow
to accelerate our new initiative to explore gas shale plays in the United
States while we continue to develop three significant growth potential assets
in our North Sea portfolio in the United Kingdom," said William L. Transier,
chairman, chief executive officer and president.
The new facility bears interest of Libor plus 800 basis points for a
one-year term.
Endeavour International Corporation is an oil and gas exploration and
production company focused on the acquisition, exploration and development of
energy reserves in the North Sea and the United States. For more information,
visit http://www.endeavourcorp.com.
Certain statements in this news release should be regarded as
"forward-looking" statements within the meaning of the securities laws. These
statements speak only as of the date made. Such statements are subject to
assumptions, risk and uncertainty. Actual results or events may vary
materially.
SOURCE Endeavour International Corporation
CONTACT: Investor Relations, Mike Kirksey of Endeavour, +44 (0) 207 451
2364, or +1-713-307-8788; or Jeffrey Auld of Canaccord Adams - UK Broker, +
44 (0) 207 050 6500; or UK Media, Philip Dennis, +44 (0) 207 743 6363, or
Henry Lerwill, +44 (0) 203 178 6242, both of Pelham Public Relations
END
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