HOUSTON, Feb. 23, 2012 /PRNewswire/ -- Endeavour
International Corporation (NYSE: END) (LSE: ENDV) today announced
the closing of its previously announced private placement of
$350 million aggregate principal
amount of 12% first priority notes due 2018 (the "First Priority
Notes") and $150 million aggregate
principal amount of 12% second priority notes due 2018 (the "Second
Priority Notes," and, together with the First Priority Notes, the
"2018 Notes"). The Company intends to use the net proceeds
from the offering to fund its previously announced acquisition of
interests in three oil fields in the United Kingdom North Sea, to
repay all amounts outstanding under its Senior Term Loan due 2013
and for general corporate purposes.
This press release is neither an offer to sell nor the
solicitation of an offer to buy the 2018 Notes or any other
securities. The 2018 Notes were offered to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act of 1933 (the "Securities Act") and outside the United States in reliance on Regulation S
under the Securities Act. The 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.
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
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 of 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