HOUSTON, February 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
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 of
as of the date made. Such statements are subject to assumptions,
risk and uncertainty. Actual results or events may vary
materially.