Endeavour Closes on Private Placement Offering
February 24 2012 - 2:01AM
UK Regulatory
TIDMENDV
Endeavour Announces Closing of Private Placement Offering
HOUSTON, Feb. 24, 2012 -- 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
CONTACT: Endeavour - Investor Relations, Mike Kirksey, +1-713-307-8700,
or Darcey Matthews, +1-713-807-8711
END
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