ENDV Completes Acquisition of Working Interest in Alba
June 01 2012 - 2:00AM
UK Regulatory
TIDMENDV
Endeavour Announces the Completion of the Additional Working Interest in the
Alba Field
HOUSTON, June 1, 2012 -- Endeavour International Corporation
(NYSE: END) (LSE: ENDV) today announced that it had completed the acquisition
of the additional 23.43% working interest in the Alba field from
ConocoPhillips.
The Alba oil field, located in Block 16/26a, in the Central North Sea is a late
Eocene reservoir that has been producing since 1994. Endeavour's newly acquired
working interest combined with its previous ownership position takes the
company's total working interest in the field to 25.68%.
As a result of the completion of the additional working interest in the Alba
field, the net proceeds from the 2018 Notes offering have been released from
escrow. The proceeds have been used to fund the acquisition and to repay
outstanding amounts under the Senior Term Loan.
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/ .
SOURCE Endeavour International Corporation
CONTACT: Endeavour - Investor Relations, Mike Kirksey, +1-713-307-8788, or
Darcey Matthews, +1-713-307-8711
END
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