Endeavour Receives Regulatory Approval for Monetary Production Payment
April 29 2013 - 8:00AM
PR Newswire (US)
HOUSTON, April 29, 2013 /PRNewswire/
-- Endeavour International Corporation (NYSE: END)
(LSE: ENDV) today announced that it had received United Kingdom regulatory approval for the
Monetary Production Payment ('MPP').
Endeavour entered into the MPP in March with a group of
investors for the purchase price amount of $107.5 million. The MPP will be satisfied out of
the production from certain U.K. North Sea assets. The additional
proceeds from the MPP of $64.5
million are expected to be funded this week.
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 www.endeavourcorp.com.
Copyright 2013 PR Newswire
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