Endeavour Intl Corp Endeavour Closes $255 Million First Lien Term Loan

TIDMENDV

Endeavour Announces Closing of $255 Million Senior Secured First Lien Term Loan

HOUSTON, Jan. 27, 2014 -- Endeavour International Corporation (NYSE: END) (LSE: ENDV) today
announced the closing of a $255 million senior secured first lien term loan with an interest rate of 8.25%
(Libor + 700 basis points). The first lien note is a strip facility consisting of a $125 million Secured Term
Loan and a $130 million LC Procurement Facility with the same interest cost.

The Company has used the net proceeds from the offering to refinance its 13% $115 million Revolving
Credit Facility and replace its two reimbursement agreements ($120 million at 13% and $33 million at 9%,
interest rates respectively). The lower amount of the LC Procurement Facility is a direct result of the first
confirmed step toward tax relief for field decommissioning security obligations in the U.K. North Sea. A
further reduction to the outstanding amount of this decommissioning security is expected soon. The
facility contains a standard covenant package and is due in November 2017. Credit Suisse acted as the
company's exclusive placement agent for the financing facility.

This announcement is neither an offer to sell nor the solicitation of an offer to buy these securities and
shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale
is unlawful.

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, Darcey Matthews, 713-807-8711

END

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