BUSINESS SUMMARY Endeavour International Corporation, an independent energy company, focuses on the acquisition, exploration, and development of energy reserves in the North Sea and United States. The company has three major development projects in the United Kingdom sector of the North Sea and an exploration campaign onshore South Texas. As of December 31, 2008, it had proved reserves of 32,797 million cubic feet of natural gas; and 3,555 thousands of barrels of crude oil, condensate, and natural gas liquids. The company was founded in 2000 and is based in Houston, Texas.
NEW DEVELOPMENTS On March 15, 2010 the company announced that its board of directors has approved a review of strategic alternatives for its North Sea assets.
In an effort to unlock the value of its underlying North Sea assets, Endeavour will study a full range of options, including:
Continuing to execute current operations plan Entering into a joint venture to accelerate activities in the North Sea Selling specific assets or the North Sea entire business
"Our board, management and shareholders continue to be disappointed by the dislocation between underlying asset values and our stock price. Last year, Endeavour sold just 19 percent of its reserves for $150 million, which was more than the market capitalization of the company at that time," said William L. Transier, chairman, chief executive officer and president. "Since then, our stock price has traded back to pre-sale levels even though we believe the value of our remaining asset base represents a multiple of the existing share price. As fiduciaries of the capital entrusted to Endeavour, we want our stockholders and the market to recognize the full potential of their investment."
Endeavour International Corporation 1001 Fannin Street Suite 1600 Houston, TX 77002 United States - Map Phone: 713-307-8700 Web Site: http://www.endeavourcorp.com Full Time Employees: 66