Endeavour Announces Closing of Common Stock Offering and Full Exercise of Over-Allotment Option
HOUSTON, March 30, 2011 /PRNewswire/ --
Endeavour International Corporation (NYSE: END) (LSE: ENDV) today announces the closing of its previously-announced public offering of 11,500,000 shares of its common stock, which includes 1,500,000 shares issued and sold pursuant to the full exercise of the underwriters' over-allotment option. Endeavour intends to use the net proceeds from the offering to retire all $81.3 million of its 6% Convertible Senior Notes due 2012. The remaining net proceeds will be used for general corporate purposes.
Citigroup Global Markets Inc. acted as sole book-running manager for the offering. Canaccord Genuity Inc., C. K. Cooper & Company, Global Hunter Securities, LLC and Rodman & Renshaw, LLC acted as co-managers for the offering. Copies of the prospectus supplement and the accompanying base prospectus may be obtained from:
Citigroup Global Markets Inc. Attention: Prospectus Department Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn, NY 11220 Phone: +1-800-831-9146 batprospectusdept@citi.com
A copy of the prospectus supplement and base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website, at http://www.sec.gov.
This press release is neither an offer to sell, nor a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement, as amended, relating to the securities has been filed with the Securities and Exchange Commission and was declared effective on February 9, 2010.
Endeavour International Corporation is an independent oil and gas company engaged in the production, exploration, development and acquisition of crude oil and natural gas in the U.S. and the North Sea.
Certain statements in this news release should be regarded as "forward-looking" statements within the meaning of the securities laws. These statements speak only as of the date made. Such statements are subject to assumptions, risk and uncertainty. Actual results or events may vary materially.
Investors are urged to also consider closely the disclosure in our filings with the SEC, available from our website at http://www.endeavourcorp.com. Endeavour is also subject to the requirements of the London Stock Exchange and considers the disclosures in this release to be appropriate and/or required under the guidelines of that exchange.
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