10th Jun 2014 14:46
ENDEAVOUR INTERNATIONAL CORP - Endeavour Comments on Stock Price/Updates GuidanceENDEAVOUR INTERNATIONAL CORP - Endeavour Comments on Stock Price/Updates Guidance
PR Newswire
London, June 10
Endeavour Comments on Stock Price and Updates Q2 2014 Guidance HOUSTON, June 10, 2014 -- Endeavour International Corporation (NYSE: END) (LSE:ENDV) today announced that it has received numerous calls from analysts andinvestors making inquiries regarding recent market activity in the Company'sstock. Management of the Company is unaware of any reason why recent trading ofthe stock has resulted in a significant decrease in its price over the last fewdays. William L. Transier, the Company's Chairman, President and Chief ExecutiveOfficer, stated: "Endeavour remains committed to generating value for itsshareholders through exploitation of our assets, operational efficiencies andmanaging the capital structure. Since our last update to the market in earlyMay, our three large U.K. assets have been online and producing at consistentrates. As a result, we are revising our second quarter production guidance to10,500-11,500 barrels of oil equivalent per day ("boepd") up from our previousguidance of 9,000-10,000 boepd. Regarding liquidity, we have executed another Forward Sale for $22.5 millionand have settled an insurance claim for the Rochelle E1 well, damaged in early2013, for £7.5 million (approximately $12.6 million). The insurance claim isexpected to be paid before the end of this month." The Company's second quarter conference call will be held on August 5, 2014 toupdate the markets on its operational and financial activities. About Endeavour International Corporation Endeavour International Corporation is an international oil and gas explorationand production company focused on the acquisition, exploration and developmentof energy reserves in the North Sea and United States. For more information,visit www.endeavourcorp.com. Forward-looking Statements This press release contains certain "forward-looking statements," as such termis defined in Section 21E of the Securities Exchange Act of 1934, as amended,relating to future events and the financial performance of Endeavour. Suchstatements are only predictions and involve risks and uncertainties, resultingin the possibility that the actual events or performance will differ materiallyfrom such predictions as a result of certain risk factors. As such, readersare cautioned not to place undue reliance on forward-looking statements, whichspeak only as to management's plans, assumptions and expectations as of thedate hereof. Please refer to Endeavour's Annual Report on Form 10-K for theyear ended December 31, 2013 filed with the SEC on March 17, 2014, Form 10-K/Afiled on March 21, 2014 and other filings for a discussion of material riskfactors. Endeavour disclaims any duty to update or alter any forward-lookingstatements, except as required by applicable law. SOURCE Endeavour International Corporation
CONTACT: Endeavour - Investor Relations, Darcey Matthews, +1-713-307-8711
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