18th Sep 2014 07:00
ENDEAVOUR INTERNATIONAL CORP - Endeavour Receives Notice from the NYSEENDEAVOUR INTERNATIONAL CORP - Endeavour Receives Notice from the NYSE
PR Newswire
London, September 17
Endeavour Receives Notice Regarding NYSE Continued Listing Standards HOUSTON, Sept. 17, 2014 -- Endeavour International Corporation (NYSE:END) (LSE: ENDV) announced today that the New York Stock Exchange("NYSE") has notified the Company that it is not in compliance with twoof the NYSE's continued listing standards. The NYSE requires that the average closing price per share of a listedcompany's stock be in excess of $1.00 for a consecutive 30-trading dayperiod. Under this continued listing criteria, Endeavour has a period ofsix months, subject to possible extension, to bring its average shareprice back over $1.00. The Company's common stock expects to be listedand traded on the NYSE during this period. Endeavour plans to notify theNYSE that it anticipates that this deficiency will be cured and that itwill return to compliance with the NYSE continued listing standard. In addition, the Company's total market capitalization has averaged lessthan $50 million over a consecutive 30 trading-day period and its lastreported shareholders' equity (deficit) was also below $50 million. Inaccordance with NYSE procedures, Endeavour has 45-days from receipt ofthe NYSE notice to submit a business plan to the NYSE demonstrating howit intends to comply with the NYSE's continued listing standards.Endeavour intends to develop and submit such a business plan to bring theCompany in compliance, within the required 18 month timeframe. TheCompany's stock expects to trade on the NYSE during the plan period,subject to the compliance with other NYSE continued listing requirements. About Endeavour International Corporation Endeavour International Corporation is an oil and gas exploration andproduction company focused on the acquisition, exploration anddevelopment of oil and natural gas in the North Sea and the UnitedStates. For more information, visit www.endeavourcorp.com. SOURCE Endeavour International Corporation
CONTACT: Endeavour - Investor Relations, Darcey Matthews, 713-307-8711
Related Shares:
ENDV.L