ENDV Announces Decision Not to Make Interest Payments

Endeavour Announces Decision Not to Make Interest Payments HOUSTON, Sept. 3, 2014 -- Endeavour International Corporation (NYSE: END) (LSE:ENDV) today announced that it has decided not to pay approximately $33.5million in interest due on September 2, 2014 on its 12% First Priority Notesdue March 2018, 12% Second Priority Notes due June 2018 and 6.5% ConvertibleSenior Notes due November 2017 ("collectively, the Notes"). Under the term ofthe indentures for the Notes, there is a 30-day grace period during which theCompany may elect to make the interest payment and cure any potential event ofdefault for non-payment. A company spokesperson stated: "The Company initiated conversations withrepresentatives of its various debt holders in June. To date, those discussionshave not resulted in a constructive resolution regarding the Company's capitalstructure. We believe it is in the best interest of all stakeholders, debt andequity, to expeditiously address the Company's capital structure with the goalof reducing debt and the cost of capital to position the Company for thefuture. Endeavour intends to use the 30-day grace period to continuediscussions with all its debt providers." The Company is engaged in discussions with representatives of certain holdersof its various classes of indebtedness regarding the potential terms underwhich the Notes could be restructured so as to deleverage the Company. If theCompany decides not to make the payments by the end of the grace period, therequisite holders of the Notes could accelerate the repayment of the principalpayments due. This action would result in cross-defaults to certain otherindebtedness of the Company and its subsidiaries, including indebtedness of itsEndeavour Energy UK Limited subsidiary. The Company is in discussions withcertain creditors and their representatives with respect to obtaining certainamendments and waivers of default resulting from the non-payment of theSeptember 2, 2014 interest payments and is also seeking a refinancing of theindebtedness of Endeavour Energy UK Limited. No agreements regarding suchrestructuring, amendments and waivers or refinancing have been entered into atthis time, and no assurances can be given that the Company's efforts willresult in any such agreements. About Endeavour International Corporation Endeavour International Corporation is an oil and gas exploration andproduction company focused on the acquisition, exploration and development ofoil and natural gas in the North Sea and the United States. For moreinformation, 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 actual events or performance will differ materiallyfrom such predictions as a result of certain risk factors. As such, readers arecautioned not to place undue reliance on forward-looking statements, whichspeak only to management's plans, assumptions and expectations as of the datehereof. Please refer to Endeavour's Annual Report on Form 10-K for year endedDecember 31, 2013, filed with the SEC on March 17, 2014, Form 10-K/A filed onMarch 21, 2014 and other filings for a discussion of material risk factors.Endeavour disclaims any duty to update or alter any forward-looking statements,except as required by applicable law.

CONTACT: Endeavour - Investor Relations, Darcey Matthews, 713-307-8711