At the Oil & Services Conference VIII on February 18, 2010 in San Francisco, William Transier, chairman, CEO and president of independent energy company Endeavour International Corp. (END) (ENDV.L) is scheduled to speak on the company's business strategies and operational plans.
Endeavour, which is focused on the exploration, production and acquisition of oil and gas reserves in the North Sea and United States, is listed on the AMEX and LSE.
The company's new initiative to explore gas shale plays in the United States and its ongoing work to develop three significant growth potential assets in its North Sea portfolio in the United Kingdom, has got a boost from the recently completed financing transaction and private equity placement.
On February 8, Endeavour closed a new $25 million lending facility with Bank of Scotland PLC. Last week, the company completed a private placement of about 23.5 million newly-issued shares of common stock at a purchase price of $0.90 per share, for net proceeds of approximately $20.5 million.
As part of the private placement, the company insiders have purchased shares. According to a SEC filing, on February 4, the CEO purchased 450,000 shares , John Seitz, Vice Chairman purchased 444,444 shares, while Nancy Quinn, a director purchased 166,666 shares. All the shares were purchased at a price of $0.90 each. On February 9, the CFO of the company Michael Kirksey purchased 50,000 shares at $1.02 each.
To establish a growth oriented portfolio of onshore properties in the United States, last month, the company acquired significant positions in four U.S. resource plays, including the Haynesville and Marcellus gas shale plays in North Louisiana/East Texas and Western Pennsylvania, respectively, and new frontier plays in Alabama and Montana. Altogether, Endeavour has acquired interests in 526,000 gross acres (165,000 net acres) in the four areas for an approximate $27 million initial investment.
According to Endeavour, anticipated production from the four U.S. resource plays combined with its North Sea development projects has the potential to grow its production to meet its previously stated five-year production goal of 40,000 barrels of oil equivalent per day, balanced between the U.S and U.K.
More about Endeavour can be explored at the conference. Stay tuned...
END, which has been trading in the range of $0.56 - $2.21 in the last twelve months, closed Thursday's trading at $1.18.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.