Endeavour Announces Plans to List on the New York Stock ExchangeBy Endeavour International Corporation, PRNE
Wednesday, March 9, 2011
HOUSTON, March 11, 2011 - Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) is
pleased to announce that it has applied to list its common stock on the New
York Stock Exchange (NYSE). Currently, the company is listed on the NYSE
Amex. The company anticipates that trading will begin on or about March 15,
2011 under its current ticker symbol "END."
"The transition to the New York Stock Exchange represents a significant
milestone for our company which will benefit our common stockholders through
increased liquidity and visibility," said William L. Transier, chairman,
chief executive officer and president. "The New York Stock Exchange is one of
the world's premier exchanges and we are proud to join the other companies
privileged to be traded on this market."
"We are pleased to welcome Endeavour International Corporation to the
NYSE," said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash
Execution, NYSE Euronext. "Endeavour joins the world's leading oil and gas
companies on the NYSE, where it will benefit from the outstanding global
visibility and superior market quality and services provided by listing on
NYSE Euronext markets. We look forward to a strong, lasting partnership."
Endeavour has notified the NYSE Amex that it will voluntarily delist its
common stock from the NYSE Amex. The last day of trading of the common stock
on the NYSE Amex is expected to be on or about March 15, 2011. Until the
common stock begins trading on the NYSE, the company's common stock will
remain trading on the NYSE Amex.
Endeavour International Corporation is an international oil and gas
exploration and production company focused on the acquisition, exploration
and development of energy reserves in the North Sea and United States. For
more information, visit www.endeavourcorp.com.
Certain statements in this news release should be regarded as
"forward-looking" statements within the meaning of the securities laws. These
statements speak only of as of the date made. Such statements are subject to
assumptions, risk and uncertainty. Actual results or events may vary
As of January 1, 2010, the Securities and Exchange Commission (SEC)
changed its rules to permit oil and gas companies, in their filings with the
SEC, to disclose not only proved reserves, but also probable reserves and
possible reserves. Proved oil and gas reserves are those quantities of oil
and gas, which, by analysis of geoscience and engineering data, can be
estimated with reasonable certainty to be economically producible - from a
given date forward, from known reservoirs, and under existing economic
conditions, operating methods, and government regulations - prior to the time
at which contracts providing the right to operate expire. Probable reserves
include those additional reserves that a company believes are as likely as
not to be recovered and possible reserves include those additional reserves
that are less certain to be recovered than probable reserves. We may use
certain terms in our news releases, such as "reserve potential," that the
SEC's guidelines strictly prohibit us from including in filings with the SEC.
In addition, we do not represent that the probable or possible reserves
described herein meet the recoverability thresholds established by the SEC in
its new definitions. Investors are urged to also consider closely the
disclosure in our filings with the SEC, available from our website at
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.
Mike Kirksey, +1-713-307-8700, or Darcey Matthews, +1-713-807-8711, both of Endeavour - Investor Relations
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