HOUSTON, March 11, 2011 /PRNewswire/ --
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 http://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 materially.
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 http://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.
SOURCE Endeavour International Corporation