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Endeavour International Corporation Message Board

  • jimjones62 May 30, 2012 6:19 PM Flag

    good new

    Concurrent with the issuance of the letters of credit, the restrictions on �20.6 million of the Company's restricted cash were removed and the cash was returned to the Company for general corporate purposes. The letters of credit secure decommissioning obligations in connection with certain of Endeavour UK's United Kingdom Continental Shelf Petroleum Production Licences and have been outstanding and unchanged since 2006

    The terms of all of the Warrant Agreements are substantially identical. Pursuant to Warrant Agreements, the Company issued the Investors warrants (the "Warrants") to purchase a total of 2,000,000 shares of the Company's common stock at an exercise price of $10.50 per share (the "Exercise Price"). The Warrants expire on January 24, 2016

    I like the price about 90% above current.

    Good. adding liquidity!

    Good management!

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    • I think this could be good news but for a slightly different reason. If they are able to hurdle the closing liability problem END is back to nothing changed, full speed ahead.

      Reading the release, I can't figure out if this is for past properties or for the current purchase. It sort of looks like old business. I am glad to see some deep pockets stepping up.


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