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Endeavour International Corporation Message Board

  • dormie18 dormie18 Oct 30, 2012 11:50 AM Flag

    New lease awards counter-balance the CFO departure negativity to a degree

    "END was awarded seven new licenses to operate 10 exploration blocks in the UK North Sea.The properties were awarded based on proposed development plans, thus no upfront lease bonuses. Picking up potential future projects without shelling out upfront cash adds nice optionality." (Global Hunter Securities' analyst)

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    • If the Brits have the same policies as other countries they won't award drilling permits to unless they feel the drilling can be done safely to completion. This means the company has to be solvent and capable of cleaning up a mess!

      New licenses and increasing cash flow suggest exponential phase of growth is near. I think most large cap companies had periods of exponential growth from their small cap status. New licenses and increasing cash flow suggest exponential phase of growth is possible.

      I think the new licenses, some of which look like offsets, and Endeavour’s focus means they are doing what they do best in the most profitable fashion. Furthermore Endeavour has a nearby market and I think this is a great time to buy for the long term. BUT I plan to wait until they confirm my feelings with their earnings call this week. I would also plan to sell half when it reaches $15 to lock in profits and reduce risk.

      CFO departure is worrisome but this guy may have gotten an offer he could not refuse. After all the current management took the company from a second tier producer to beomg a player and the other companies bidding have names like Shell, Apapche and Total. There may be some more information on this and I asked my broker to look into it.

    • jimjones62 Oct 30, 2012 2:47 PM Flag

      nice try but if they have some accounting errors, then well all bets are off, the guys is leaving without notice not a good sign.

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