Past year: ▼ 85%(0.20c – 1.70c USD)
Each one in plain English, with the numbers worked through for a shareholder.
11 Feb 2010material agreement▼ BadMajor
Endeavour closed a new $25 million junior facility with Bank of Scotland (maturing Feb 5, 2011, LIBOR+8%) via an amendment to the 2008 junior credit facility, and shortened the maturity of its $225 million senior bank facility to the earlier of Jan 31, 2011 or the reserve tail date, from Oct 31, 2011. Both facilities now come due in early 2011, so the company must refinance or repay them.
5 Feb 2010capital raising announcement● NeutralMajor
Endeavour sold 23,457,779 new common shares at $0.90 each in a private placement, mainly to existing stockholders and certain directors, for about $20.5 million net. The money is meant to partly fund the 2010 capital budget, and the company must file a resale registration within 60 days. Existing shareholders are diluted by the new shares.
What it means for a shareholder
23.5m new shares at $0.900 to raise about $20.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
1 Feb 2010material agreement● Neutral
Endeavour and its Series C preferred holders amended their registration rights agreement to correct a technical oversight, aligning the number of common shares reserved for conversion with the terms left after the November 2009 partial redemption. No new money or change in economic terms is described.
1 Feb 2010securities registration● Neutral
ENDEAVOUR INTERNATIONAL CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
29 Jan 2010substantial holder notice● Neutral
STEELHEAD PARTNERS, LLC, JAMES MICHAEL JOHNSTON, BRIAN KATZ KLEIN, STEELHEAD NAVIGATOR MASTER, L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 12,306,500 shares (9.40% of votes) in a periodic institutional filing.
20 Jan 2010substantial holder notice● Neutral
Smedvig QIF Plc, Smedvig Asset Allocation AS, John Thore Olsen reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 26,914,087 shares (17.60% of votes) in a periodic institutional filing.
19 Jan 2010material agreement● Neutral
This amendment to the January 11 filing adds the purchase agreements and participation agreement as exhibits and restates the shale deals: $15 million cash for the Cohort acreage and about $8.0 million for the Alabama acreage. It says the initial cash came from existing cash reserves and future drilling is expected to be funded from cash balances, expanding credit capacity and potential capital market activity. It also mentions positions in Montana, which the earlier filing did not describe.
15 Jan 2010securities registration● Neutral
ENDEAVOUR INTERNATIONAL CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
11 Jan 2010material agreement● NeutralMajor
Endeavour entered new U.S. shale ventures: it bought 50% of Cohort Energy's interests in about 66,000 gross (27,000 net) acres in North Louisiana/East Texas and Western Pennsylvania for an initial $15 million, and 50% of Hillwood's interests in about 160,000 gross (63,000 net) acres in Alabama for an initial purchase price of about $7.5 million. Cohort and Hillwood will operate, and Endeavour will bear certain drilling and completion costs, with later costs expected to be shared 50/50. This is the company's first U.S. onshore position in this history, alongside its North Sea assets.
16 Dec 2009securities registration● Neutral
ENDEAVOUR INTERNATIONAL CORP registered a securities offering with the SEC using its shelf eligibility.
25 Nov 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 5.00% of votes in a periodic institutional filing.
25 Nov 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 5.00% of votes in a periodic institutional filing.
25 Nov 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 5.00% of votes in a periodic institutional filing.
25 Nov 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 5.00% of votes in a periodic institutional filing.
25 Nov 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 5.00% of votes in a periodic institutional filing.
23 Nov 2009security holder rights change● NeutralMajor
Endeavour redeemed 60% of its Series C convertible preferred stock at a face value of $75 million, paying $25 million in cash and issuing $50 million of 10% subordinated notes (plus 2% capitalized), amortizing over four years from March 2011. The remaining Series C shares were amended: the dividend fell to 4.5% from 8.5%, the conversion price fell to $1.25 from $2.50, and anti-dilution protection was removed. The lower conversion price means the remaining preferred converts into more common shares, which could dilute common shareholders.
20 May 2009asset acquisition disposition● NeutralMajor
Endeavour completed the sale of its Norwegian subsidiary, Endeavour Energy Norge AS (which held the Norway interests in Brage, Njord and Agat), to Verbundnetz Gas AG for $150 million cash on May 14, 2009. It expects a gain of about $47 million after allocating $68 million of goodwill to the assets sold. This removes the Norwegian assets from the company's portfolio.
5 May 2009substantial holder notice● Neutral
Smedvig QIF Plc, Smedvig Asset Allocation AS, John Thore Olsen reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 25,252,586 shares (16.80% of votes) in a periodic institutional filing.
13 Feb 2009substantial holder notice● Neutral
Eton Park Fund, L.P., Eton Park Master Fund, Ltd., Eton Park Associates, L.P., Eton Park Capital Management, L.P., Eric M. Mindich reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 11,000,000 shares (7.92% of votes) in a periodic institutional filing.
11 Feb 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 8,000,000 shares (5.90% of votes) in a periodic institutional filing.
11 Feb 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 8,000,000 shares (5.90% of votes) in a periodic institutional filing.
11 Feb 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 8,000,000 shares (5.90% of votes) in a periodic institutional filing.
11 Feb 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 8,000,000 shares (5.90% of votes) in a periodic institutional filing.
11 Feb 2009substantial holder notice● Neutral
HBK Investments L.P, HBK Partners II L.P, HBK Management LLC, HBK Master Fund L.P reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 8,000,000 shares (5.90% of votes) in a periodic institutional filing.
7 July 2008substantial holder notice● Neutral
STEELHEAD NAVIGATOR MASTER, L.P, STEELHEAD PARTNERS, LLC, JAMES MICHAEL JOHNSTON, BRIAN KATZ KLEIN reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 12,000,000 shares (9.40% of votes) in a periodic institutional filing.
7 July 2008substantial holder notice● Neutral
STEELHEAD NAVIGATOR MASTER, L.P, STEELHEAD PARTNERS, LLC, JAMES MICHAEL JOHNSTON, BRIAN KATZ KLEIN reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 12,000,000 shares (9.40% of votes) in a periodic institutional filing.
7 July 2008substantial holder notice● Neutral
STEELHEAD NAVIGATOR MASTER, L.P, STEELHEAD PARTNERS, LLC, JAMES MICHAEL JOHNSTON, BRIAN KATZ KLEIN reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 12,000,000 shares (9.40% of votes) in a periodic institutional filing.
7 July 2008substantial holder notice● Neutral
STEELHEAD NAVIGATOR MASTER, L.P, STEELHEAD PARTNERS, LLC, JAMES MICHAEL JOHNSTON, BRIAN KATZ KLEIN reported a ENDEAVOUR INTERNATIONAL CORP shareholding of 12,000,000 shares (9.40% of votes) in a periodic institutional filing.
27 June 2008securities registration● Neutral
ENDEAVOUR INTERNATIONAL CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
2 June 2008material agreement● Neutral
Endeavour signed an amended and restated employment agreement with chairman and CEO William Transier, extending his term to May 31, 2011. The filing says it makes technical changes for tax-rule compliance and that his pay was not changed.
