ENDEAVOUR INTERNATIONAL CORP: Endeavour Announces Review of Strategic Alternatives

ENDEAVOUR INTERNATIONAL CORP: Endeavour Announces Review of Strategic 
Alternatives
Endeavour Announces Review of Strategic Alternatives               
HOUSTON, Feb. 14, 2013 -- Endeavour International Corporation
(NYSE: END) (LSE: ENDV)("Endeavour" or the "Company") announced today that its
Board of Directors has authorized the Company's management team to explore a
broad range of strategic alternatives to further enhance shareholder value.
Tudor, Pickering, Holt & Co. and Lambert Energy Advisory Ltd. have been engaged
as the Company's financial advisors in this process. 
Endeavour will consider a full range of options in order to unlock the value
underlying the Company's assets, including: 
* A sale, joint venture or partnership in respect of the Company's activities 
in the North Sea;
  * A sale of specific assets;
  * A sale or merger of the Company; or
  * Continuing to execute on the Company's operational plan. 
"Our Board of Directors, management and shareholders continue to be
disappointed by the dislocation between the underlying asset values and our
stock price," said William L. Transier, chief executive officer. "We have built
a world class operational team and portfolio of assets in the North Sea. We
also have a very talented team and evolving portfolio of assets in North
America. Our focus during the last two years has been to fully implement
development projects in the North Sea and use the cash flows from these
projects to repay debt and advance our strategy. In a challenging environment,
we have accomplished new production and increased cash flows in 2012. However,
delays and the high cost environment of the North Sea continue to impact our
ability to execute effectively on our strategic plan." 
"The initiation of a review of strategic alternatives will allow us to explore
options that can accelerate the realization of value for the benefit of our
shareholders," Mr. Transier continued. "While we review alternatives, we remain
focused on executing on our operational plan to realize the long-term value of
our assets." 
There is no assurance that this strategic alternatives review will result in
Endeavour changing its current business plan, pursuing a particular transaction
or completing any such transaction. Endeavour does not expect to update the
market with any further information on the process unless and until its Board
of Directors has approved a specific transaction or otherwise deems disclosure
appropriate or necessary. 
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, including those discussed in our filings with the Securities
and Exchange Commission. Actual results or events may vary materially. We do
not undertake any obligation to publicly update any forward-looking statements,
whether as a result of new information, future events, or otherwise.
 

SOURCE  Endeavour International Corporation 
CONTACT: Endeavour - Investor Relations, Darcey Matthews, +1-713-307-8711;
Pelham Bell Pottinger - UK Media, Philip Dennis, +44 (0)207 861 3919, Henry
Lerwill, +44(0)207 861 3169 
END 
-0- Feb/14/2013 07:02 GMT