New Issue: Endeavour upsized private placement $65 million convertible at 6.0% yield, up 35%

Nashville, Jan. 14 - Endeavour International Corp. sold an upsized $65 million of seven-year convertible notes at par to yield 6.0% with a 35% initial conversion premium via placement agent JPMorgan Securities.

The issue was upped from $50 million.

Endeavour, a Houston-based oil and gas company, said proceeds would be used to fund expenditures for oil and gas properties, for working capital and for general corporate purposes, which may include acquisitions.

Terms of the deal are:

Issuer:	Endeavour International Corp.
Issue:	Convertible senior notes
Placement agent:	JPMorgan Securities
Amount:	$65 million, up from $50 million
Greenshoe:	$16.25 million, up from $10 million
Maturity:	January 2012
Coupon:	6.0%
Price:	Par
Yield:	6.0%
Conversion premium:	35%
Conversion price:	$5.02
Conversion ratio:	199.2032
Call:	Non-callable for 7 years
Pricing date:	Jan. 13, after market close
Distribution:	Private placement section 4(2)

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