Endeavor Energy Corporation
OTC Bulletin Board : ENEC

Endeavor Energy Corporation

August 21, 2007 08:01 ET

Endeavor Energy Agrees to Acquire Holloman Petroleum Pty. Ltd.

CALGARY, ALBERTA--(Marketwire - Aug. 21, 2007) - Endeavor Energy Corp. (OTCBB:ENEC) announced today that it has signed an agreement to acquire Holloman Petroleum Pty. Ltd., a privately-held Australian-based company, for approximately 18,600,000 shares of Endeavor's common stock. Holloman Petroleum Pty. Ltd. is a majority owned subsidiary of Holloman Corporation. Holloman Corporation is a major developer of gas plants, pipelines, and other infrastructure throughout the U.S.

When the acquisition of Holloman Petroleum is completed, it is expected that Holloman's assets will consist of three oil and gas permits issued by the Australian Government. The permits cover approximately 6,873 km2 (1,698,355 million acres) of land in the Cooper basin and 1,992 km2 (492,235 acres) offshore in the Gippsland basin and Barrow sub-basin. Upon closing, the Holloman Petroleum Pty. Ltd. will significantly increase the reserve potential and the ultimate value of the Company's assets. The acquisition has provided significant opportunities to explore and develop additional Australian properties.

"The acquisition of Holloman Petroleum Pty. Ltd. represents a tremendous opportunity for Endeavor Energy," said Cameron King, CEO of Endeavor Energy Corp. "It provides the Company with a substantially larger presence in the Australian oil and gas industry and the ability to expand into more prolific areas in the future. We have enjoyed working closely with the Holloman Corporation to develop the VIC/p60 concession, and consider this acquisition to be a logical progression of that relationship. We are confident that shareholders from both our companies stand to benefit from this development."

"Our participation with Endeavor in the international energy market has advanced our corporate strategy of expanding and diversifying our Company. This combination of assets will provide both short term and long term benefits for both our shareholders and our employees," commented Mark Stevenson, President and CEO of Holloman.

Holloman Corporation will be the Operator for all exploration and development operations on the areas covered by the permits, and, as the largest shareholder of Holloman Petroleum, will own approximately 21% of Endeavor's shares upon successful completion of the acquisition.

The acquisition of Holloman Petroleum is subject to a number of conditions, including receiving the approval of the Australian government for the transfer of the permits to Holloman Petroleum.

About Holloman Corporation

Holloman Corporation is an integrated multinational energy company headquartered in Houston, Texas. The Company participates in both traditional and emerging industries including oil, gas, and mineral exploration and production, midstream processing, renewable and alternative energy development, utilities, government contracts, engineering and construction.

For more information please visit www.endeavorenergy.com.

About Endeavor Energy Corporation

Endeavor Energy Corp. is an Alberta, Canada based emerging oil and gas development company focusing on the exploration, acquisition, and development of various oil and gas concessions around the world. The company's current projects are located in Saskatchewan and Alberta, Canada, consisting of over 1.4 million acres and internationally focused on developing the Vic/P60, Barrow Sub-basin and the Cooper Basin all Australian oil and gas concessions.

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Endeavor expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although Endeavor believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Endeavor's management on the date the statements are made. Endeavor undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

No regulatory authority has passed upon the merits of the proposed transaction and has not approved nor disapproved the contents of this press release.

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