Endeavor Energy Corporation
OTC Bulletin Board : ENEC

Endeavor Energy Corporation

September 20, 2007 09:32 ET

Endeavor Energy Announces $24 Million Financing

CALGARY, ALBERTA--(Marketwire - Sept. 20, 2007) - Endeavor Energy Corporation (OTCBB:ENEC) ("Endeavor" or the "Company") is pleased to announce today that it has entered into an agreement with Research Capital Corporation ("Research Capital") to act as lead agent, on a best-efforts basis, for a private placement offering (Offering") of up to $18,000,000. The Offering will consist of a combination of Common and Flow-Through shares of Endeavor. Research Capital has been granted an option to increase the size of the Offering by up to an additional $6,000,000 in Common Shares, exercisable at any time up to and including the closing of the Offering, potentially bringing the total gross proceeds from the Offering to $24,000,000.

Proceeds from the Offering will be used by Endeavor towards the continued development and exploration of the Company's oil and gas properties located in Canada and Australia. Company President and CEO, Cameron King stated:

"The capital will be utilized to expand our production in Alberta and Saskatchewan by implementing a 23 well drill program over the next 12 months, to advance the exploration of Endeavor's Cooper Basin prospects, Australia, as well as acquire 25 sq. miles of 3D seismic as part of the exploration program at Endeavor's Vic/P60 concession located in the Gippsland Basin, Australia."

About Endeavor Energy Corporation

Endeavor Energy Corp. is a Canadian-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 1.2 million net acres of land, and internationally where Endeavor is focused on developing its prospects in each of the Gippsland Basin, Cooper Basin and Barrow Sub-basin.

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.

Contact Information