Endeavor Energy Corporation
OTC Bulletin Board : ENEC

Endeavor Energy Corporation

August 15, 2007 09:01 ET

Endeavor Energy Announces Reserve Estimates of Approximately 110 Million Barrels of Oil at the Company's A1 Lead at its VIC/P60 Concession

More Than Four Billion Barrels Have Been Discovered in the Basin To Date

CALGARY, ALBERTA--(Marketwire - Aug. 15, 2007) - Endeavor Energy Corp. (OTCBB:ENEC) announced today, according to independent third party research, oil reserves in the Company's A1 site at its newly acquired VIC/P60 oil and gas concession are approximately 80 to 110 million barrels of oil.

The A1 site is one of six prospective sites at the company's VIC/P60 concession identified by joint venture partner on the project, Holloman Corporation, a major developer of gas plants, pipelines, and other infrastructure throughout the U.S.

Independent third party reports performed by ISIS Petroleum Consultants and Strachan Corporate have predetermined that the entire VIC/P60 concession could hold reserves of 1.5 Billion barrels of oil.

Specifically, the independent third party reports performed by Strachan show the two most prominent prospects identified, assuming 25 meters of net pay zone, will produce a combined target size of between 80 and 120 million barrels of oil. As stated in the report, the region is immature for oil generation and thus relies on oil migration from the northeast to fill structures identified in sediments of the Golden Beach subgroup, which are in a similar setting to the 96 mmbbl Archer oil discovery 30km north.

The Company's VIC/P60 concession is comprised of 1,375 sq. km in the prolific Gippsland Basin off the coast of Victoria, Australia; a region widely recognized for its rich oil and gas deposits. The permit lies in water depths between 70 and 1,800 meters, however most targets could be drilled in water depths of less than 500 meters.

Holloman Corporation owns a 37.5% stake in the VIC/P60 with the remaining 62.5% of the concession directly owned by Endeavor Energy Corp.

"The VIC/P60 concession is our most potentially profitable play in our diversified portfolio of oil and gas properties," said Cameron King, CEO of Endeavor Energy Corp. "Containing up to 110 million barrels of oil, production from the A1 Lead alone could result in revenues for the Company of $8.4 billion over time, with oil prices remaining at approximately $70 per barrel. That's tremendous potential."

The Company is in the process of scheduling 3-D seismic surveys concentrating on the northeastern part of the permit where these initial six sites were identified originally by re-processing over 5,000 miles of 2-D seismic acquired in the 1980's. These additional seismic studies will provide further valuable information regarding the area's full potential and identifying precise drill locations.

About Endeavor Energy Corporation

Endeavor Energy Corp. is a Calgary, Alberta 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 of Canada and off the Vic/P60 concession located near the coast of Victoria, Australia.

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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