Endeavor Energy Corporation
OTC Bulletin Board : ENEC

Endeavor Energy Corporation

August 14, 2007 09:01 ET

Endeavor Energy Retires $1,600,000 in Debt

Balance Sheet Sees Immediate Improvement as Company Receives Confidence From Investors

CALGARY, ALBERTA--(Marketwire - Aug. 14, 2007) -

Endeavor Energy Corporation (OTC Bulletin Board:ENEC) announced that in connection with the acquisition of its wholly owned subsidiary, Endeavor Canada Corporation, it has retired approximately $1,640,000 in debt and accrued interest. Nine holders of convertible debentures obligating Endeavor Canada to pay a principal amount of $1,500,000 plus accrued interest accepted 1,093,165 shares of Endeavor's common stock at an agreed share price of $1.50 in satisfaction of the debt. All shares tendered by Endeavor were unregistered and subject to the restrictions of Rule 144 of the Securities Act of 1933.

Endeavor President and CEO, Cameron King, stated, "The original investors of Endeavor Canada have maintained a very strong commitment to the long-term growth of Endeavor Energy and its operations. This is evidenced today by their election to accept repayment of their original investment in the restricted common shares of the company. I believe investors are optimistic about the international component of our business plan and the opportunity it represents."

Mr. King continued, "We thank all of our investors who supported our efforts during the early stages and again today for their continuing support by taking a long-term equity position with the company. We believe this decision is a vote of confidence and we will work hard to deliver value to all of our shareholders over the coming months. In my opinion, this is a very exciting time for Endeavor Energy."


Endeavor Energy Corporation is an 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 region of Canada and hold a contingent interest in the Australian offshore oil and gas concession Vic/P60.

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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