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News Breaks
February 14, 2013
05:26 EDTENDEndeavour provides Rochelle drilling update
Endeavour announced a drilling update on the East Rochelle well in the U.K. Central North Sea. Following a severe storm lasting several days, the company performed a routine inspection of the conductor, well head and blow out preventer systems using a Remote Operated Vehicle. Inspection of the well revealed that the cement around the top of the 36" conductor pipe, that anchors the well to the seabed floor, had been removed creating a non- uniform hole around the conductor. The hole extended approximately 4 to 7 feet in diameter and 25 feet in depth. As a result of this finding, drilling operations have been suspended on the East Rochelle well. The Company is conducting a thorough analysis to identify the cause of the cement loss and evaluate if there has been any potential fatigue damage to the conductor itself. The work to repair the cementing around the conductor pipe has been completed. Preparations are now being made to move the Transocean Prospect rig to the West Rochelle area to commence drilling of the second production well, allowing for the start- up of the Rochelle development. The time to drill the West Rochelle production well is estimated at approximately 120 days. Once the investigation and fatigue analysis are concluded, the company anticipates that drilling operations will re-commence at East Rochelle.
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September 18, 2014
07:55 EDTENDEndeavour receives notice of non-compliance with NYSE listing standards
Endeavour has been notified by the NYSE that it is not in compliance with two of the NYSE's continued listing standards. The NYSE requires that the average closing price per share of a listed company's stock be in excess of $1.00 for a consecutive 30-trading day period. Under this continued listing criteria, Endeavour has a period of six months, subject to possible extension, to bring its average share price back over $1.00. The company's common stock expects to be listed and traded on the NYSE during this period. In addition, the company's total market capitalization has averaged less than $50M over a consecutive 30 trading-day period and its last reported shareholders' equity was also below $50M. Endeavour has 45-days from receipt of the NYSE notice to submit a business plan to the NYSE demonstrating how it intends to comply with the NYSE's continued listing standards. The company's stock expects to trade on the NYSE during the plan period.

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