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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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From: allevett1/21/2009 7:20:43 AM
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END - HOUSTON, January 21 /PRNewswire/ -- Endeavour International Corporation (Amex: END - News; LSE: ENDV - News) today announced a successful up-dip appraisal of the Rochelle undeveloped discovery in Block 15/27 of the UK North Sea. Endeavour holds a 55.6 percent interest in the well and is operator for the block. Nexen Petroleum U.K. Limited is a joint venture participant and holds 44.4 percent interest.

The Rochelle 15/27-11 appraisal well was drilled to a total depth of 10,369 feet subsea encountering 77 feet net pay in the Lower Cretaceous Kopervik sandstone with average porosity of 24 percent and average hydrocarbon saturation of 86 percent. Pressure data and samples confirm 55 feet of gas on top of 22 feet of oil. The oil water contact was not encountered. Plans are in progress to flow test the well. The reservoir characteristics measured in 15/27-11 are much better than predicted in our pre-drill estimates. Endeavour's preliminary post-drill best technical case could be in excess of 30 million barrels of oil equivalent gross recoverable.

The company intends to move quickly towards development of Rochelle. Future appraisal/development options are being actively evaluated.
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