Bosco & Crossy's stock picks,talk area Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ed Ajootian who wrote (33960)	2/10/2009 3:39:12 AM
From: Crossy	Read Replies (1) of 37387

re: END (Endeavour Intl) $0.70 - NEWS Big news on Cygnus (12.5%) - flows 32 MMCF/d finance.yahoo.com Endeavour Announces Successful Appraisal Drilling in Cygnus Field in the United Kingdom North Sea Tuesday February 10, 2009, 12:30 am EST HOUSTON, February 10 -- Endeavour International Corporation (Amex: END - News; LSE: ENDV - News) today announced that the Cygnus 44/12a-3 appraisal well in the Southern Gas Basin in the North Sea has successfully extended the productive area of the Cygnus field by confirming the presence of recoverable gas reserves in a second fault block. Endeavour holds a 12.5 percent interest in the Cygnus field area spread over two United Kingdom blocks, 44/11a and 12a. License partners include GDF SUEZ, the operator, and Venture Production Plc. The well was drilled to a total depth of 12,433 feet and flow tested at rates up to 32 million cubic feet of gas per day. The parameters of the secondary Carboniferous reservoir interval substantially exceed pre-drill expectations and gross reserves are estimated to be in excess of 100 billion cubic feet. A further appraisal well will be drilled immediately in a third fault block approximately eight kilometers northwest of the 44/12a-3 following completion of the well. A field development plan for Cygnus was submitted to the United Kingdom governing authority, Department of Energy and Climate Change, in December 2008 and contained a phased development scenario that called for initial production to begin in the fourth quarter of 2010. Stated William L. Transier, chairman and chief executive officer of Endeavour: "The excellent result of this appraisal well confirms what Endeavour and its joint venture partners believe is one of the largest gas discoveries in the UK sector of the Southern Gas Basin in the last decade. This positive news in the Cygnus area comes on the heels of the successful appraisal of our Rochelle discovery in Block 15/27. Our company now has three significant gas development projects underway that should more than double our current production in the 2010 and 2011 timeframe. We are now beginning to see evidence that the potential of our undeveloped discoveries will surpass our best expectations. Endeavour is maturing into a well capitalized, self-funded and balanced exploration and development company." Endeavour International Corporation is an oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and the United States. For more information, visit endeavourcorp.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next