Endeavour Reports Sale of Stock by Employees and Directors to Meet Tax Obligations

Endeavour International Corporation announced that a total of 297,851 shares of common stock were sold by its employees and directors in a private transaction to an undisclosed third party. The shares were sold to satisfy minimum tax withholding and estimated tax payment obligations of the employees and directors from equity compensation that vested on January 3, 2007 as part of the company’s long-term incentive compensation plan. None of the selling employees or directors will receive any cash from the sales of stock as all proceeds fulfill individual tax obligations.

“Since beginning the company in 2004, we have provided equity compensation to our directors and employees that allows them to share in the success of the company and aligns their interests with those of our other stockholders,” said William L. Transier, chairman, president and chief executive officer. “The block trade simplifies the process that allows our directors and employees to meet the required tax commitments.”

Of the total shares sold, 193,860 shares of common stock were sold by Section 16 officers and directors of the company. The stock sale transactions by these officers and directors were reported today to the Securities and Exchange Commission in Form 4 filings of Statement of Changes in Beneficial Ownership of Securities.

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. For more information, visit http://www.endeavourcorp.com .

Source: Endeavour International Corporation