Endeavour Receives Regulatory Approval for Monetary Production Payment
HOUSTON, April 29, 2013 /PRNewswire/ -- Endeavour International Corporation (NYSE: END) (LSE: ENDV) today announced that it had received United Kingdom regulatory approval for the Monetary Production Payment ('MPP').
Endeavour entered into the MPP in March with a group of investors for the purchase price amount of $107.5 million. The MPP will be satisfied out of the production from certain U.K. North Sea assets. The additional proceeds from the MPP of $64.5 million are expected to be funded this week.
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 www.endeavourcorp.com.
SOURCE Endeavour International Corporation