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Rodman & Renshaw Acts as a Co-Manager to Endeavour International Corporation in Upsized Public Offering of Common Stock

^{Published on 2011-03-25 13:25:41 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), announced that it has acted as co-manager to Endeavour International Corporation (NYSE:END) (LSE:ENDV.l) who announced that it has priced its public offering of 10.0 million shares of its common stock at a price to the public of $11.00 per share. The 10.0 million shares to be sold represent an increase over the previously-announced 8.0 million shares. Endeavour has granted the underwriters a 30-day option to purchase up to 1.5 million shares of its common stock. The offering is expected to settle and close on March 29, 2011, subject to customary closing conditions. Endeavour intends to use the net proceeds from the offering to retire all $81.3 million of its 6% Convertible Senior Notes due 2012. The remaining net proceeds will be used for general corporate purposes.

The offering will be made only by means of a preliminary prospectus supplement and related base prospectus, copies of which may be obtained from:

A copy of the preliminary prospectus supplement and base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website, at [ www.sec.gov ].

About Endeavour International Corporation

Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States. For more information, visit [ http://www.endeavourcorp.com ].

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.

For more information visit Rodman & Renshaw on the Internet at [ www.rodm.com ]

MEMBER FINRA, SIPC

Endeavour International Corporationa™s Forward Looking Statements

This press release is neither an offer to sell, nor a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement, as amended, relating to the securities has been filed with the Securities and Exchange Commission and was declared effective on February 9, 2010.

Endeavour International Corporation is an independent oil and gas company engaged in the production, exploration, development and acquisition of crude oil and natural gas in the U.S. and the North Sea.

Certain statements in this news release should be regarded as "forward-looking" statements within the meaning of the securities laws. These statements speak only as of the date made. Such statements are subject to assumptions, risk and uncertainty. Actual results or events may vary materially.

Investors are urged to also consider closely the disclosure in our filings with the SEC, available from our website at [ www.endeavourcorp.com ]. Endeavour is also subject to the requirements of the London Stock Exchange and considers the disclosures in this release to be appropriate and/or required under the guidelines of that exchange.