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Endeavor Energy Agrees to Acquire Holloman Petroleum Pty. Ltd.
Endeavor Energy Corporation is actively pursuing oil and gas companies and properties around the world. Endeavor is building a portfolio of high quality low risk assets with high probability of return.
Endeavor Canada Corporation is an oil and gas development and exploration company with operating assets consisting of 31 sections of land under direct ownership and 80 sections held under farm-in agreements with six producing gas wells together with pipeline and infrastructure collection facilities. Endeavor holds a 40% interest in the "Warner" project consisting of 17.5 sections and 5 producing natural gas wells, 100% interest in 11 sections of the "Arneson" gas project, 50% interest in three sections in the "Diamond" Barons gas play and 50% in "Taber" with one producing gas well. Endeavor's farm-in agreements cover another 80 sections in Alberta and Saskatchewan, which are targeting shallow Viking gas plays and deeper Nisku oil reservoirs.
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Why Invest in Endeavor Energy Corporation?
- Endeavor was newly established in 2006, an asset purchase from a mid-tier energy producer gave Endeavor a start with 13,000 acres and nominal production. From its early beginning, Endeavor focused on increasing land position and production.
- Endeavor currently produces a modest 125 BOED barrels of oil equivalent (BOE) and adding 1,500 to 2,000 BOED with an $11.5 million 2007-drill campaign. At year-end 2008, Endeavor will producing over 4,000 BOED with a revenue target of $25 million. At year-end 2009, Endeavor will be producing over 5,500 BOED with a revenue target of $51 million increasing to $112 million by the end of 2011.
- Endeavor's Canadian operations will generate 90% of production and provide a solid foundation for a growing portfolio.
- Today, Endeavor has approximately 100,000 net acres under review within Alberta and Saskatchewan, partnering with industry leaders, such as Devon Energy and Penn West Energy Trust to develop prospective reserves in the Canadian prairies proving Endeavor's expertise and growth model.
- Endeavor's Australian operation (VIC/P60) is 340,000 net acres in the shallow water of the Bass Straight off the coast of Victoria, Australia. Endeavor has purchased 62.5% of the concession and has partnered with Holloman Engineering of Dallas, Texas to explore and develop the prolific Bass Straight oil fields.
- The area includes several major discoveries in various stages of development since late 1960's and has yielded billions of barrels of production. Several of the world's largest oil and gas companies are producing, developing and exploring adjacent to Endeavor's oil and gas concession.
- Endeavor and Holloman have identified 6 prospective leads, based on independent reports by ISIS Petroleum Consultants predetermining the A1 lead (one of six) potentially holding reserves from 80 to 120 MMBO. These defined indicators combined with Holloman's expertise in the area convinced Endeavor's team to participate in this world-class exploration prospect.
- Combining low-risk deliverable results of Endeavor Energy Alberta and the high reward of Endeavor Energy Australia together offer significant near-term and longer-term growth.
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