Endeavour plans project financing via high-yield deal in mid-2011, convertible refinancing

By Jennifer Chiou

New York, Aug. 26 - Endeavour International Corp. is likely to execute a high-yield deal sometime in the middle of next year as well as a refinancing of its convertibles in order to finance its various expansion projects, according to a company slideshow from EnerCom's oil & gas conference on Wednesday.

As already reported, the Securities and Exchange Commission changed its rules to permit oil and gas companies to disclose not only proved reserves, but also probable reserves and possible reserves in their filings with the SEC.

The Houston-based oil and gas exploration company highlighted the potential in its Haynesville and Bossier shale projects while also reviewing its Marcellus project. The company also called two wells at its Woodardville prospect as "outstanding successes," the slides said.

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