Endeavor Energy Corp.
Press
Aug 7, 2007 Endeavor Energy Announces Joint Venture Agreement With Quicksilver Resources
Endeavor Energy Corporation (OTCBB:ENEC) announced today that its' wholly owned subsidiary, Endeavor Canada, has closed a farm-in agreement with Quicksilver Resources Canada, Inc (NYSE:KWK), a significant oil and gas exploration and development company.
The farm-in agreement will allow Endeavor Energy to develop the prolific Chigwell area of east central Alberta. The Chigwell area is prone to oil and gas in various reservoirs from the deep Leduc to the shallow Belly River sands. Endeavor's prospects are in the middle Mannville Glauconite formation and the Lower Mannville sands.
Endeavor has 100% working interest and under the terms of the agreement, Quicksilver will retain a 15% non-convertible override. Endeavor anticipates that drilling, which will be operated by the Company, will commence within 60 days.
"Endeavor is drilling for 2 stacked channel sands which are thick (+/- 100') and contain both oil and gas," states Endeavor's VP Operations, Keith Miles. We are offsetting a channel, which runs E-W through the subject lands. The initial location is 2-24-43-26W4M. These channels are very porous and permeable and should contain considerable recoverable reserves. The well will be drilled directionally to a depth of 5410' (1650m). Initial production is expected to be 60-110 barrels of oil per day and/or 500 thousand cubic feet per day."
"We are very pleased to work closely with such a major industry player such as Quicksilver," said Cameron King, CEO of Endeavor Energy Corp. "We are confident that this partnership will yield significant results, benefiting both our companies. We believe that teaming up with major producers like Quicksilver is critical to our mission of expanding our portfolio of projects as well as our bottom line."
About Quicksilver Resources, Inc.
Quicksilver Resources Inc. (NYSE:KWK) is a natural gas and crude oil exploration and production company engaged in the development and acquisition of long lived, unconventional natural gas reserves, including coal bed methane, shale gas, and tight sands gas in North America. The company has U.S. offices in Fort Worth, Texas; Granbury, Texas; Gaylord, Michigan; Corydon, Indiana and Cut Bank, Montana. Quicksilver's Canadian subsidiary, Quicksilver Resources Canada Inc., is headquartered in Calgary, Alberta. For more information about Quicksilver Resources, visit www.qrinc.com.
About Endeavor Energy Corporation
Endeavor Energy Corporation is an emerging oil and gas development company focusing on the exploration, acquisition, and development of various oil and gas concessions around the world. The company's current projects are located in Saskatchewan and Alberta region of Canada. For more information please visit www.endeavorenergy.com.
Douglas Brown, Director
Please visit Endeavor's corporate website at www.endeavorenergy.com.
Company Overview
CANADA
Endeavor was newly established in 2006, an asset purchase from a mid-tier energy producer gave us 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.
Our Canadian operations will generate 90% of production and provide a solid foundation for a growing portfolio. Today, we have 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 our expertise and growth model.
AUSTRALIA
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 our 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.
Business Indicator
Development Stage Company
Primary SIC — Industry Classification
5130 - Wholesale-Apparel, Piece Goods & Notions
State Of Incorporation
NV
Country Of Incorporation
USA
Company Officers
Kelly B. Fielder, CEO
SEC Reporting Status
SEC Reporting Company
CIK
0001324736
Estimated Market Cap
73,416,000 as of Aug 7, 2007
Outstanding Shares
61,180,000 as of May 17, 2007
Current Capital Change
shs increased by 6 for 1 split. Payable upon surrender
Ex-Date: Feb 2, 2007
Company Notes
Formerly=Dujour Products, Inc. until 7-07
Transfer Agent
Island Stock Transfer,
100 First Avenue South
Suite 212
St. Petersburg, FL 33701
Short Interest
Jun 27, 2007 8,470 163.04 29,554 1.00
May 24, 2007 3,220 -44.48 3,622 1.00
Apr 24, 2007 5,800 45.00 2,665 2.18
Mar 26, 2007 4,000 100.00 1,289
^^^^people in this category will be squeezed like a Florida Orange!
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