Manufacturing Industry
ENDEAVOUR INTERNATIONAL CORP - Statement Re: Capital Expenditure Budget.
PR Newswire UK Disclose, December, 2007
Endeavour Increases Capital Expenditure Budget for 2008
HOUSTON, Dec. 19 -- Endeavour International Corporation (Amex: END)
(LSE: ENDV) today announced that the company plans to spend approximately
$90 million of capital during 2008 to fund oil and gas exploration, development
and producing activities in the North Sea.
"As a result of our strong cash flow position and expanding portfolio of
assets, we have increased our capital budget by almost $20 million from 2007,
excluding acquisitions and capitalized costs," said William L. Transier,
chairman, chief executive officer and president. "Using conservative commodity
price assumptions, we expect to generate sufficient cash flow in 2008 to fund
our capital program and allow us to reduce debt by $25...
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