Offshore staff

HOUSTON --Endeavour Energy Norge and RWE Dea Norge have agreed to align their interests in two Norwegian North Sea production licenses.

PL270 and PL426 contained risked resources estimated by Endeavour at over 500 bcf of gas equivalent, including the Agat discovery and other prospects. The licenses cover an area of over 120,000 acres (48,562 ha) in a prolific oil and gas trend north of the Gjøa field, and east of the Peon gas discovery in the More Margin.

Under the transactions, Endeavour will become 85% operator of PL470. In exchange, it will cede 15% of its interest in PL426 to RWE Dea, funding certain costs up to the first planned appraisal well in 2008.

07/11/2007