Mikael Schlaug
Long/short equity, value, special situations, event-driven

Endeavour International Corporation - Is The Bottom Reached?

Endeavour International Corporation (NYSE:END) is engaged in the exploration, development and acquisition of energy reserves in the US and UK. It has five producing fields in the UK (Alba, Bacchus, Bittern, Enoch and Rochelle) and two producing gas plays in the US (Haynesville, Marcellus). Proven reserves as of December 31, 2013 are 67,173 MMcf natural gas and 12,343 Mbbls of crude oil. The company also has significant positions in prospective oil and gas plays in both UK and US. The company does not operate its assets nor do they control the infrastructure they produce through, however the assets they own do produce good margins when operating.

Q1 revenues rose 63 % Y/Y to $94.2M but expenses also increased...

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