"I am thrilled that Bill is taking the helm of Endeavour and willing to relocate as we move forward in realizing our mutual vision of creating the leading North Sea-focused independent oil and gas company. Since we co- founded Endeavour in 2004, we have worked side by side to build an exploration and production company from the ground up," said Seitz. "With our recently announced acquisition of producing properties in the United Kingdom, Endeavour moves from a start-up exploration venture to a full-fledged operating company. We both agreed that it was time for our executive leadership to be based in London with a more centralized management structure. This move will enhance our opportunities to rapidly expand and develop the company."
"John has been the strategist behind establishing our exploratory leasehold position and developing our extensive high-potential inventory," said Transier. "This allows him to remain focused on the exploratory side of the business that he loves and continue to provide management oversight through an active role on the board."
Endeavour expects to close its recently announced acquisition of interests in seven producing fields in the Central North Sea section of the United Kingdom Continental Shelf early in the fourth quarter. In addition, the company will continue its exploratory drilling campaign with a well expected to begin drilling in the fourth quarter. In May, Endeavour announced its first discovery in the Southern Gas Basin in the United Kingdom of the North Sea when the Cygnus 44/12-2 well tested as a gas discovery.
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