Gilliland Steps Down as Endeavour's CFO

Endeavour International Corp. Chief Financial Officer Lance Gilliland has resigned to return to a career in investment banking.

"Lance was an important member of our team and contributed much to our growth activities over the past two years," said William L. Transier, chairman, chief executive officer and president. "We are very fortunate to have built a talented and experienced team in our finance and accounting areas to continue performing those functions until a successor is named."

Added Gilliland, "This was a difficult decision as I have been proud to be a part of the executive team at Endeavour. I have every confidence in its management, financial and technical teams, and look to watching the company achieve new levels of success."

Gilliland will be a partner running the mergers and acquisitions effort with Tudor, Pickering & Co., a Houston-based energy investment bank, founded by Bobby Tudor, a former colleague from Goldman, Sachs & Co. and Dan Pickering, a well-known energy research analyst. Endeavour will begin the search for a new chief financial officer immediately.

Endeavour International Corp. is an oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea.

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