Endeavour Announces Withdrawal of Proposed Offer for Ithaca Energy Inc.

LONDON, July 8 /PRNewswire/ -- Endeavour International Corporation ("Endeavour") (Amex: END) (LSE: ENDV) announced today that it is no longer interested in pursuing its non-binding proposed offer for Ithaca Energy Inc. ("Ithaca"). The decision follows Ithaca's announcement on 7 July 2008 to the effect that the company's directors had decided not to explore Endeavour's proposals but instead pursue 'a number of ongoing initiatives.' William L. Transier, Chairman, Chief Executive Officer and President of Endeavour said: "We still believe that a merger of Endeavour and Ithaca would provide an excellent catalyst for enhanced shareholder value through the creation of a combined company with greater scope and scale. We have diligently worked to establish a dialogue with the Ithaca board to convince them that the transaction is... [read full story]