BayStreet.ca

 
WELCOME: Guest

MESSAGE BOARDS      BECOME A MEMBER LOGIN

 

 
Endeavor Energy Corp.

 

Info Provided by: Endeavor Energy Corp.
Investor Relations: (403) 536-9954

Market Cap: 97.89 million
Outstanding Shares: 61.2 Million


"Alberta / Saskatchewan border is prone to both oil and gas in multiple zones. Endeavor has accumulated an impressive 9 areas in this prolific gas region for future development."

Overview:

Endeavor Energy Corporation (ENEC) focuses on the exploration and development of oil and gas resources primarily in Canada and Australia. With 14 properties in Alberta and Saskatchewan alone, Endeavor has made a large footprint in the oil rich zones of Western Canada.  The company also has a 340,000 net acres project in the shallow water of the Bass Straight off the coast of Victoria, Australia. Endeavor has purchased 62.5% of the concession and has partnered with Holloman Engineering of Dallas, Texas to explore and develop the prolific Bass Straight oil fields.

Glossary of Terms:

BOED Barrels of Oil Equivalent Per Day
BOE Barrels of Oil Equivalent
BBLS Barrels
MMBO Million Barrels of Oil
BBO Billion Barrels of Oil
TCF Trillion Cubic Feet
BOPD Barrels of Oil Per Day
MCF Thousand Cubic Feet


Investment Highlights:

  • Endeavor currently produces a modest 125 BOED barrels of oil equivalent (BOE) and adding 1,500 to 2,000 BOED with an $11.5 million 2007-drill campaign.
  • Endeavor will be producing over 5,500 BOED with a revenue target of $51 million increasing to $112 million by the end of 2011.
  • The sands around the Onard property are very porous and permeable and can produce up to 1 million barrels from less than 400 acres.
  • Wells on the Bigoray property can yield up to 2,100 bopd, with reserves from 1,000,000-10,000,000 bbls per well. Endeavor is in the first stages of exploration in the area.
  • VIC/P60 is 340,000 net acres in the shallow water of the Bass Straight off the coast of Victoria, Australia. Endeavor has purchased 62.5% of the concession and has partnered with Holloman Engineering of Dallas, Texas to explore and develop the prolific Bass Straight oil fields.
  • Two recent oil discoveries near VIC/P60 property in Australia: Archer 1MMBO and King Fisher 1BBO. In excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been discovered in the basin since exploration drilling began in 1964.
  • A-1 Prospect, one of the 6 structures in the VIC/P60 play, could potentially contain approximately $1,500,000,000 in reserves.
 

CANADA

Endeavor was newly established in 2006, an asset purchase from a mid-tier energy producer gave the company a start with 13,000 acres and nominal production. From its early beginning, Endeavor focused on increasing land position and production.

Endeavor currently produces a modest 125 BOED barrels of oil equivalent (BOE) and adding 1,500 to 2,000 BOED with an $11.5 million 2007-drill campaign. At year-end 2008, Endeavor will producing over 4,000 BOED with a revenue target of $25 million. At year-end 2009, Endeavor will be producing over 5,500 BOED with a revenue target of $51 million increasing to $112 million by the end of 2011.

The Canadian operations will generate 90% of production and provide a solid foundation for a growing portfolio. Today, the company has approximately 100,000 net acres under review within Alberta and Saskatchewan, partnering with industry leaders, such as Devon Energy and Penn West Energy Trust to develop prospective reserves in the Canadian prairies proving the company's expertise and growth model.

AUSTRALIA

VIC/P60 is 340,000 net acres in the shallow water of the Bass Straight off the coast of Victoria, Australia. Endeavor has purchased 62.5% of the concession and has partnered with Holloman Engineering of Dallas, Texas to explore and develop the prolific Bass Straight oil fields.

The area includes several major discoveries in various stages of development since late 1960's and has yielded billions of barrels of production. Several of the world's largest oil and gas companies are producing, developing and exploring adjacent to Endeavor's oil and gas concession.

Endeavor and Holloman have identified 6 prospective leads, based on independent reports by ISIS Petroleum Consultants predetermining the A1 lead (one of six) potentially holding reserves from 80 to 120 MMBO. These defined indicators combined with Holloman's expertise in the area convinced Endeavor to participate in this world-class exploration prospect.

Combining low-risk deliverable results of Endeavor Energy Alberta and the high reward of Endeavor Energy Australia together offer significant near-term and longer-term growth.


Alberta Properties:

The Corporations lands are located in prolific gas regions in Southern Alberta consisting of proven shallow and deep gas anomalies.

WARNER

The Corporation has a 40% working interest in 16.5 sections in the Warner area (approx. Twp. 5 Rge 17W4M), and this area offers the potential for multi zone production from the Barons, Medicine Hat, Bow Island and Belly River formations.

The Corporation has three producing wells contributing 100 BOED. Reservoir mapping and overall well productivity suggests the Barons sand reservoir quality improves northwest along the trend. As a result of reduced sizes for spacing units, the Corporation has locations for three new offset wells, and the opportunity for over 100 shallow gas wells.

SOUTH TABER

In the South Taber area (approx. Twp. 9 Rge 17W4M) the Corporation has a 50% working interest in 640 acres of land (1 section). There is currently one Barons gas well on the property (25 BOED to the Corporation), with the opportunity for three additional wells.

DIAMOND

In the Diamond area (approx Twp. 10 Rge 23W4) the Corporation has a 50% operated working interest in 1920 acres of land (3 sections). In this area the Bow Island and Barons zones indicate sizeable potential. An exploration drilling location has been identified and is in the process of regulatory approval. At present the Corporation has three standing wells in place waiting for the pipeline completion in early third quarter 2007. A fourth Bow Island well location has been selected and scheduled to spud in July of 2007.

BOW ISLAND

This area of southern Alberta is prospective for gas in the Bow Island sandstone. Endeavor has been offered the right to drill to earn in 2 sections of land (1280 acres). The wells are approximately 2800' and very close to tie in. Stable production rates of 250-300mcf/d are expected, giving a 6 month payout.

Chigwell

Chigwell is in south central Alberta and is both oil and gas prone in numerous zones. Endeavor's prospect in the area is for the Lower Mannville channel and the Glauconite channel. In the immediate vicinity of our farm-in lands the 2 reservoirs are stacked on top of each other.

The company has a farm-in on Quicksilver lands with over 1280 acres, a drill 1 section and an option on another.  Other lands are available in the area for the shallower Viking gas zone. A well here would be 1600 m. and cost about $500,000.


Saskatchewan Properties:

Alberta / Saskatchewan border is prone to both oil and gas in multiple zones. Endeavor has accumulated an impressive 9 areas in this prolific gas region for future development.

SOUTH/WEST SASKATCHEWAN

This area lies along the Alberta/Saskatchewan border and is prone to both oil and gas in multiple zones. The primary objective is the lower Mannville sand which produces both oil and gas at 30-50bopd and/or 250mcf/d. Endeavor has 1 seismic line in the area with a strong drillable location. Well depth is approx. 3000', which leads to possible pay in the Bakken, Mannville, Colony, Viking and Belly River zones.

Marengo

This area is both oil and gas prone. Oil in the Lower Mannville and Bakken, and gas prone in the shallower Viking sandstone. Endeavor has signed a confidentiality agreement with Penn West in the area to review some 100 miles of their seismic data. We have offered Penn West 2 wells in the area, and will finalize once we have reviewed the seismic. Wells are 900 metres deep and cost $300,000. Flow rates are in the 30+ bopd range. Endeavor is evaluating 7,040 acres and has committed to 2 wells in the area.

SUPBERB

Supberb is an area with numerous MacLaren channel sands, these are fluvial in nature and very thick if encountered and they are narrow in width (1/4 mile) but can be 20 miles long. Usually they are filled with heavy oil, with 30-60' of pay. Production rates are 30-50 bopd, but yield very high reserve values. Some seismic data will be required to delineate the channel edges.

BIGORAY

This area is in west central Alberta and the Nisku porosity play has began to heat up again. New seismic has led to new drilling in the area. The Nisku porosity develops over the lower Leduc platform highs. These are very subtle to see and a seismic model must be used to firm up leads prior to shooting more data. Wells are 7,500' and exceed $1,000,000, but can yield up to 2,100 bopd, with reserves from 1,000,000-10,000,000 bbls per well. Endeavor is in the first stages of exploration in the area.

COURT

The Court areas is prone to both oil and gas production. The main producing horizons are the Bakken, Lower Mannville, Upper Mannville and the Viking.

Wells can expect oil production in the 30-80 bopd from both the Bakken and Lower Mannville zones. These reservoirs are deposited along structural flanks and erosional highs.

The Upper Mannvile and the Viking are productive along oriented structures, primarily NW-SE, and usually produce gas. Rates vary from 250-500 mcf/d. Endeavor is in negotiations to acquire over 10,000 acres under option and are presently surveying 3 drill locations.

ONARD

The Onard is an oil prospect in the Lower Mannville sandstones. These relatively small pools are trapped along flanks of Paleozoic highs. The sands are very porous and permeable and can produce up to 1 million barrels from less than 400 acres.

Production rates vary from 60-100 bbls/d. Endeavor has the opportunity to acquire 8,000 - 10,000 acres under option, the company has identified two locations and have requested seismic to delineate further prospects.

CENTRAL

Endeavor has entered into an agreement with a partner to shoot $500,000 worth of new seismic data in 4 huge areas of central Saskatchewan within the north extension of the Williston Basin. These areas are: Foram Lake, Shell Lake, Whitehill Lake and Moose Jaw. Most oil and gas in Saskatchewan is in the S.E. corner or the Western half of the province where there are areas of multiple stacked reservoir rocks. Despite this, reservoir quality is abundant in the central part of the province but "traps" are needed. To this end, Endeavor will shoot some 250 km. of data in the Fall and will have the opportunity to drill to earn in 1,000,000 + acres.  It is estimated the average well cost is $200.000 cased.

Luseland

This area in east central Saskatchewan is oil prone in numerous horizons, from the lower Bakken, Lower Mannville, Waseca and McLaren channels. Endeavor's prospects are on lands available to them from Devon Canada; they are freehold lands and are subject to a freehold royalty of 17.5%. One prospect is offsetting older Bakken oil wells that were abandoned with considerable oil left to recover. The company believes they can get up to 7m. of net oil pay in an offset location. The second prospect is a little S.W. of the first and is exploring for the Waseca-McLaren channel. This channel can be 60m. thick with oil pay from top to bottom. In both cases, well depths would be 950m. and cost $300,000 cased. Production rates would be 30+ bopd and reserves can be 100,000 bbls to 250,000 bbls. recoverable.

Onward

This area is again in west central Saskatchewan. The area is prone to oil in 3 zones, the Bakken, Lower Mannville and the Waseca/McLaren channels. Endeavor has farmed-in on 3 sections of Devon lands and has posted 3 sections of Crown land for a sale in August/07. The company's prospects are primarily for the Lower Mannville sand, the company is attempting to extend a known oil pool, which has produced 1 million barrels from section. Endeavor acquired a north/south seismic line offsetting the lands and after review, has 3 drillable locations. Wells cost $300,000 and are 950m. Flow rates can be 30-100 bopd.

Whiteside

This area is just west of Kindersley and is an area that is productive in zones from the deep Bakken to the very shallow Milk River. It can be prone to both oil and gas. Endeavor has entered into a confidentiality agreement with Penn West to explore some 5120 acres using Penn West seismic data.

Endeavor has committed to 2 wells in the area. Wells cost $300,000 for a deeper test and can produce at rates from 250mcf/d to 1,000 mcf/d. The Viking is productive in the area and will be a bail out zone if the deeper horizons do not work out. Bakken gas is the primary zone for Endeavor.


Australia:

VIC/P60 - Location of Gippsland Assets

VIC/P60 is 340,000 net acres in the shallow water of the Bass Straight off the coast of Victoria, Australia. Endeavor has purchased 62.5% of the concession and has partnered with Holloman Engineering of Dallas, Texas to explore and develop the prolific Bass Straight oil fields.

The area includes several major discoveries in various stages of development since late 1960's and has yielded billions of barrels of production. Several of the world's largest oil and gas companies are producing, developing and exploring adjacent to Endeavor's oil and gas concession.

Endeavor and Holloman have identified 6 prospective leads, based on independent reports by ISIS Petroleum Consultants predetermining the A1 lead (one of six) potentially holding reserves from 80 to 120 MMBO. These defined indicators combined with Holloman's expertise in the area convinced Endeavor to participate in this world-class exploration prospect.

Combining low-risk deliverable results of Endeavor Energy Alberta and the high reward of Endeavor Energy Australia together offer significant near-term and longer-term growth.

VICP60 - Key Stats

  • 340,000 hectares offshore block granted 2004
  • Multi-million oil reserve potential
  • Over 5000 miles of 2D seismic reprocessed with Kingdom
  • 6 prospective leads confirmed with converging seismic lines
  • 25 square miles of 3D seismic scheduled third quarter 2007
  • Two recent oil discoveries at Archer 1MMBO and King Fisher 1BBO

In excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been discovered in the basin since exploration drilling began in 1964.

A-1 Prospect, one of the 6 structures in the VIC/P60 play, could potentially contain approximately $1,500,000,000 in reserves.

Remaining reserves estimated at 600 million barrels of oil and 5 trillion cubic feet of gas.

VICP60 - Property History

The history of oil production in the Gippsland Basin dates back to 1924 when Lake Bunga-1, intended to drill for water, was spudded near the township of Lakes Entrance. The well encountered a 13 meter oil column in glauconitic conglomerates (top Latrobe Group interval) and was followed by over 60 wells.

Extensive exploration in the Gippsland Basin did not commence before the mid-1960s, after seismic surveys had imaged the Central Deep and identified several anticlinal closures.

The first successful well, East Gippsland Shelf-1 (later known as Barracouta-1), was drilled by Esso in 1964/65 and discovered a 102.5 meter gas column at a depth of 1,060 meters. Following the subsequent major gas discovery at Marlin, the Gippsland Basin was initially perceived as a significant gas and oil province. And, when the Kingfish-1 was drilled in 1967 and encountered the largest Australian oil field known to date, the Gippsland Basin had gained international recognition.

In excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been discovered in the basin since exploration drilling began in 1964, with remaining reserves estimated at 600 million barrels of oil and 5 trillion cubic feet of gas.

Despite its long history of extensive exploration, many parts of the basin, especially the eastern region, are still not fully understood. A few successful major players have entered the exploration scene and the amount of seismic data, particularly 3D, is being used to gain full knowledge of the basin.


Recent News and Press Releases:

Endeavor Energy Corporation Announces Acquisition of Endeavor Canada Corporation (Mon, Aug 06)

Dujour Products, Inc. Announces Name Change and Trading Symbol (Fri, Jul 20)


Management Team:

Cameron King, MBA - President & CEO

Cameron King is founder, President and Chief Executive Officer of Endeavor Energy Corporation. Through an acquisition and purchase strategy, Cameron has built the company into what is today, regarded as a premier junior oil and gas company amongst its peers. Since its inception in early 2006, the company has been responsible for assembling more than 31 sections of land under its direct control and ownership, another 45 sections under Joint Operating Agreements with some of Canada's major producers. Cameron has over 15 years of public and private company experience advising several junior oil and gas companies as a director and senior management. He was responsible for a major gas discovery in SW Alberta, which has grown into a major development strategy for Endeavor. Cameron holds an MBA from Lake Superior University, Michigan and a Finance degree from McMaster University, Hamilton, ON. Cameron's experience into oil and gas started in 1987 with Algoma Steel, in sales and product development for oil and gas drilling and casing products. In 1991, Cameron launched a career with the Bank of Nova Scotia, Toronto ON in Commercial and Corporate lending which grew into a key role and member of the Bank's M&A team. In 1999 Cameron set up King Capital Corporation which held the mandate to finance development companies that possessed quality management teams with realizable sales and production goals. Cameron's financial commitment to Endeavor Energy has been paramount to the continuation of the Corporation's long term success.

Robert Wesolek C.P.A. CFO

Mr. Robert Wesolek, has more than 25 years senior executive experience in both public accounting and private industry. For the period from March 2004 through January 2007, Mr. Wesolek served as chief financial officer and/or Director of House of Brussels Chocolates, Inc., a publicly traded manufacturer and wholesale distributor of chocolate confections. From October 1998 to January 2004, Mr. Wesolek served as president and chief executive officer of The Navigates Corporation, a privately held software developer. During the period from November 1998 to January 2001, he also served as chief financial officer for Sharp Technology Inc., a publicly traded software redistributor. From 1996 to 1998, Wesolek was president of the Desktop Software Division of Citadel Security Software, Inc. (then Citadel Technology, Inc.), a publicly traded security software vendor, and from 1988 to 1996, he served as chief operating officer of Kent Marsh Ltd., Inc., a desktop software provider for the Windows and Macintosh platforms. During the period from 1979 to 1987, Mr. Wesolek was a Senior Practice Manager in the Audit Division of Arthur Andersen LLP.

Keith Miles, Engineer - VP of Operations

Mr. Miles began his career in the oil and gas industry in the mid-seventies, after receiving a B.Sc.(Advanced) from the University of Saskatchewan. Mr. Miles has gained extensive experience throughout the years in areas of geological mapping, seismic evaluation, sample evaluation and project management. Most recently, Mr. Miles has held a key position at Cimarron Holdings Ltd as Vice President Exploration. He was instrumental in putting together 52,000 gross acres of exploration lands in western Saskatchewan, and had 85% success rate for the entire exploration projects.


 

Headquarters:
Suite 1110, 521 - 3rd Avenue SW Calgary, AB, Canada T2P 3T3

 
Investor Relations:
(403) 536-9954
 

website

Stock Information:
Listing: OTCBB
Ticker Symbol: ENEC

Recent price: 
$ 1.60

ENEC filings with SEDAR can be found here. All Fillings are current and the Company is fully reporting.

 


Disclaimer:

BayStreet.ca articles are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases.  Information contained in this report was written in an commentary fashion. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. The information provided in this article is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.

Copyright 1999-2005. BayStreet.ca. All rights reserved. BayStreet.ca is not a Registered Broker/Dealer or Financial Advisor, nor do we hold ourselves out to be. All materials presented on our web site and individual reports released to the public through this web site, e-mail or any other means of transmission are not to be regarded as investment advice and are only for informative purposes. Before making a purchase or sale of any securities featured on our web site or mentioned in our reports, we strongly encourage and recommend consultation with a registered securities representative. This is not to be construed as a solicitation or recommendation to buy or sell securities. As with any stock, companies we select to profile involve a degree of investment risk and volatility. Particularly Small-Caps and OTC-BB stocks. All investors are cautioned that they may lose all or a portion of their investment if they decide to make a purchase in any of our profiled companies. Past performance of our profiled stocks is not indicative of future results. The accuracy or completeness of the information on our web site or within our reports is only as reliable as the sources they were obtained from. The profile and opinions expressed herein are expressed as of the date the article is posted on site and are subject to change without notice. No investor should assume that reliance on the views, opinions or recommendations contained herein will produce profitable results. BayStreet.ca may hold positions in securities mentioned herein, and may make purchases or sales in such securities featured on our web site or within our reports. In order to be in full compliance with the Securities Act  of 1933, Section 17(b), BayStreet.ca will disclose in it's disclaimer, what, if any compensation was received for our efforts in researching, presenting and disseminating this information to our subscriber database and featuring the report on the BayStreet.ca web site.  BayStreet.ca has been compensated two thousand two hundred and fifty dollars, by a non-affiliated third-party, MW Media Inc. for its efforts in presenting the VSPC profile on its web site and distributing it to its database of subscribers as well as other services.  BayStreet.ca may decide to purchase or sell shares on a voluntary basis in the open market before, during or after the profiling period of this report. Information presented on our web site and within our reports contain "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects'", "will," "anticipates," "estimates, "believes," or that by statements indicating certain actions "may," "could," or "might" occur.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SMALL CAP SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.

We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission (SEC) at: http://www.sec.gov and/or the National Association of Securities Dealers (NASD) at: http://www.nasd.com . Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.

 


ADVERTISEMENT

 
                                                       

copyright 1998 - 2010 BayStreet.ca Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes.
Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Data is provided by QuoteMedia.com