Endeavour International 8-K Strong Quarterly Financial Results and Cash Flows

Exhibit 99.1

For immediate release

Endeavour Reports

Strong Quarterly Financial Results and Cash Flows

Houston, TX – November 4, 2008 —Endeavour International Corporation (AMEX:END) (LSE: ENDV) today reported revenues increased more than 50 percent to $71.5 million during the third quarter of 2008 reflecting sales volumes of 8,500 barrels of oil equivalent per day. This compares to revenues of $47.2 million for the same period in 2007. The company reported net income to common stockholders for the third quarter of 2008 of $75.5 million or $0.36 per diluted share as compared to a net loss of $11.7 million or $0.09 per diluted share for the same period in 2007. Discretionary cash flow for the period grew to $30.1 million as compared to $27.2 million reported in the third quarter of 2007.

Net income as adjusted for the quarter was $5.9 million, or $0.03 per diluted share, compared to net loss as adjusted of $1.7 million, or $0.01 per diluted share, in the third quarter last year. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) increased to $47.8 million in the third quarter this year from $32.4 million in the third quarter a year ago.

“It is fair to say that Endeavour is the only company among the small-cap independents in the North Sea that is self-funded with an active and successful drilling program and assets under development which can increase production significantly in 2010,” said William L. Transier, chairman and chief executive officer. “The company continues to demonstrate strong financial performance and the ability to generate cash flow while reducing debt by another $15 million for the second quarter in a row. During the quarter, we also extended our run of exploration and appraisal successes to nine wells including sidetracks with two near-field exploration discoveries in Norway.”

Operational highlights of the third quarter include:

A string of exploration successes in Norway continues– Endeavour and its partners have made seven consecutive discoveries in the Norwegian North Sea as part of satellite drilling near the Njord and Brage fields in Norwegian North Sea. A discovery well and sidetrack at the Noatun C prospect in PL107 encountered gas condensate in the targeted Jurassic sandstone with preliminary estimates by the operator Statoil Hydro of recoverable resources between 30 – 50 million barrels oil equivalent. The Noatun wells are potential tiebacks to the Njord field that lies 16 kilometers south. Endeavour holds a 2.5 percent equity interest in the Noatun discovery and Njord field. In addition, Endeavour announced a discovery at the Knockandoo prospect in PL055 with production to begin immediately upon completion from Brage field facilities. The Brage platform well, 31/4-A-01 AT2, found oil in the upper part of the Middle Jurassic Brent Group. Endeavour has 4.44% equity in the well and the Brage field.

The submission of a field development plan for Columbus discovery– Endeavour and its partners have submitted a Field Development Plan (FDP) for the Columbus field located on Block 23/16f in the United Kingdom sector of the Central North Sea. The plan calls for a multi-phased subsea tieback to link

Columbus production to the BP-operated ETAP processing complex located 23 kilometers to the west. First production is forecast to begin in the second half of 2010. The Columbus gas condensate discovery was announced in December 2006 after well 23/16f-11 tested at a rate of 17.5 million cubic feet of gas per day and 1,060 barrels of condensate per day. Two successful appraisal wells drilled during the fourth quarter of 2007 confirmed the field commerciality. Endeavour owns a 25 percent working interest in Block 23/16f.

Upcoming drilling operations – During the fourth quarter, Endeavour expects to participate in two strategic wells in the United Kingdom sector of the North Sea. The company will operate the drilling of the Rochelle appraisal well scheduled to spud mid-November in Block 15/27 in the Moray Firth Basin. The company holds a 55.6 percent interest in the well. The first appraisal well in Fault Block II at the Cygnus gas discovery made in 2006 on Block 44/11 in the Southern Gas Basin is also slated to begin drilling in late November. Endeavour owns a 12.5 percent interest in the block.

Guidance on Year 2008 Estimates Remains Unchanged

The table below sets forth estimates of the company’s operating statistics for the full year ending December 31, 2008.

Estimated Average Production (A)
Daily Production (boepd)		8,600		to		9,000
Differentials (B)
Oil ($/bbl)	$	(4.00	)	to	$	(5.00	)
Gas ($/mcf)	$	(0.30	)	to	$	(0.40	)
Gas Percentage of Total		50	%	to		55	%
Lease operating expense (per barrel)	$	14.00		to	$	15.00

(A) Actual results may differ materially from these estimates.

(B) For purposes of the estimates, assumptions of price differentials are based on location, quality and other factors, excluding the effects of derivative financial instruments. Gas price differentials are stated as premiums (discounts) from National Balancing Point pricing, and oil price differentials are stated as premiums (discounts) from Dated Brent pricing.

Earnings Conference Call and Web Cast, Today, November 4, 2008 at 9:00 A.M. CST (10:00 A.M. EST) (3:00 P.M. UK)

Endeavour will host a conference call and web cast today to discuss 2008 third quarter financial and operational results at 9:00 a.m. Central Standard Time, 3:00 p.m. UK time. To participate during the conference call, dial the local country telephone number and the confirmation code 6134895. The toll-free numbers are888-708-5692 in the United States,0 800 051 7166 in the United Kingdom, and800 191 83 in Norway. Other international callers should dial913-312-0962(tolls apply). To listen to the live audio web cast access Endeavour’s home page athttp://www.endeavourcorp.com.

Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea. For more information, visit www.endeavourcorp.com.

This press release includes “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. Forward-looking statements give the company’s current expectations or forecasts of future events. They include expected oil and natural gas production and future expenses, projections of future oil and natural gas prices, and statements concerning anticipated business strategy and other plans and objectives for future operations. The company cautions that undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this press release, and the company undertakes no obligation to update this information.

Factors that could cause actual results to differ materially from expected results are described in “Risks related to the company’s Business” under “Risk Factors” in Item 1A of the company’s annual reports on Form 10-K. These risk factors include, among others, the company’s ability to replace reserves and sustain production; the level of indebtedness; the availability of capital on an economic basis to fund reserve replacement costs; uncertainties in evaluating oil and natural gas reserves of acquired properties and associated potential liabilities; unsuccessful exploration and development drilling; and production interruptions that could adversely affect the company’s cash flow.

For further information:
Endeavour – Investor Relations
Mike Kirksey	713-307-8700
Tristone Capital – UK Broker
Majid Shafiq	+44 (0) 207 355 5800
Pelhampr – Media
Philip Dennis	+44 (0) 207 743 6363
Mark Antelme	+44 (0) 203 178 6242

Endeavour International Corporation

Comparative Condensed Consolidated Balance Sheets

(Unaudited)

	September 30, 2008		December 31, 2007
Assets
Current Assets:
Cash and cash equivalents	$	25,677	$	16,440
Restricted cash		22,000		22,000
Accounts receivable		40,938		33,291
Prepaid expenses and other current assets		38,482		46,516
Total Current Assets		127,097		118,247
Property and Equipment, Net		315,728		335,023
Goodwill		284,549		283,324
Other Assets		8,416		11,029
Total Assets	$	735,790	$	747,623
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable	$	20,152	$	31,036
Accrued expenses and other		75,844		50,013
Total Current Liabilities		95,996		81,049
Long-Term Debt		225,885		266,250
Deferred Taxes		120,480		135,552
Other Liabilities		107,547		69,623
Total Liabilities		594,908		552,474
Commitments and Contingencies
Series C Convertible Preferred Stock		125,000		125,000
Stockholders’ Equity		60,882		70,149
Total Liabilities and Stockholders’ Equity	$	735,790	$	747,623

Endeavour International Corporation

Comparative Condensed Consolidated Statement of Operations

(Unaudited)

(Amounts in thousands, except per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2008			2007			2008			2007
Revenues	$	71,475		$	47,169		$	219,072		$	121,580
Cost of Operations:
Operating expenses		10,900			9,546			34,887			29,984
Depreciation, depletion and amortization		18,949			21,728			64,073			56,189
General and administrative		4,966			4,096			14,553			14,623
Total Expenses		34,815			35,370			113,513			100,796
Income From Operations		36,660			11,799			105,559			20,784
Other Income (Expense):
Derivatives:
Realized gains (losses)		(13,631	)		341			(31,276	)		15,356
Unrealized gains (losses)		119,089			(13,032	)		(41,239	)		(41,340	)
Interest income		264			552			956			1,738
Interest expense		(4,602	)		(4,676	)		(18,138	)		(13,604	)
Other		5,810			(1,430	)		4,519			(3,310	)
Total Other Income (Expense)		106,930			(18,245	)		(85,178	)		(41,160	)
Income (Loss) Before Income Taxes		143,591			(6,446	)		20,381			(20,376	)
Income Tax Expense		65,395			2,395			23,001			1,812
Net Income (Loss)		78,196			(8,841	)		(2,620	)		(22,188	)
Preferred Stock Dividends		2,708			2,840			8,113			8,529
Net Income (Loss) to Common Stockholders	$	75,487		$	(11,681	)	$	(10,733	)	$	(30,717	)
Net Income (Loss) Per Common Share:
Basic	$	0.59		$	(0.09	)	$	(0.08	)	$	(0.25	)
Diluted	$	0.36		$	(0.09	)	$	(0.08	)	$	(0.25	)
Weighted Average Number of Common Shares Outstanding:
Basic		127,810			123,649			127,658			121,981
Diluted		211,811			123,649			127,658			121,981

Endeavour International Corporation

Comparative Condensed Consolidated Statement of Cash Flows

(Amounts in thousands)

	Nine Months Ended September 30,
	2008			2007
Cash Flows from Operating Activities:
Net loss	$	(2,620	)	$	(22,188	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization		64,073			56,189
Impairment of oil and gas properties		—			—
Deferred tax benefit		(5,568	)		(1,414	)
Unrealized loss on commodity derivatives		41,239			41,340
Amortization of non-cash compensation		2,378			3,973
Amortization of loan costs		6,135			1,275
Other		(568	)		187
Net change in assets and liabilities:		(3,721	)		15,827
Net Cash Provided by Operating Activities		101,348			95,189
Cash Flows From Investing Activities:
Capital expenditures		(46,512	)		(63,325	)
Increase in restricted cash		—			(20,133	)
Net Cash Used in Investing Activities		(46,512	)		(83,458	)
Cash Flows From Financing Activities:
Net repayments of borrowings		(32,000	)		(40,000	)
Dividends paid		(7,969	)		—
Financing costs paid		(5,116	)
Other		(514	)		(157	)
Net Cash Used in Financing Activities		(45,599	)		(40,157	)
Net Increase (Decrease) in Cash and Cash Equivalents		9,237			(28,426	)
Effect of Foreign Currency Changes on Cash		—			4,369
Cash and Cash Equivalents, Beginning of Period		16,440			39,814
Cash and Cash Equivalents, End of Period	$	25,677		$	15,757

Endeavour International Corporation

Comparative Operating Statistics

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2008			2007			2008			2007
Sales Volume:
Oil and condensate sales (Mbbl):
United Kingdom		235			361			834			982
Norway		204			136			545			391
Total		439			497			1,379			1,373
Gas sales (MMcf):
United Kingdom		1,470			2,306			5,149			6,657
Norway		575			72			1,640			181
Total		2,045			2,378			6,789			6,838
Total sales (MBOE):
United Kingdom		480			745			1,692			2,092
Norway		300			148			818			421
Total		780			893			2,510			2,513
BOE per day		8,477			9,713			9,162			9,205
Physical production volume:
Total production (MBOE):
United Kingdom		5,075			7,986			6,064			7,860
Norway		2,763			1,668			2,816			1,561
Total		7,838			9,654			8,880			9,421
Realized Prices:
Oil and condensate price ($ per Bbl):
Before commodity derivatives	$	106.22		$	70.17		$	101.60		$	62.55
Effect of commodity derivatives	$	(23.70	)	$	(3.24	)	$	(20.78	)	$	1.18
Realized prices including commodity derivatives	$	82.52		$	66.93		$	80.82		$	63.73
Gas price ($ per Mcf):
Before commodity derivatives	$	12.14		$	5.16		$	11.63		$	5.22
Effect of commodity derivatives	$	(1.58	)	$	0.82		$	(0.39	)	$	2.01
Realized prices including commodity derivatives	$	10.56		$	5.98		$	11.24		$	7.23
Equivalent oil price ($ per BOE):
Before commodity derivatives	$	91.65		$	52.79		$	87.26		$	48.38
Effect of commodity derivatives	$	(17.48	)	$	0.38		$	(12.46	)	$	6.11
Realized prices including commodity derivatives	$	74.17		$	53.17		$	74.80		$	54.49

Endeavour International Corporation

Reconciliation of GAAP to Non-GAAP Measures

(Unaudited)

(Amounts in thousands, except per share data)

As required under Regulation G of the Securities Exchange Act of 1934, provided below are reconciliations of net income (loss) to the following non-GAAP financial measures: net income as adjusted, Adjusted EBITDA and discretionary cash flow. The company uses these non-GAAP measures as key metrics for the management of the company and to demonstrate the company’s ability to internally fund capital expenditures and service debt. The non-GAAP measures are useful in comparisons of oil and gas exploration and production companies as they exclude non-operating fluctuations in assets and liabilities.

(in thousands, except per share)	Three Months Ended September 30,						Nine Months Ended September 30,
	2008			2007			2008			2007
Net income (loss)	$	78,196		$	(8,841	)	$	(2,620	)	$	(22,188	)
Depreciation, depletion and amortization		18,949			21,728			64,073			56,189
Deferred tax (expense) benefit		52,709			(474	)		(5,568	)		(1,414	)
Unrealized (gains) losses on derivative instruments		(119,089	)		13,032			41,239			41,340
Amortization of non-cash compensation		1,182			1,238			2,378			3,973
Amortization of loan costs and discount		1,556			435			6,135			1,275
Non-cash interest expense		1,209			—			3,252			—
Other		(4,568	)		94			(3,819	)		187
Discretionary cash flow(1)	$	30,144		$	27,212		$	105,070		$	79,362
Net income (loss) to common shareholders, as reported		75,487			(11,681	)		(10,733	)		(30,717	)
Unrealized (gains) losses on commodity derivatives (2)		(56,404	)		6,516			19,689			20,670
Unrealized (gains) losses on embedded derivatives		(6,280	)		—			1,860			—
Currency impact of deferred taxes		(6,926	)		3,457			(4,203	)		7,920
Net income (loss), as adjusted	$	5,877		$	(1,708	)	$	6,613		$	(2,127	)
Weighted average number of common shares outstanding – diluted		211,811			123,649			127,658			121,981
Earnings (loss) per diluted share, as adjusted	$	0.03		$	(0.01	)	$	0.05		$	(0.02	)
Net income (loss) to common shareholders, as reported	$	75,487		$	(11,681	)	$	(10,733	)	$	(30,717	)
Unrealized (gains) losses on derivatives		(119,089	)		13,032			41,239			41,340
Net interest expense		4,338			4,124			17,182			11,867
Depreciation, depletion and amortization		18,949			21,728			64,073			56,189
Income tax expense		65,395			2,395			23,001			1,812
Preferred stock dividends		2,709			2,840			8,113			8,529
Adjusted EBITDA	$	47,789		$	32,438		$	142,875		$	89,020

(1) Discretionary cash flow is equal to cash flow from operating activities before the changes in operating assets and liabilities.

(2) Net of tax benefits of $56,404, $(6,516), $(19,690) and $(20,670), respectively.