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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON SEPTEMBER 29,
2005</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>

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<p align="right" style="border:none;color:windowtext;margin:0in 0in .0001pt;padding:0in;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">United States</font></b></p>

<p align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">Securities and Exchange
Commission</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Form S-8</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">REGISTRATION STATEMENT</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">UNDER THE SECURITIES ACT OF 1933</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Endeavour International Corporation</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact Name of Registrant as Specified in Its Charter)</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Nevada</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">88-0448389</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other jurisdiction of&nbsp;Incorporation or Organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer Identification No.)</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">1000 Main Street, Suite 3300</font></b></p>

<p align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Houston, Texas 77002</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal Executive Offices)</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Endeavour International Corporation 2004 Incentive
Plan</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Non-Plan Restricted Stock Award Agreements</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Non-Plan Stock Option Agreement</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Full Title of the Plans)</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">H. Don Teague</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Executive Vice President</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Endeavour International Corporation</font></b></p>

<p align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">1000 Main Street, Suite 3300</font></b></p>

<p align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Houston, Texas 77002</font></b></p>

<p align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">(713) 307-8700</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name, Address, Including Zip Code, and Telephone Number, Including
Area Code, of Agent for Service)</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">COPIES TO:</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Christopher A. Ferazzi<br>
Porter &amp; Hedges, L.L.P.</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1000 Main Street, 36th Floor</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Houston, Texas 77002-3663</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(713) 226-6600</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CALCULATION OF REGISTRATION FEE</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="37%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:37.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">TITLE
  OF EACH CLASS OF SECURITIES TO<br>
  BE REGISTERED</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.14%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">AMOUNT<br>
  TO BE<br>
  REGISTERED (1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">PROPOSED<br>
  MAXIMUM<br>
  OFFERING<br>
  PRICE PER<br>
  SHARE</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.48%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">PROPOSED<br>
  MAXIMUM<br>
  AGGREGATE<br>
  OFFERING PRICE</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">AMOUNT OF<br>
  REGISTRATION<br>
  FEE (4)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.06%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="37%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:37.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock, par value $0.001 per share</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.14%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,000,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.95</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,700,000</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,495.69</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.06%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="37%" valign="top" style="padding:0in 0in 0in 0in;width:37.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock, par value $0.001 per share</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.14%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">400,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.95</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.18%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,980,000</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">233.05</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.06%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="37%" valign="top" style="padding:0in 0in 0in 0in;width:37.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock, par value $0.001 per share</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.14%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">400,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.02</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.18%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,008,000</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">236.34</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.06%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="37%" valign="top" style="padding:0in 0in 0in 0in;width:37.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.14%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,800,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.18%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33,688,000</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.3%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.7%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,966</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.06%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="left">

</font></div>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160; This Registration Statement covers (i)
6,000,0000 shares of common stock, par value $0.001 per share (the &#147;Common
Stock&#148;), of Endeavour International Corporation (the &#147;Registrant&#148;) issuable
pursuant to the Endeavour International Corporation 2004 Incentive Plan (the
&#147;Incentive Plan&#148;), (ii) 400,000 shares of Common Stock issued pursuant to the
non-plan restricted stock award agreement dated effective August 26, 2005 (the
&#147;Restricted Stock Award Agreement&#148;), between the Registrant and Lance Gilliland
and (iii) 400,000 shares of Common Stock issuable pursuant to the non-plan
stock option agreement dated effective August 26, 2005 (the &#147;Stock Option
Agreement&#148;), between the Registrant and Lance Gilliland.&#160; Pursuant to Rule 416 under the Securities Act
of 1933, as amended (the &#147;Securities Act&#148;), the number of shares registered
hereby shall also be deemed to include such indeterminate number of additional
shares of common stock that may be issued or have been issued pursuant to the
Incentive Plan, the Restricted Stock Award Agreement and the Stock Option
Agreement to prevent dilution resulting from stock splits, stock dividends or
similar transactions.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160; Estimated solely for the purpose of
calculating the amount of the registration fee in accordance with Rule 457(c)
and (h) under the Securities Act based on $4.95, the average of the high and
low sale prices for the common stock on the American Stock Exchange on
September 26, 2005.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160; These shares represent shares of Common Stock
issuable pursuant to the Stock Option Agreement and, pursuant to
Rule&nbsp;457(h), the proposed maximum offering price and the proposed maximum
aggregate offering price are estimated on the basis of the per share exercise
price of the options issued pursuant to the Stock Option Agreement solely for
purposes of calculating the registration fee.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160; Pursuant to Rule 429 under the Securities
Act, this Registration Statement includes up to (i) 6,200,000 shares of Common
Stock issued or issuable pursuant to the Incentive Plan and (ii) 2,331,250
shares of Common Stock issued pursuant to certain non-plan restricted stock
award agreements, all of which shares of Common Stock were previously
registered on Form S-8, Registration No. 333-119577.&#160; In connection with the previously registered
shares of Common Stock issued or issuable pursuant to the Incentive Plan and
certain non-plan restricted stock award agreements, the Registrant paid a
registration fee of $3,296.&#160; In
connection with this Registration Statement, the Registrant is paying a
registration fee solely on the 6,800,000 additional shares of the Common Stock
being registered.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
permitted by Rule 429 under the Securities Act, the prospectus filed as a part
of this Registration Statement on Form S-8 is a combined resale prospectus,
which shall be deemed a post-effective amendment to the Registrant&#146;s
Registration Statement on Form S-8, Registration No.&#160; 333-119577.</font></p>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p align="center" style="border:none;color:windowtext;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXPLANATORY NOTE</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
6,800,000 shares of common stock, par value $0.001 per share (the &#147;Common Stock&#148;),
of Endeavour International Corporation, a Nevada corporation (the &#147;Company&#148;),
being registered pursuant to this Form S-8 are comprised of (i) 6,000,0000
shares of Common Stock issuable pursuant to the Endeavour International
Corporation 2004 Incentive Plan (the &#147;Incentive Plan&#148;), (ii) 400,000 shares of
Common Stock issued pursuant to the non-plan restricted stock award agreement
dated effective August 26, 2005 (the &#147;Restricted Stock Award Agreement&#148;),
between the Company and Lance Gilliland and (iii) 400,000 shares of Common
Stock issuable pursuant to the non-plan stock option agreement dated effective August&nbsp;26,
2005 (the &#147;Stock Option Agreement&#148;), between the Company and Lance
Gilliland.&#160; This Registration Statement
also includes up to (i)&nbsp;6,200,000 shares of Common Stock issued or
issuable pursuant to the Incentive Plan and (ii)&nbsp;2,331,250 shares of Common
Stock issued pursuant to certain non-plan restricted stock award agreements,
which shares of Common Stock were previously registered on Form S-8,
Registration No. 333-119577 (the &#147;Prior Registration Statement&#148;).&#160; Pursuant to General Instruction E to Form
S-8, this Registration Statement incorporates by reference the contents of the
Prior Registration Statement, except as otherwise set forth herein.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">This
Registration Statement contains two parts. The first part contains a reoffer
prospectus pursuant to Form S-3 (in accordance with Section C of the General
Instructions to the Form S-8), which covers reoffers and resales of &#147;restricted
securities&#148; and/or &#147;control securities&#148; (as such terms are defined in Section C
of the General Instructions to Form S-8) of the Company.&#160; This reoffer prospectus relates to up to </font>14,072,650
</font>shares of Common Stock (including
up to (i)&nbsp;7,272,650 shares of Common Stock previously registered under the
Prior Registration Statement, (ii) 6,000,0000 shares of Common Stock issuable
pursuant to the Incentive Plan, (iii)&nbsp;400,000 shares of Common Stock
issued pursuant to the Restricted Stock Award Agreement and (iv) 400,000 shares
of Common Stock issuable pursuant to the Stock Option Agreement).&#160; The second part of this Registration
Statement contains Information Required in the Registration Statement pursuant
to Part II of Form S-8.&#160; The Form S-8
portion of this Registration Statement will be used for offers of shares of
Common Stock of the Company pursuant to the Incentive Plan.</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
prospectus is not an offer to sell these securities and it is not soliciting an
offer to buy these securities in any state where the offer or sale is not
permitted.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROSPECTUS</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">14,072,650 SHARES OF COMMON STOCK</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ENDEAVOUR INTERNATIONAL CORPORATION</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="242" height="77" src="g169231ba01i001.gif"></font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus relates to the offer and sale from time to time of up
to 14,072,650 shares (the &#147;Shares&#148;) of our common stock by the selling
stockholders named in this prospectus.&#160;
The Shares include 2,097,241 shares of our restricted common stock
granted under the Endeavour International Corporation 2004 Incentive Plan (the &#147;Plan&#148;),
57,270 shares of common stock issued to our non-employee directors under the
Plan in lieu of compensation for services as a director, 2,945,000 shares of
our common stock underlying stock options granted under the Plan, 1,466,667
shares of our restricted common stock issued pursuant to certain non-plan
restricted stock award agreements, 400,000 shares of our common stock
underlying stock options issued pursuant to a certain non-plan stock option
agreement, and 5,876,859 shares of our common stock that may subsequently be
issued to our affiliates pursuant to future grants under the Plan.&#160; The selling stockholders may offer the shares
from time to time through public or private transactions at prevailing market
prices, at prices related to prevailing market prices or at other negotiated
prices.&#160; A selling stockholder may sell
none, some or all of the shares offered by this prospectus.&#160; We cannot predict when or in what amounts a
selling stockholder may sell any of the shares offered by this prospectus.&#160; We will not receive any of the proceeds from
the sale of shares by the selling stockholders.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is traded on the American Stock Exchange under the
symbol &#147;END.&#148;&#160; On September 28, 2005, the
closing price for our common stock was $4.96.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">INVESTING IN OUR COMMON STOCK INVOLVES SIGNIFICANT RISKS THAT ARE
DESCRIBED IN THE &#147;RISK FACTORS&#148; SECTION BEGINNING ON PAGE 4 OF THIS PROSPECTUS.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF
THIS PROSPECTUS IS TRUTHFUL OR COMPLETE.&#160;
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The date of this prospectus is September 29, 2005.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Table of Contents</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="85%" valign="top" style="padding:0in 0in 0in 0in;width:85.82%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#OurCompany_112151">Our Company</a></font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="85%" valign="top" style="padding:0in 0in 0in 0in;width:85.82%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#PreliminaryNoteAndCautionaryState_112154">Preliminary
  Note and Cautionary Statement Regarding Forward-Looking Statements</a></font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="85%" valign="top" style="padding:0in 0in 0in 0in;width:85.82%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#WhereYouCanFindMoreInformation_112157">Where You
  Can Find More Information</a></font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="85%" valign="top" style="padding:0in 0in 0in 0in;width:85.82%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#IncorporationOfCertainDocumentsBy_112204">Incorporation
  of Certain Documents by Reference</a></font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.84%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
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<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><a name="OurCompany_112151"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Our
Company</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are an international oil and gas exploration and production company
primarily focused on the acquisition, exploration and development of oil and
gas reserves in the North Sea.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We were incorporated as a Nevada corporation on January 13, 2000.&#160; Our common stock is quoted on the American
Stock Exchange and began trading in June 2004 under the symbol &#147;END.&#148;&#160; Previously, our common stock traded under the
symbol &#147;EVOR&#148; on the NASDAQ Over-the-Counter Bulletin Board.&#160; Our headquarters and principal executive
offices are located at 1000 Main Street, Suite 3300, Houston, Texas 77002. Our
telephone number is (713) 307-8700. The address of our website is
www.endeavourcorp.com. The information on, or linked to or from, our website is
not part of this prospectus.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As used in this prospectus, unless the context otherwise requires,
references to the &#147;Company&#148;, &#147;Endeavour&#148;, &#147;we&#148;, &#147;us&#148; or &#147;our&#148; mean Endeavour
International Corporation, its subsidiaries and its interests in other
entities.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="PreliminaryNoteAndCautionaryState_112154"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preliminary Note and Cautionary Statement Regarding
Forward-Looking Statements</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">You should rely only on the information contained in this
prospectus.&#160; We have not authorized
anyone to provide you with information that is different.&#160; The selling stockholders are offering to sell
and seeking offers to buy shares of our common stock only in jurisdictions
where offers and sales are permitted.&#160;
The information contained in this prospectus is accurate only as of the
date of this prospectus, regardless of the time of delivery of this prospectus
or of any sale of our common stock.</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus and our documents filed with the Securities and
Exchange Commission and incorporated by reference in this prospectus include or
may contain certain forward-looking statements. The words &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148;
&#147;anticipate,&#148; &#147;believe,&#148; &#147;continue,&#148; &#147;estimate,&#148; &#147;project,&#148; &#147;intend,&#148; and
similar expressions used in this prospectus are intended to identify
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. You should
not place undue reliance on these forward-looking statements, which speak only
as of the date made. We undertake no obligation to publicly release the result
of any revision of these forward-looking statements to reflect events or
circumstances after the date they are made or to reflect the occurrence of
unanticipated events. You should also know that such statements are not
guarantees of future performance and are subject to risks, uncertainties and
assumptions. We have included important factors in the cautionary statements
included or incorporated in this prospectus, particularly under the caption &#147;Risk
Factors&#148; below that we believe could cause actual results or events to differ
materially from the forward-looking statements we make.&#160; Our</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

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</font></div>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">forward-looking statements do not reflect the potential impact of any
future acquisitions, mergers, dispositions, joint venture or investments we may
make.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="WhereYouCanFindMoreInformation_112157"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where You Can Find More Information</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are subject to the information requirements of the Securities Exchange
Act of 1934, and in accordance therewith file reports, proxy statements and
other information with the Securities and Exchange Commission.&#160; These reports, proxy statements and other
information can be inspected and copied at the Commission&#146;s Public Reference
room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549.&#160; The public may obtain information on the
operation of the Public Reference Room by calling the Commission at
1-800-SEC-0330.&#160; In addition, the
Commission maintains an Internet site at www.sec.gov that contains reports,
proxy and information statements, and other information regarding issuers that
file electronically with the Commission.&#160;
Endeavour maintains an Internet site at www.endeavourcorp.com.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have filed a registration statement with the Commission on Form S-8
(including any amendments thereto, known as the registration statement) under
the Securities Act of 1933 with respect to the shares of common stock offered
by the selling stockholders hereby.&#160; This
prospectus does not contain all of the information set forth in the
registration statement and the exhibits and schedules thereto.&#160; You may refer to the registration statement
and the exhibits and schedules thereto for more information about our common
stock and us.&#160; Statements made in this
prospectus regarding the contents of any contract or document filed as an
exhibit to the registration statement are not necessarily complete and, in each
instance, reference is herby made to the copy of such contract or document so
filed.&#160; Each such statement is qualified
in its entirety by such reference.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="IncorporationOfCertainDocumentsBy_112204"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporation of Certain Documents by Reference</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following documents, which have been previously filed by us with
the Securities and Exchange Commission under the Securities Exchange Act of
1934, are incorporated herein by reference:</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our annual report on Form 10-K, as
amended, for the year ended December 31, 2004 (File No. 001-32212).</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our quarterly reports on Form 10-Q for
the quarters ended March 31, 2005 (File No. 001-32212) and June 30, 2005 (File
No. 001-32212).</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our current reports on Form 8-K filed on
January 5, 2005, January 11, 2005 (two reports of the same date), January 14,
2005, January 24, 2005, January 26, 2005, as amended by Form 8-K/A on February
4, 2005, February 2, 2005, February 22, 2005, February 25, 2005, March 2, 2005,
March 9, 2005, April 27, 2005, May 6, 2005, July 15, 2005, August 5, 2005,
August 25, 2005, September 1, 2005,</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 6, 2005, September 13, 2005 (two reports of the same date)
and September 19, 2005 (File No. 001-32212) (excluding any information
furnished pursuant to Item 2.02 or Item 7.01 of any such current report on Form
8-K).</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The description of our common stock
contained in our registration statement on Form 8-A filed on June 10, 2004, as
amended by our amended registration statement on Form 8-A/A-1 filed on August
11, 2004 (File No. 001-32212), and including any other amendments or reports
filed for the purpose of updating such description.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All documents filed by us with the Securities and Exchange Commission
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934 (excluding any information furnished pursuant to Item 2.02 or Item 7.01
of any such current report on Form 8-K) subsequent to the date of this
prospectus and prior to the completion or termination of this offering, shall
be deemed to be incorporated by reference into this prospectus and to be a part
hereof from the date of filing of each such document. Any statement contained
herein, or in a document incorporated or deemed to be incorporated by reference
herein, shall be deemed to be modified or superseded for purposes of this
prospectus to the extent that a statement contained herein or in any
subsequently filed document which also is or is deemed to be incorporated by
reference herein, modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this prospectus.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus incorporates documents by reference that are not
delivered herewith. Copies of these documents, other than the exhibits thereto
(unless such exhibits are specifically incorporated by reference in such
documents), are available upon written or oral request, at no charge, from us.
Requests for such copies should be directed to H. Don Teague, Executive Vice
President, Administration &amp; General Counsel, at 1000 Main Street, Suite
3300, Houston, Texas 77002, or at (713) 307-8700.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></div>

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<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="RiskFactors_112208"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Risk Factors</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">An investment in our common stock involves a high degree of risk.&#160;&#160; You should consider carefully the risks and
uncertainties described below and the other information in this prospectus,
including our financial statements and related notes, before deciding to invest
in our common stock.&#160; If any of the
following risks or uncertainties actually occurs, our business, financial
condition and operating results would likely suffer.&#160; In that event, the market price of the
offered securities could decline and you could lose all or part of the money
you paid to buy our common stock.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have had operating losses to date
and do not expect to be profitable in the foreseeable future.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have been operating at a loss each year since our inception, and we
expect to continue to incur substantial losses for the foreseeable future. Net
loss applicable to common stockholders for the years ended December 31, 2004,
2003 and 2002 was $23.8 million, $41.2 million and $4.8 million, respectively.
We expect to incur substantial expenditures in connection with our oil and gas
exploration activities. Further, we expect to continue to experience negative
cash flow for the foreseeable future and cannot predict when, or if, we might
become profitable.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">If we are unable to generate additional
financing, we will not be able to adequately fund our existing development and
exploration projects, acquire additional oil and gas interests, or maintain our
rights in such projects.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may not have an adequate amount of financial resources to adequately
fund our development and exploration projects on a long-term basis. In the
past, we have relied on the sale of our debt and equity securities to fund the
acquisition, exploration and development of our petroleum properties. To
continue funding these projects and to have the ability to fund additional
projects, we will need to raise additional capital. We cannot assure you that
additional funding will be available to us for exploration and development of
our projects or to fulfill our obligations under any agreements. We also cannot
assure you that we will be able to generate sufficient operating cash flow or
obtain adequate financing in the future or that the terms of any such financing
will be favorable. Failure to generate such additional operating cash flow or
obtain such additional financing could result in delay, postponement or
cancellation of further exploration and development of our projects or the loss
of our interest in such properties.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acquiring interests in properties for
oil and natural gas exploration is speculative in nature and may not ever
result in operating revenues or profits.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We cannot assure you that we will discover oil and gas in commercial
quantities in our current properties or properties we acquire in the future.
Our success depends upon our ability to acquire working and revenue interests
in properties upon which gas and oil reserves are ultimately discovered. We
expect to ultimately derive the cash flow necessary to fund our operations from
the oil and gas produced from our producing properties and/or the sale of our
properties, but there is no assurance we will be able to do so.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event we are unable to identify
additional gas and oil prospects in which we can acquire an interest at an
affordable price, we may not be able to sustain our growth rate and ability to
spread risk.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">One element of our business strategy is to continue to grow and spread
risk through selected acquisitions of additional ownership interests in gas and
oil prospects. If we are unable to execute this aspect of our strategy in a
timely manner, we may not be able to manage our risks and our operations may be
adversely affected. Some of the consequences could be:</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>we may not be able to identify additional
desirable gas and oil prospects and acquire leasehold or other ownership
interests in such prospects at a desirable price;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any of our completed, currently planned, or
future acquisitions of ownership interests in gas and oil prospects may not
include prospects that contain proven gas or oil reserves;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>we may not have the ability to develop
prospects which contain proven gas or oil reserves to the point of commercial
production;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>we may not have the financial ability to
consummate additional acquisitions of ownership interests in gas and oil
prospects or to develop the prospects which we acquire to the point of
production; and</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>we may not be able to consummate such
additional acquisitions on terms favorable to us.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may not be able to replace
production with new reserves.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In general, the volume of production from oil and gas properties
declines as reserves are depleted. The decline rates depend on reservoir
characteristics. Our reserves will decline as they are produced unless we
acquire properties with proved reserves or conduct successful development and
exploration drilling activities. Our future natural gas and oil</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">production is highly dependent upon our level of success in finding or
acquiring additional reserves.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our recent growth is due in large part to acquisitions of producing
properties. The successful acquisition of producing properties requires an
assessment of a number of factors, some of which are beyond our control. These
factors include recoverable reserves, future oil and gas prices, operating
costs, and potential environmental and other liabilities, and other factors.
Such assessments are inexact and their accuracy is inherently uncertain. In
connection with such assessments, we perform a review of the subject
properties, which we believe is generally consistent with industry practices.
However, such a review will not reveal all existing or potential problems. In
addition, the review will not permit a buyer to become sufficiently familiar
with the properties to fully assess their deficiencies and capabilities. We
cannot assure you that we will be able to acquire properties at acceptable
prices because the competition for producing oil and gas properties is intense
and many of our competitors have financial and other resources that are
substantially greater than those available to us.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Market fluctuations in the prices of
oil and gas could adversely affect the price at which we can sell gas or oil
discovered on our properties.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Market fluctuations in the prices of oil and gas can adversely affect
the price that we can sell gas and oil discovered on our properties. In recent
decades, there have been periods of both worldwide over-production and
underproduction of hydrocarbons and periods of both increased and relaxed
energy conservation efforts. These conditions have resulted in periods of
excess supply of, and reduced demand for, crude oil on a worldwide basis and
for natural gas on a domestic basis. These periods have historically been
followed by periods of short supply of, and increased demand for, crude oil
and, to a lesser extent, natural gas. The excess or short supply of natural gas
and crude oil has placed pressures on prices and has resulted in dramatic price
fluctuations, even during relatively short periods of seasonal market demand.
We cannot predict with any degree of certainty future oil and natural gas
prices. Changes in oil and natural gas prices significantly affect our
revenues, operating results, profitability and the value of our oil and gas
reserves. Lower prices may reduce the amount of oil and natural gas that we can
produce economically. In an attempt to reduce our price risk, we periodically
enter into hedging transactions with respect to a portion of our expected
future production. We cannot assure you that such transactions will reduce the
risk or minimize the effect of any decline in oil or natural gas prices.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lower oil and gas prices may cause us
to record ceiling test write-downs.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We use the full cost method of accounting for our oil and gas
operations. Accordingly, we capitalize the cost to acquire, explore for and
develop oil and gas properties. Under full cost accounting rules, the net
capitalized costs of oil and gas properties (net of related deferred taxes),
including estimated capitalized abandonment costs, may not exceed a</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

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</font></div>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;ceiling limit&#148; which is based upon the present value of estimated
future net cash flows from proved reserves, discounted at 10% and excluding
cash flows related to estimated abandonment costs, plus the lower of cost or
fair value of unproved properties. If net capitalized costs of oil and gas
properties exceed the ceiling limit, we must charge the amount of the excess to
earnings. This is called a &#147;ceiling test write-down.&#148; This charge does not
impact cash flow from operating activities, but does reduce net income. The
risk that we will be required to write down the carrying value of oil and gas
properties increases when oil and natural gas prices are low. In addition,
write-downs may occur if we experience substantial downward adjustments to our
estimated proved reserves. We cannot assure you that we will not experience
ceiling test write-downs in the future.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The oil and gas exploration industry is
extremely competitive, which may adversely affect our profitability.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The oil and gas industry is intensely competitive and we compete with
other companies that have longer operating histories and greater financial and
other resources than we do. Many of these companies not only explore for and
produce crude oil and natural gas but also conduct refining operations and
market petroleum and other products on a worldwide basis. These competitors can
sustain longer periods of reduced prices of gas and oil and may also be in a
better position to outbid us to purchase particular interests in oil and gas
properties.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our ability to produce sufficient
quantities of oil and gas from our properties may be adversely affected by a
number of factors outside of our control. If we are unable to produce oil and
gas from our properties in commercial quantities, our operations will be
severely affected.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our business of exploring for and producing oil and gas involves a
substantial risk of investment loss. Drilling oil and gas wells involves the
risk that the wells may be unproductive or that the wells, although productive,
do not produce oil or gas in economic quantities. Other hazards, such as
unusual or unexpected geological formations, pressures, fires, blowouts, loss
of circulation of drilling fluids, or other conditions may substantially delay
or prevent completion of any well. This could result in a total loss of our
investment in a particular property. Adverse weather conditions can also hinder
drilling operations. A productive well may become uneconomic if water or other
deleterious substances are encountered, which impair or prevent the production
of oil and gas from the well. In addition, production from any well may be
unmarketable if it is impregnated with water or other deleterious substances.
As with any petroleum property, we cannot assure you that oil and gas will be
produced from the properties in which we have interests, nor can we assure the
marketability of oil and gas which may be acquired or discovered. There are
numerous factors beyond our control, including the proximity and capacity of
oil and gas pipelines and processing equipment, market fluctuations of prices, taxes,
royalties, allowable production and environmental protection. We cannot predict
how these factors will adversely affect our business.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">We operate in foreign countries and are
subject to political, economic and other uncertainties.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We currently have operations in the United Kingdom, Norway and the
Netherlands. We may expand international operations to other countries or
regions in the future. International operations are subject to political,
economic and other uncertainties, including:</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the risk of war, acts of terrorism,
revolution, border disputes, expropriation, renegotiation or modification of
existing contracts, import, export and transportation regulations and tariffs;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>taxation policies, including royalty and tax
increases and retroactive tax claims;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>exchange controls, currency fluctuations and
other uncertainties arising out of foreign government sovereignty over our
international operations;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>laws and policies of the U.S. affecting
foreign trade, taxation and investment; and</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the possibility of having to be subject to
the exclusive jurisdiction of foreign courts in connection with legal disputes
and the possible inability to subject foreign persons to the jurisdiction of
courts in the United States.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Foreign countries have occasionally asserted rights to land, including
oil and gas properties, through border disputes. If a country claims superior
rights to oil and gas leases or concessions granted to us by another country,
our interests could be lost or decreased in value. Various regions of the world
have a history of political and economic instability. This instability could
result in new governments or the adoption of new policies that might assume a
substantially more hostile attitude toward foreign investment. In an extreme
case, such a change could result in termination of contract rights and
expropriation of foreign&#151;owned assets. This could adversely affect our
interests.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the operator of a prospect in which
we participate does not maintain or fails to obtain adequate insurance, our
interest in such prospect could be materially and adversely affected.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Oil and gas operations are subject to particular hazards incident to
the drilling and production of oil and gas, such as blowouts, cratering,
explosions, uncontrollable flows of oil, gas or well fluids, fires and
pollution and other environmental risks. These hazards can cause personal
injury and loss of life, severe damage to and destruction of property and
equipment, pollution or environmental damage and suspension of operations.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We do not currently operate all of our oil and gas properties. In the
projects in which we own a non-operating interest directly or own an equity
interest in a limited partnership which in turn owns a non-operating interest,
the operator for the prospect may maintain</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

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</font></div>

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<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">insurance of various types to cover our operations with policy limits
and retention liability customary in the industry. The occurrence of a significant
adverse event that is not fully covered by insurance could result in the loss
of our total investment in a particular prospect which could have a material
adverse effect on our financial condition and results of operations.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The cost of decommissioning is
uncertain.</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As a result of our business strategy, we expect to incur obligations to
abandon and decommission certain structures in the North Sea. To date the
industry has little experience of removing oil and gas structures in the North
Sea. Fewer than 10% of the 400 structures have been removed and these were
small steel structures and sub sea installations in the shallower waters of the
Southern North Sea. In addition, certain groups have been established to study
issues relating to decommissioning and abandonment and how the costs will be
borne. Because the experience is limited, it is difficult to predict the costs
of any future decommissions for which we might become obligated.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our failure to comply with
environmental regulations could result in significant fines and penalties and
our cost of compliance with such regulations could result in large expenses,
either of which could adversely affect our operations.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our operations are subject to a variety of national, state, local, and
international laws and regulations governing the discharge of materials into
the environment or otherwise relating to environmental protection. Significant
fines and penalties may be imposed for the failure to comply with environmental
laws and regulations. Some environmental laws provide for joint and several
strict liability for remediation of releases of hazardous substances, rendering
a person liable for environmental damage without regard to negligence or fault
on the part of such person. In addition, we may be subject to claims alleging
personal injury or property damage as a result of alleged exposure to hazardous
substances such as oil and gas related products.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Some environmental protection laws and regulations may expose us to
liability arising out of the conduct of operations or conditions caused by
others, or for acts which were in compliance with all applicable laws at the
time the acts were performed. Changes in the environmental laws and
regulations, or claims for damages to persons, property, natural resources or
the environment, could result in substantial costs and liabilities to us.
Therefore, we may incur significant environmental compliance costs in the
future.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our failure to comply with various levels
of governmental regulations to which we are subject could result in significant
fines and/or penalties and our cost of compliance with such regulations could
result in large expenses, either of which would adversely affect our
operations.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Oil and gas exploration, development and production are subject to
various types of regulation by local, state and federal agencies. Regulations
and laws affecting the oil and gas industry are comprehensive and under
constant review for amendment and expansion. These regulations and laws carry
substantial penalties for failure to comply. The regulatory burden on the oil
and gas industry increases our cost of doing business and, consequently,
adversely affects our profitability.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are dependent on our executive
officers and need to attract and retain additional qualified personnel.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our future success depends in large part on the service of William L.
Transier and John&nbsp;N. Seitz, both of whom have substantial experience in
the oil and gas industry. If either were to resign it could have a material
adverse effect on our business, operating results and financial condition.
While we have employment agreements with each of Mr.&nbsp;Transier and Mr.
Seitz, there can be no assurance that such agreements will be enforceable in
all circumstances, that we will have the resources to enforce such agreements
or that we will have the ability to retain their services due to resignation or
otherwise. Further, we do not intend to maintain key-person life insurance on
either Mr.&nbsp;Transier or Mr. Seitz. Our future success also depends upon our
ability to attract, assimilate and retain highly qualified technical and other
management personnel. There can be no assurance that we will continue to
attract, assimilate and retain key personnel, and the failure to do so will
have a material adverse effect on our business, operating results and financial
condition.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">You may experience dilution of your
ownership interests due to the future issuance of additional shares of our
common stock.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may in the future issue our previously authorized and unissued
securities which will result in the dilution of the ownership interests of our
present stockholders. We are currently authorized to issue 150,000,000 shares
of common stock and 376,287 shares of preferred stock with such designations,
preferences and rights as determined by our board of directors. At September 26,
2005, we had issued 75,159,544 shares of common stock, and outstanding options
and warrants to purchase an additional 7,034,595 shares of our common stock.&#160; In addition, 16,185,260 shares of our common
stock are issuable upon conversion of our senior convertible notes due 2012. We
also have additional shares available for grant under our 2004 Incentive Plan.
Additional incentive plans or amendments to existing incentive plans for
employees may be adopted in the future. Issuance of these shares of common
stock may substantially dilute the ownership interests of our existing
stockholders. The potential issuance of such additional shares of common stock may
create downward pressure on the trading price of our common stock.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may also issue additional shares of our stock in connection with the
hiring of personnel, future acquisitions, future private placements of our
securities for capital raising purposes, or for other business purposes. This
would further dilute the interests of our existing stockholders.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">We do not intend to pay dividends in
the foreseeable future.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have never declared or paid a dividend on our common stock. We
intend to retain earnings, if any, for use in the operation and expansion of
our business and therefore do not anticipate declaring or paying any dividends
in the foreseeable future.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The trading price of our common stock
may be volatile.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The trading price of our shares has from time to time fluctuated
significantly and in the future may be subject to similar fluctuations. The
trading price may be affected by a number of factors, including the risk
factors set forth herein, as well as our operating results, financial
condition, announcements or drilling activities, general conditions in the oil
and gas exploration and development industry, and other events or factors. In
recent years, broad stock market indices, in general, and smaller
capitalization companies, in particular, have experienced substantial price
fluctuations. In a volatile market, we may experience wide fluctuations in the
market price of our common stock.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">There is a limited market for our
common stock.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock is trading on the American Stock Exchange.
Historically, there has not been an active trading market for significant
volumes of our common stock. We are not certain that an active trading market
for significant volumes of our common stock will develop, or if such a market
develops, that it will be sustained.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">If we are unable to fulfill commitments
under any of our licenses, we will lose our interest in such license which will
result in the loss of our entire investment in such license.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our ability to retain licenses in which we obtain an interest will
depend on our ability to fulfill the commitments made with respect to each
license. We cannot assure you that we or the other participants in the projects
will have the financial ability to fund these potential commitments.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our operations are extremely dependent
on other companies and other service providers over which we have no control.</font></b></h2>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">While we employ exploration and development personnel, we may also rely
upon the services of geologists, geophysicists, chemists, engineers and other
scientists to assist in the exploration and analysis of our prospects to
determine a method in which the</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

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</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">prospects may be developed in a cost-effective manner. In addition, we
rely upon the owners and operators of oil rigs and drilling equipment to drill
and develop our prospects to production. Although we have developed
relationships with a number of third party service providers, we cannot assure
that we will be able to continue to rely on such persons. If any of these
relationships with third party service providers are terminated or are
unavailable on terms that are favorable to us, then we will not be able to
execute our business plan.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our debt level could negatively impact
our financial condition, results of operations and business prospects.</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of June 30, 2005, we had outstanding indebtedness of $81.25 million
aggregate principal amount of 6.00% Convertible Senior Notes Due 2012. Our
level of indebtedness could have important consequences on our operations,
including:</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>making it more difficult for us to satisfy
our obligations under the indentures or other debt and increasing the risk that
we may default on our debt obligations;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>requiring us to dedicate a substantial
portion of our cash flow from operating activities to required payments on
debt, thereby reducing the availability of cash flow for working capital,
capital expenditures and other general business activities;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>limiting our ability to obtain additional
financing in the future for working capital, capital expenditures, acquisitions
and other general business activities;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>decreasing our ability to successfully
withstand a downturn in our business or the economy generally; and</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:none;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>placing us at a competitive disadvantage
against other less leveraged competitors.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may be required to repay all or a portion of our debt on an
accelerated basis in certain circumstances. If we fail to comply with the
covenants and other restrictions in the agreements governing our debt, it could
lead to an event of default and the acceleration of our repayment of
outstanding debt. Our ability to comply with these covenants and other
restrictions may be affected by events beyond our control, including prevailing
economic and financial conditions.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may not have sufficient funds to make such repayments. If we are
unable to repay our debt out of cash on hand, we could attempt to refinance
such debt, sell assets or repay such debt with the proceeds from an equity
offering. We cannot assure you that we will be able to generate sufficient cash
flow from operating activities to pay the interest on our debt or that future
borrowings, equity financings or proceeds from the sale of assets will be
available to pay or refinance such debt. Factors that will affect our ability
to raise cash through an offering of our capital stock, a refinancing of our
debt or a sale of assets include financial market conditions and our market
value and operating performance at</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the time of such offering or other financing. We cannot assure you that
any such offering, refinancing or sale of assets can be successfully completed.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="UseOfProceeds_112216"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use of Proceeds</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will not receive any proceeds from the sale of shares of our common
stock by the selling stockholders under this prospectus.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="TheSellingStockholders_124555"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Selling Stockholders</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling stockholders may sell up to 14,072,650 shares of our common
stock pursuant to this prospectus (including up to 2,097,241 shares of our
restricted common stock granted under the Plan, 57,270 shares of common stock
issued to our non-employee directors under the Plan in lieu of compensation for
services as a director, 2,945,000 shares of our common stock underlying stock
options granted under the Plan, 1,466,667 shares of our restricted common stock
issued pursuant to certain non-plan restricted stock award agreements, 400,000
shares of our common stock underlying stock options issued pursuant to a
certain non-plan stock option agreement, and 5,876,859 shares of our common
stock that may subsequently be issued to our affiliates pursuant to future
grants under the Plan).&#160; The following
table sets forth certain information known to us concerning each of the selling
stockholders.&#160; The shares are being
registered to permit the selling stockholders to offer the shares for resale
from time to time.&#160; See &#147;Plan of
Distribution.&#148;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="47%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Shares of<br>
  Common<br>
  Stock<br>
  Beneficially<br>
  Owned<br>
  Before<br>
  Offering (1)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number of<br>
  Shares of<br>
  Common<br>
  Stock<br>
  Offered<br>
  Hereby (1)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Shares of<br>
  Common<br>
  Stock<br>
  Beneficially<br>
  Owned<br>
  Follow<br>
  Offering (2)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage<br>
  of Shares of<br>
  Common<br>
  Stock<br>
  Owned<br>
  After<br>
  Offering (2)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William L.
  Transier (3)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,410,915</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,233,832</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,593,750</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.4</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John N.
  Seitz (4)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,486,083</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,309,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,593,750</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.4</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bruce H.
  Stover (5)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,040,679</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,407,346</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">250,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael D.
  Cochran (6)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">886,833</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">878,500</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">250,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ronald A.
  Bain (7)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">687,483</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">282,816</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">404,667</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">H. Don
  Teague (8)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">573,400</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">815,067</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert K.
  Reeves (9)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">118,750</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18,750</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John B.
  Connally III (10)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">317,537</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140,870</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">250,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Andrew
  Cochran (11)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">150,167</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">97,667</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52,500</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert L.
  Thompson (12)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">207,922</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">324,589</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barry J.
  Galt (13)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">132,197</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">135,530</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nancy K.
  Quinn (14)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100,037</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140,870</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,500</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fiona
  Goodfellow (15)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">98,417</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38,250</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60,167</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael
  Neese (16)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">81,989</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28,614</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53,375</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Catherine L.
  Stubbs (17)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57,570</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27,327</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30,243</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S. Lynn
  Willis (18)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53,852</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21,327</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32,525</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Janice White
  (19)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">72,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debra
  Bearden (20)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17,154</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,821</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,333</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aimee
  Stadtfeld (21)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,282</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,615</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,667</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lance
  Gilliland (22)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">439,841</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">800,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39,841</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="right" style="color:windowtext;margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="left">

</font></div>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Less
than 1%, based on 75,159,544 shares outstanding on September 20, 2005.</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='14',FILE='C:\JMS\spalmer\05-16923-1\task595362\16923-1-ba-03.htm',USER='spalmera',CD='Sep 29 15:51 2005' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ownership
is determined as of September 20, 2005 and in accordance with Rule 13d-3 under
the Securities Exchange Act of 1934. The actual number of shares beneficially
owned and offered for sale is subject to adjustment and could be materially
less or more than the estimated amount indicated depending upon factors, which
we cannot predict at this time.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Assumes
all the shares offered hereby are sold to persons who are not affiliates of the
selling stockholders and the selling stockholders sell no other shares they
beneficially own.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Transier is the Co-Chief Executive Officer of the Company.&#160; Mr. Transier is the trustee of the Lighthouse
Bypass Trust but has no economic interest in 12,500 shares owned by the
Lighthouse Bypass Trust and disclaims beneficial ownership of such shares.&#160; The shares offered by Mr. Transier include
166,667 shares of restricted common stock that vest one-half on each of January
1, 2006 and January 1, 2007, and 166,667 shares of common stock underlying
stock options that vest one-half on each of January 1, 2006 and January 1, 2007,
250,000 shares of restricted common stock that vest one-third on each of
January 1, 2006, January 1, 2007 and January 1, 2008, 59,000 shares of
restricted common stock that vest on January 1, 2006, 250,000 shares of common
stock underlying stock options that vest one-third on each of January 1, 2006,
January 1, 2007 and January 1, 2008 and 83,333 shares of common stock
underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Seitz is the Co-Chief Executive Officer of the Company.&#160; The shares offered by Mr. Seitz include
166,667 shares of restricted common stock that vest one-half on each of January
1, 2006 and January 1, 2007, and 166,667 shares of common stock underlying
stock options that vest one-half on each of January 1, 2006 and January 1, 2007,
250,000 shares of restricted common stock that vest one-third on each of
January 1, 2006, January 1,2007 and January 1, 2008, 59,000 shares of
restricted common stock that vest on January 1, 2006 , 250,000 shares of common
stock underlying stock options that vest one-third on each of January 1, 2006,
January 1,2007 and January 1, 2008 and 83,333 shares of common stock underlying
fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Stover is the Executive Vice President Operations and Business Development of
the Company.&#160; The shares offered by Mr.
Stover include 333,333 shares of restricted common stock that vest one-half on
each of January 1, 2006 and January 1, 2007, and 266,667 shares of common stock
underlying stock options that vest one-half on each of January 1, 2006 and
January 1, 2007, 100,000 shares of restricted common stock that vest one-third
on each of January 1, 2006, January 1, 2007 and January 1, 2008, 41,000 shares
of restricted common stock that vest on January 1, 2006, 100,000 shares of
common stock underlying stock options that vest one-third on each of January 1,
2006, January 1, 2007 and January 1, 2008 and 133,333 shares of common stock
underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Michael
D. Cochran is Executive Vice President Exploration of the Company.&#160; The shares offered by Michael D. Cochran
include 233,333 shares of restricted</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">common stock that vest one-half on each of January 1, 2006 and January
1, 2007, and 166,667 shares of common stock underlying stock options that vest
one-half on each of January 1, 2006 and January 1, 2007, 75,000 shares of
restricted common stock that vest one-third on each of January 1, 2006, January
1, 2007 and January 1, 2008, 41,000 shares of restricted common stock that vest
on January 1, 2006, 75,000 shares of common stock underlying stock options that
vest one-third on each of January 1, 2006, January 1, 2007 and January 1, 2008
and 83,333 shares of common stock underlying fully-vested stock options.&#160; Also includes 250,000 shares owned of record
by 1600 Group, LLC, of which Mr. Cochran is the manager and has sole voting and
investing power.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Bain is Vice President of Geosciences of the Company.&#160; The shares offered by Mr. Bain include 133,333
shares of restricted common stock that vest one-half on each of January 1, 2006,
January 1, 2007, and 166,667 shares of common stock underlying stock options
that vest one-half on each of January 1, 2006 and January 1, 2007 and 66,667
shares of common stock underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Teague is Executive Vice President, Administration, General Counsel and
Secretary of the Company.&#160; The shares
offered by Mr. Teague include 166,667 shares of restricted common stock that
vest one-half on each of January 1, 2006 and January 1, 2007, and 166,667
shares of common stock underlying stock options that vest one-half on each of
January 1, 2006 and January 1, 2007, 75,000 shares of restricted common stock
that vest one-third on each of January 1, 2006, January 1, 2007 and January 1,
2008, 35,000 shares of restricted common stock that vest on January 1, 2006,
100,000 shares of restricted common stock that vest on August 25, 2008, 50,000
shares of common stock underlying stock options that vest one-third on each of
January 1, 2006, January 1, 2007 and January 1, 2008 and 83,333 shares of
common stock underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Reeves was Executive Vice President, Administration, General Counsel and
Secretary of the Company until March 2004.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(10)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Connally is a director of the Company.&#160;
The shares offered by Mr. Connally include 13,333 shares of restricted
common stock that vest one-half on each of January 1, 2006 and January 1, 2007,
13,333 shares of common stock underlying stock options that vest one-half on
each of January 1, 2006 and January 1, 2007 and 6,667 shares of common stock
underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Andrew
Cochran was Manager Exploration New Ventures of the Company until March 2005.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(12)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Thompson is Vice President, Chief Accounting Officer of the Company.&#160; The shares offered by Mr. Thompson include 66,667
shares of restricted common stock that vest one-half on each of January 1, 2006
and January 1, 2007, 66,667 shares of common stock underlying stock options
that vest one-half on each of January 1, 2006 and January 1, 2007, 25,000
shares of restricted common stock that vest one-third on each of January 1,
2006, January 1, 2007 and January 1, 2008, 24,000 shares of restricted common
stock that vest on January 1, 2006, 50,000 shares of common stock underlying
stock options that vest one-third on</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">each of January 1, 2006, January 1, 2007 and January 1, 2008 and 33,333
shares of common stock underlying fully-vested stock options.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(13)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Galt is a director of the Company.&#160; The
shares offered by Mr. Galt include 13,333 shares of restricted common stock
that vest one-half on each of January 1, 2006 and January 1, 2007, 13,333
shares of common stock underlying stock options that vest one-half on each of
January 1, 2006 and January 1, 2007 and 6,667 shares of common stock underlying
fully-vested stock options .</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
Quinn is a director of the Company.&#160; The
shares offered by Ms. Quinn include 13,333 shares of restricted common stock
that vest one-half on each of January 1, 2006 and January 1, 2007, 13,333
shares of common stock underlying stock options that vest one-half on each of
January 1, 2006 and January 1, 2007 and 6,667 shares of common stock underlying
fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(15)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
Goodfellow is Senior Geophysicist of the Company.&#160; The shares offered by Ms. Goodfellow include
and 4,167 shares of restricted common stock that vest one-half on each of January
1, 2006 and January 1, 2007 and 2,083 shares of common stock underlying fully-vested
stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(16)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Neese is Senior Geophysicist of the Company.&#160;
The shares offered by Mr. Neese include 16,667 shares of restricted
common stock that vest one-half on each of January 1, 2006 and January 1, 2007
and 3,375 shares of common stock underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(17)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
Stubbs is Director of Financial Control and Assistant Secretary of the
Company.&#160; The shares offered by Ms.
Stubbs include 16,667 shares of restricted common stock that vest one-half on
each of January 1, 2006 and January 1, 2007 and 8,333 shares of common stock
underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(18)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
Willis is Director, Accounting &amp; Financial Analysis of the Company.&#160; The shares offered by Ms. Willis include 10,000
shares of restricted common stock that vest one-half on each of January 1, 2006
and January 1, 2007 and 5,000 shares of common stock underlying fully-vested stock
options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(19)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
White is Vice President, Corporate Services of the Company.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(20)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
Bearden is Executive Assistant of the Company.&#160;
The shares offered by Ms. Bearden consist of 6,667 shares of restricted
common stock that vest one-half on each of January 1, 2006 and January 1, 2007
and 3,333 shares of common stock underlying fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(21)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.
Stadtfeld is Executive Assistant of the Company.&#160; The shares offered by Ms. Stadtfeld consist
of 5,000 shares of restricted common stock that vest one-half on each of
January 1, 2006 and January 1, 2007 and 1,667 shares of common stock underlying
fully-vested stock options.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(22)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.
Gilliland is Executive Vice President and Chief Financial Officer of the
Company.&#160; The shares offered by Mr.
Gilliland consist of 400,000 shares of restricted common stock that vest
one-third on each of August 25, 2006, August 25, 2007 and August 25, 2008,
39,841 shares of restricted common stock that vest</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">on September 15, 2006, and 400,000 shares of common stock underlying
stock options that vest one-third on each of August 25, 2006, August 25, 2007
and August 25, 2008.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as indicated above, no selling stockholder has within the past
three years had any position, office or other material relationship with the
Company or any of its predecessors or affiliates.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="PlanOfDistribution_124609"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Plan of Distribution</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will not receive any of the proceeds from the sale of the common
stock by the selling stockholders pursuant to this prospectus. The aggregate
proceeds to the selling stockholders from the sale of the common stock will be
the purchase price of the common stock less any discounts and commissions. A
selling stockholder reserves the right to accept and, together with its agents,
to reject, any proposed purchased of common stock to be made directly or
through agents.&#160; This prospectus covers the resale of shares of our common stock by the
selling stockholders.&#160; As used in this
prospectus, &#147;selling stockholders&#148; includes holders of shares of our common
stock received from a selling stockholder after the date of this prospectus and
who received such shares by gift or by other transfer by such selling
stockholder to an immediate family member of such stockholder, by will or
through operation of the laws of descent and distribution, and their respective
administrators, guardians, receivers, executors or other persons acting in a
similar capacity.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The common stock may be sold from time to time to purchasers:</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>directly by the
selling stockholders and their successors, which includes their transferees,
pledgees or donees or their successors; or</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>through
underwriters, broker-dealers or agents who may receive compensation in the form
of discounts, concessions or commissions from the selling stockholders or the
purchasers of the common stock. These discounts, concessions or commissions may
be in excess of those customary in the types of transactions involved.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling stockholders and any underwriters, broker-dealers or agents
who participate in the distribution of the common stock may be deemed to be &#147;underwriters&#148;
within the meaning of the Securities Act of 1933. As a result, any profits on
the sale of the common stock by selling stockholders and any discounts,
commissions or concessions received by any such broker-dealers or agents may be
deemed to be underwriting discounts, and &#147;underwriters&#148; within the meaning of
the Securities Act of 1933 will be subject to prospectus delivery requirements
of the Securities Act of 1933. If the selling stockholders are deemed to be
underwriters, the selling stockholders may be subject to certain statutory
liabilities, including, without limitation, liabilities under Sections 11, 12
and 17 of the Securities Act of 1933 and Rule 10b-5 under the Securities
Exchange Act of 1934. If the common stock is sold through underwriters,
broker-dealers or agents, the selling stockholders will be responsible for
underwriting discounts or commissions or agent&#146;s commissions.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The common stock may be sold in one or more transactions at:</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>fixed prices;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>prevailing
market prices at the time of sale;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>prices related
to such prevailing market prices;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>varying prices
determined at the time of sale; or</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>negotiated
prices.</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

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<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These sales may be effected in transactions:</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>on any national
securities exchange or quotation service on which the common stock may be
listed or quoted at the time of the sale;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>in the
over-the-counter market;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>otherwise than
on such exchanges or services or in the over-the-counter market;</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>through the
writing and exercise of options, whether such options are listed on an options
exchange or otherwise; or</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160; </font>through the
settlement of short sales.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These transactions may include block transactions or crosses. Crosses
are transactions in which the same broker acts as an agent on both sides of the
trade.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the sales of the common stock or otherwise, the
selling stockholders may enter into hedging transactions with broker-dealers or
other financial institutions. These broker-dealers or other financial
institutions may in turn engage in short sales of the common stock in the
course of hedging their positions. The selling stockholders may also sell the
common stock short and deliver common stock to close out short positions, or
loan or pledge common stock to broker-dealers that in turn may sell the common
stock.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-dealers engaged by the selling stockholders may arrange for
other brokers-dealers to participate in sales.&#160;
Broker-dealers may receive commissions or discounts from the selling
stockholders (or, if any broker-dealer acts as agent for the purchaser of
shares, from the purchaser) in amounts to be negotiated. The selling
stockholders do not expect these commissions and discounts to exceed what is
customary in the types of transactions involved.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling stockholders may from time to time pledge or grant a
security interest in some or all of the shares of common stock owned by them
and, if they default in the performance of their secured obligations, the
pledgees or secured parties may offer and sell the shares of common stock from
time to time under this prospectus, or under an amendment to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act
amending the list of selling stockholders to include the pledgee, transferee or
other successors in interest as selling stockholders under this prospectus.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To our knowledge, there are currently no plans, arrangements or
understandings between any selling stockholders and any underwriter,
broker-dealer or agent regarding the sale of the common stock.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At the time a particular offering is made, if required, a prospectus
supplement will be distributed, which will set forth the names of the selling
stockholders, the aggregate amount and type of securities being offered, the
price at which the securities are being sold and other material terms of the
offering, including the name or names of any underwriters, broker-dealers or
agents, any discounts, commissions and other terms</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

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<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">constituting compensation from the selling stockholders and any
discounts, commissions or concessions allowed or reallowed to paid
broker-dealers.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We cannot be certain that any selling stockholder will sell any or all
of the common stock pursuant to this prospectus. Further, we cannot assure you
that any such selling stockholder will not transfer, devise or gift the common
stock by other means not described in this prospectus. In addition, any common
stock covered by this prospectus that qualifies for sale pursuant to Rule 144
of the Securities Act of 1933 may be sold under Rule 144 rather than under this
prospectus. The common stock may be sold in some states only through registered
or licensed brokers or dealers. In addition, in some states the common stock
may not be sold unless it has been registered or qualified for sale or an
exemption from registration or qualification is available and complied with.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling stockholders and any other person participating in the sale
of the common stock will be subject to the Securities Exchange Act of 1934. The
Securities Exchange Act of 1934 rules include, without limitation, Regulation
M, which may limit the timing of purchases and sales of any of the common stock
by the selling stockholders and any other such person. In addition, Regulation
M may restrict the ability of any person engaged in the distribution of the
common stock and the ability of any person or entity to engage in market-making
activities with respect to the common stock.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have agreed to indemnify the selling stockholders against certain
liabilities, including liabilities under the Securities Act of 1933.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have agreed to pay substantially all expenses incidental to the registration,
offering and sale of the common stock to the public, other than commissions,
fees and discounts of underwriters, brokers, dealers and agents.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="LegalMatters_124613"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Legal Matters</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain legal matters in connection with the common stock offered
hereby will be passed on for us by Porter &amp; Hedges, L.L.P., Houston,
Texas.&#160; Any underwriters will be advised
about other issues relating to by offering by their own legal counsel.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><a name="Experts_124616"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Experts</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The consolidated financial statements of Endeavour International
Corporation as of December 31, 2003, and for each of the years in the two-year
period ended December 31, 2003, have been audited by L J Soldinger Associates
LLC, independent registered public accountants, as stated in their report. We
have incorporated these financial statements in this registration statement in
reliance upon L J Soldinger Associates, LLC report, given their authority as
experts in accounting and auditing.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The consolidated financial statements of Endeavour International
Corporation as of December 31, 2004, and for the year ended December 31, 2004,
and management&#146;s</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">assessment of the effectiveness of internal control over financial
reporting as of December 31, 2004 have been incorporated by reference herein
and in the registration statement in reliance upon the reports of KPMG LLP,
independent registered public accounting firm, appearing elsewhere
(incorporated by reference) herein, and upon the authority of said firm as
experts in accounting and auditing. The audit report on management&#146;s assessment
of the effectiveness of internal control over financial reporting and the
effectiveness of internal control over financial reporting as of December 31,
2004, contains an explanatory paragraph that states Endeavour International
Corporation acquired OER oil AS on November 23, 2004, and management excluded
from its assessment of the effectiveness of Endeavour International Corporation&#146;s
internal control over financial reporting as of December 31, 2004, OER oil AS&#146;s
internal control over financial reporting associated with total assets of $63.3
million and total revenues of $3.7 million included in the consolidated
financial statements of Endeavour International Corporation and subsidiaries as
of and for the year ended December 31, 2004. The audit of internal control over
financial reporting of Endeavour International Corporation also excluded an
evaluation of the internal control over financial reporting of OER oil AS.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Part II</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information Required in the Registration Statement</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 3.&#160;
Incorporation of Documents by Reference</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following documents, which have been previously filed by us with
the Securities and Exchange Commission under the Securities Exchange Act of 1934,
are incorporated herein by reference:</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font>Our
annual report on Form 10-K, as amended, for the year ended December 31, 2004
(File No. 001-32212).</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font>Our
quarterly reports on Form 10-Q for the quarters ended March 31, 2005 (File No.
001-32212) and June 30, 2005 (File No. 001-32212).</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font>Our
current reports on Form 8-K filed on January 5, 2005, January 11, 2005 (two
reports of the same date), January 14, 2005, January 24, 2005, January 26,
2005, as amended by Form 8-K/A on February 4, 2005, February 2, 2005, February
22, 2005, February 25, 2005, March 2, 2005, March 9, 2005, April 27, 2005, May
6, 2005, July 15, 2005, August 5, 2005, August 25, 2005, September 1, 2005,
September 6, 2005, September 13, 2005 (two reports of the same date) and
September 19, 2005 (File No. 001-32212) (excluding any information furnished
pursuant to Item 2.02 or Item 7.01 of any such current report on Form 8-K).</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font>The
description of our common stock contained in our registration statement on Form
8-A filed on June 10, 2004, as amended by our amended registration statement on
Form 8-A/A-1 filed on August 11, 2004 (File No. 001-32212), and including any
other amendments or reports filed for the purpose of updating such description.</p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All documents filed by us with the Securities and Exchange Commission
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934 (excluding any information furnished pursuant to Item 2.02 or Item 7.01
of any such current report on Form 8-K) subsequent to the filing date of this
registration statement and prior to the filing of a post-effective amendment to
this registration statement which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference into this registration statement and to
be a part hereof from the date of filing of each such document.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 4.&#160;
Description of Securities</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 5.&#160;
Interests of Named Experts and Counsel</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 6.&#160;
Indemnification of Directors and Officers</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company&#146;s Amended and Restated Articles of Incorporation provide
that no officer or director of the Company will be personally liable to the
Company or its stockholders for damages for breach of fiduciary duty as a
director or officer, other than (1) for acts or omissions that involve
intentional misconduct, fraud or knowing violations of law or (2) the unlawful
payment of a distribution.&#160; In addition,
the Company&#146;s Amended and Restated Articles of Incorporation and Amended and
Restated Bylaws provide that the Company will indemnify the Company&#146;s officers
and directors and advance related costs and expenses incurred by our officers
and directors to the fullest extent permitted by Nevada law.&#160; In addition, the Company may also enter into
agreements with any officer or director and may obtain insurance indemnifying
officers and directors against certain liabilities incurred by them.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nevada Revised Statutes (&#147;NRS&#148;) Section 78.138 provides that a director
or officer will not be individually liable unless it is proven that (i) the
director&#146;s or officer&#146;s acts or omissions constituted a breach of his or her
fiduciary duties, and (ii) such breach involved intentional misconduct, fraud
or a knowing violation of the law.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NRS Section 78.7502 permits a corporation to indemnify its directors
and officers against expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred in connection with a threatened, pending or
completed action, suit or proceeding if the officer or director (i) is not
liable pursuant to NRS 78.138 or (ii) acted in good faith and in a manner the
officer or director reasonably believed to be in or not opposed to the best
interests of the corporation and, if a criminal action or proceeding, had no
reasonable cause to believe the conduct of the officer or director was
unlawful.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NRS Section 78.751 permits a Nevada corporation to indemnify its
officers and directors against expenses incurred by them in defending a civil
or criminal action, suit or proceeding as they are incurred and in advance of
final disposition thereof, upon receipt of an undertaking by or on behalf of
the officer or director to repay the amount if it is ultimately determined by a
court of competent jurisdiction that such officer or director is not entitled
to be indemnified by the corporation.&#160;
NRS 78.751 further permits the corporation to grant its directors and
officers additional rights of indemnification under its articles of
incorporation or bylaws or otherwise.&#160;
NRS 78.752 provides that a Nevada corporation may purchase and maintain
insurance or make other financial arrangements on behalf of any person who is
or was a director, officer, employee or agent of the corporation, or is or was
serving at the request of the corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise, for any liability asserted against him and liability and expenses incurred
by him in his capacity as a director, officer, employee or agent, or arising
out of his status as such, whether or not the corporation has the authority to
indemnify him against such liability and expenses.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 7.&#160;
Exemption From Registration Claimed</font></b></h1>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Of the shares registered by this registration statement, 2,731,250
shares of our restricted common stock and options to purchase 400,000 shares of
our common stock were issued to certain directors, officers, employees and
consultants of the Company as inducement or incentive awards.&#160; Additionally, 57,270 shares of our common
stock were issued to our non-employee directors in lieu of compensation for
services as directors.&#160; These grants were
exempt from registration pursuant to Section 4(2) of the Securities Act of
1933.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 8.&#160;
Exhibits</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="12%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit Number</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:84.88%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description
  of Exhibit</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Endeavour International Corporation 2004 Incentive Plan (incorporated
  by reference to Annex B to the Company&#146;s definitive proxy statement filed
  July 18, 2005, File No. 001-32212).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Restricted Stock Award Agreement (incorporated by reference
  to Exhibit 10.39 to the Company&#146;s Form 10-KSB filed March 30, 2004, File No.
  000-33439).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restricted Stock Award Agreement dated effective August 26, 2005,
  between Endeavour International Corporation and Lance Gilliland (incorporated
  by reference to Exhibit 10.1 to the Company&#146;s Form 8-K filed September 19,
  2005, File No. 000-33439).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock Option Agreement dated effective August 26, 2005, between
  Endeavour International Corporation and Lance Gilliland (incorporated by
  reference to Exhibit 10.2 to the Company&#146;s Form 8-K filed September 19, 2005,
  File No. 000-33439).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Porter &amp; Hedges, L.L.P. with respect to legality of
  the securities, including consent.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of L J Soldinger and Associates LLC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of KPMG LLP.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.3 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Gaffney, Cline &amp; Associates Ltd.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Porter &amp; Hedges, L.L.P. (included in Exhibit 5.1).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (contained in signature page).</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="left">

</font></div>

<p style="color:windowtext;margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(*)&#160;
Filed herewith.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 9.&#160;
Undertakings.</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
undersigned registrant hereby undertakes:</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
include any prospectus required by Section 10(a)(3) of the Securities Act of
1933.</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the
maximum aggregate offering price set forth in the &#147;Calculation of Registration
Fee&#148; table in the effective registration statement.</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement.</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.0in;"><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;"><b><i><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-style:italic;font-weight:normal;">provided</font></i></b></font><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;"><b><font color="black" style="color:windowtext;font-weight:normal;">, <i><font style="font-style:italic;">however</font></i>,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the
registrant pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in the registration statement.</font></b></font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>That,
for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.</p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.</p>

<p style="color:windowtext;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s
annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act
of 1934 (and, where applicable, each filing of an employee benefit plan&#146;s
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934)
that is incorporated by reference in the registration statement shall be deemed
to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised</p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication
of such issue.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signatures</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Houston, State of Texas, on the 29th day of
September, 2005.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Endeavour International Corporation</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.34%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert L. Thompson</font></p>
  </td>
  <td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.34%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert L. Thompson</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.34%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, Chief Accounting Officer</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 align="center" style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney and Signatures</font></b></h2>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Know all men by these presents, that each person whose signature
appears below, constitutes and appoints William L. Transier, John N. Seitz,
Lance Gilliland and Robert&nbsp;L. Thompson, and each of them, our true and
lawful attorneys-in-fact and agents, with power to act with or without the
others and with full power of substitution and resubstitution, to do any and
all acts and things and execute, in the name of the undersigned, any and all
instruments which said attorney-in-fact and agents may deem necessary or
advisable in order to enable Endeavour International Corporation to comply with
the Securities Act of 1933 and any requirements of the Securities and Exchange
Commission in respect thereof, in connection with the filing with the
Securities and Exchange Commission of the registration statement on Form S-8
under the Securities Act of 1933, including specifically but without
limitation, power and authority to sign the name of the undersigned to such
registration statement, and any amendments to such registration statement
(including post-effective amendments and additional registration statements
filed pursuant to Rule 462 of the Securities Act of 1933), and to file the same
with all exhibits thereto and other documents in connection therewith, with the
Securities and Exchange Commission, to sign any and all applications,
registration statements, notices or other documents necessary or advisable to
comply with applicable state securities laws, and to file the same, together with
other documents in connection therewith with the appropriate state securities
authorities, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and to perform each and every act and thing
requisite or necessary to be done in and about the premises, as fully and to
all intents and purposes as the undersigned might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, and any of
them, or their substitutes, may lawfully do or cause to be done by virtue
hereof.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='28',FILE='C:\JMS\spalmer\05-16923-1\task595362\16923-1-ba-03.htm',USER='spalmera',CD='Sep 29 15:51 2005' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Signature</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.88%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Title</font></b></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="20%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:20.42%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Date</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.88%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="20%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:20.42%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ John N. Seitz</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Co-Chief Executive Officer</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;John N. Seitz</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and Director (Principal<br>
  Executive Officer)</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ William L. Transier</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Co-Chief Executive Officer</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;William L. Transier</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and Director (Principal<br>
  Executive Officer)</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Lance Gilliland</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Vice President</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Lance Gilliland</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and Chief Financial Officer<br>
  (Principal Financial Officer)</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Robert L. Thompson</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, Chief</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Robert L. Thompson</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounting Officer<br>
  (Principal Accounting<br>
  Officer)</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ John B. Connally III</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;John B. Connally III</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Barry J. Galt</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Barry J. Galt</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Nancy K. Quinn</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 29, 2005</font></p>
  </td>
 </tr>
 <tr>
  <td width="27%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:27.8%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Nancy K. Quinn</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.66%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.42%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit Index</font></b></h1>

<h1 style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="12%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit Number</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="84%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:84.88%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description
  of Exhibit</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Endeavour International Corporation 2004 Incentive Plan (incorporated
  by reference to Annex B to the Company&#146;s definitive proxy statement filed
  July&nbsp;18, 2005, File No. 001-32212).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Restricted Stock Award Agreement (incorporated by reference
  to Exhibit 10.39 to the Company&#146;s Form 10-KSB filed March 30, 2004, File No.
  000-33439).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restricted Stock Award Agreement dated effective August 26, 2005,
  between Endeavour International Corporation and Lance Gilliland (incorporated
  by reference to Exhibit 10.1 to the Company&#146;s Form 8-K filed September 19,
  2005, File No. 000-33439).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock Option Agreement dated effective August 26, 2005, between
  Endeavour International Corporation and Lance Gilliland (incorporated by
  reference to Exhibit 10.2 to the Company&#146;s Form 8-K filed September 19, 2005,
  File No. 000-33439).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Porter &amp; Hedges, L.L.P. with respect to legality of
  the securities, including consent.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of L J Soldinger and Associates LLC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of KPMG LLP.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.3 (*)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Gaffney, Cline &amp; Associates Ltd.</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Porter &amp; Hedges, L.L.P. (included in Exhibit 5.1).</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.88%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (contained in signature page).</font></p>
  </td>
 </tr>
</table>

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<p style="color:windowtext;margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(*)&#160;
Filed herewith.</font></p>

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[{"type": "S-8", "sequence": "1", "filename": "a05-16923_1s8.htm", "description": "S-8", "secsgml_size_bytes": 306695}]
{"company-data": {"conformed-name": "ENDEAVOUR INTERNATIONAL CORP", "cik": "0001112412", "assigned-sic": "1311", "irs-number": "880448389", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-128692", "film-number": "051112189"}, "business-address": {"street1": "1000 MAIN STREET", "street2": "SUITE 3300", "city": "HOUSTON", "state": "TX", "zip": "77002", "phone": "713-307-8700"}, "mail-address": {"street1": "1000 MAIN STREET", "street2": "SUITE 3300", "city": "HOUSTON", "state": "TX", "zip": "77002"}, "former-company": [{"former-conformed-name": "CONTINENTAL SOUTHERN RESOURCES  INC", "date-changed": "20020816"}, {"former-conformed-name": "EXPRESSIONS GRAPHICS INC", "date-changed": "20000419"}]}
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON SEPTEMBER 29,
2005
Registration No. 333-
United States
Securities and Exchange
Commission
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
Endeavour International Corporation
(Exact Name of Registrant as Specified in Its Charter)
Nevada
88-0448389
(State or Other jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification No.)
1000 Main Street, Suite 3300
Houston, Texas 77002
(Address of Principal Executive Offices)
Endeavour International Corporation 2004 Incentive
Plan
Non-Plan Restricted Stock Award Agreements
Non-Plan Stock Option Agreement
(Full Title of the Plans)
H. Don Teague
Executive Vice President
Endeavour International Corporation
1000 Main Street, Suite 3300
Houston, Texas 77002
(713) 307-8700
(Name, Address, Including Zip Code, and Telephone Number, Including
Area Code, of Agent for Service)
COPIES TO:
Christopher A. Ferazzi
Porter & Hedges, L.L.P.
1000 Main Street, 36th Floor
Houston, Texas 77002-3663
(713) 226-6600
CALCULATION OF REGISTRATION FEE
TITLE
  OF EACH CLASS OF SECURITIES TO
BE REGISTERED
AMOUNT
TO BE
REGISTERED (1)
PROPOSED
MAXIMUM
OFFERING
PRICE PER
SHARE
PROPOSED
MAXIMUM
AGGREGATE
OFFERING PRICE
AMOUNT OF
REGISTRATION
FEE (4)
Common Stock, par value $0.001 per share
6,000,000
$
4.95
(2)
$
29,700,000
(2)
$
3,495.69
Common Stock, par value $0.001 per share
400,000
$
4.95
(2)
$
1,980,000
(2)
$
233.05
Common Stock, par value $0.001 per share
400,000
$
5.02
(3)
$
2,008,000
(3)
$
236.34
Total
6,800,000
N/A
$
33,688,000
$
3,966
(1)  This Registration Statement covers (i)
6,000,0000 shares of common stock, par value $0.001 per share (the "Common
Stock"), of Endeavour International Corporation (the "Registrant") issuable
pursuant to the Endeavour International Corporation 2004 Incentive Plan (the
"Incentive Plan"), (ii) 400,000 shares of Common Stock issued pursuant to the
non-plan restricted stock award agreement dated effective August 26, 2005 (the
"Restricted Stock Award Agreement"), between the Registrant and Lance Gilliland
and (iii) 400,000 shares of Common Stock issuable pursuant to the non-plan
stock option agreement dated effective August 26, 2005 (the "Stock Option
Agreement"), between the Registrant and Lance Gilliland.  Pursuant to Rule 416 under the Securities Act
of 1933, as amended (the "Securities Act"), the number of shares registered
hereby shall also be deemed to include such indeterminate number of additional
shares of common stock that may be issued or have been issued pursuant to the
Incentive Plan, the Restricted Stock Award Agreement and the Stock Option
Agreement to prevent dilution resulting from stock splits, stock dividends or
similar transactions.
(2)  Estimated solely for the purpose of
calculating the amount of the registration fee in accordance with Rule 457(c)
and (h) under the Securities Act based on $4.95, the average of the high and
low sale prices for the common stock on the American Stock Exchange on
September 26, 2005.
(3)  These shares represent shares of Common Stock
issuable pursuant to the Stock Option Agreement and, pursuant to
Rule 457(h), the proposed maximum offering price and the proposed maximum
aggregate offering price are estimated on the basis of the per share exercise
price of the options issued pursuant to the Stock Option Agreement solely for
purposes of calculating the registration fee.
(4)  Pursuant to Rule 429 under the Securities
Act, this Registration Statement includes up to (i) 6,200,000 shares of Common
Stock issued or issuable pursuant to the Incentive Plan and (ii) 2,331,250
shares of Common Stock issued pursuant to certain non-plan restricted stock
award agreements, all of which shares of Common Stock were previously
registered on Form S-8, Registration No. 333-119577.  In connection with the previously registered
shares of Common Stock issued or issuable pursuant to the Incentive Plan and
certain non-plan restricted stock award agreements, the Registrant paid a
registration fee of $3,296.  In
connection with this Registration Statement, the Registrant is paying a
registration fee solely on the 6,800,000 additional shares of the Common Stock
being registered.
As
permitted by Rule 429 under the Securities Act, the prospectus filed as a part
of this Registration Statement on Form S-8 is a combined resale prospectus,
which shall be deemed a post-effective amendment to the Registrant's
Registration Statement on Form S-8, Registration No.  333-119577.
EXPLANATORY NOTE
The
6,800,000 shares of common stock, par value $0.001 per share (the "Common Stock"),
of Endeavour International Corporation, a Nevada corporation (the "Company"),
being registered pursuant to this Form S-8 are comprised of (i) 6,000,0000
shares of Common Stock issuable pursuant to the Endeavour International
Corporation 2004 Incentive Plan (the "Incentive Plan"), (ii) 400,000 shares of
Common Stock issued pursuant to the non-plan restricted stock award agreement
dated effective August 26, 2005 (the "Restricted Stock Award Agreement"),
between the Company and Lance Gilliland and (iii) 400,000 shares of Common
Stock issuable pursuant to the non-plan stock option agreement dated effective August 26,
2005 (the "Stock Option Agreement"), between the Company and Lance
Gilliland.  This Registration Statement
also includes up to (i) 6,200,000 shares of Common Stock issued or
issuable pursuant to the Incentive Plan and (ii) 2,331,250 shares of Common
Stock issued pursuant to certain non-plan restricted stock award agreements,
which shares of Common Stock were previously registered on Form S-8,
Registration No. 333-119577 (the "Prior Registration Statement").  Pursuant to General Instruction E to Form
S-8, this Registration Statement incorporates by reference the contents of the
Prior Registration Statement, except as otherwise set forth herein.
This
Registration Statement contains two parts. The first part contains a reoffer
prospectus pursuant to Form S-3 (in accordance with Section C of the General
Instructions to the Form S-8), which covers reoffers and resales of "restricted
securities" and/or "control securities" (as such terms are defined in Section C
of the General Instructions to Form S-8) of the Company.  This reoffer prospectus relates to up to
14,072,650
shares of Common Stock (including
up to (i) 7,272,650 shares of Common Stock previously registered under the
Prior Registration Statement, (ii) 6,000,0000 shares of Common Stock issuable
pursuant to the Incentive Plan, (iii) 400,000 shares of Common Stock
issued pursuant to the Restricted Stock Award Agreement and (iv) 400,000 shares
of Common Stock issuable pursuant to the Stock Option Agreement).  The second part of this Registration
Statement contains Information Required in the Registration Statement pursuant
to Part II of Form S-8.  The Form S-8
portion of this Registration Statement will be used for offers of shares of
Common Stock of the Company pursuant to the Incentive Plan.
This
prospectus is not an offer to sell these securities and it is not soliciting an
offer to buy these securities in any state where the offer or sale is not
permitted.
PROSPECTUS
14,072,650 SHARES OF COMMON STOCK
ENDEAVOUR INTERNATIONAL CORPORATION
This prospectus relates to the offer and sale from time to time of up
to 14,072,650 shares (the "Shares") of our common stock by the selling
stockholders named in this prospectus. 
The Shares include 2,097,241 shares of our restricted common stock
granted under the Endeavour International Corporation 2004 Incentive Plan (the "Plan"),
57,270 shares of common stock issued to our non-employee directors under the
Plan in lieu of compensation for services as a director, 2,945,000 shares of
our common stock underlying stock options granted under the Plan, 1,466,667
shares of our restricted common stock issued pursuant to certain non-plan
restricted stock award agreements, 400,000 shares of our common stock
underlying stock options issued pursuant to a certain non-plan stock option
agreement, and 5,876,859 shares of our common stock that may subsequently be
issued to our affiliates pursuant to future grants under the Plan.  The selling stockholders may offer the shares
from time to time through public or private transactions at prevailing market
prices, at prices related to prevailing market prices or at other negotiated
prices.  A selling stockholder may sell
none, some or all of the shares offered by this prospectus.  We cannot predict when or in what amounts a
selling stockholder may sell any of the shares offered by this prospectus.  We will not receive any of the proceeds from
the sale of shares by the selling stockholders.
Our common stock is traded on the American Stock Exchange under the
symbol "END."  On September 28, 2005, the
closing price for our common stock was $4.96.
INVESTING IN OUR COMMON STOCK INVOLVES SIGNIFICANT RISKS THAT ARE
DESCRIBED IN THE "RISK FACTORS" SECTION BEGINNING ON PAGE 4 OF THIS PROSPECTUS.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF
THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. 
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus is September 29, 2005.
Table of Contents
Our Company
Preliminary
  Note and Cautionary Statement Regarding Forward-Looking Statements
Where You
  Can Find More Information
Incorporation
  of Certain Documents by Reference
Risk Factors
Use of Proceeds
The Selling Stockholders
Plan of Distribution
Legal Matters
Experts
Our
Company
We are an international oil and gas exploration and production company
primarily focused on the acquisition, exploration and development of oil and
gas reserves in the North Sea.
We were incorporated as a Nevada corporation on January 13, 2000.  Our common stock is quoted on the American
Stock Exchange and began trading in June 2004 under the symbol "END."  Previously, our common stock traded under the
symbol "EVOR" on the NASDAQ Over-the-Counter Bulletin Board.  Our headquarters and principal executive
offices are located at 1000 Main Street, Suite 3300, Houston, Texas 77002. Our
telephone number is (713) 307-8700. The address of our website is
www.endeavourcorp.com. The information on, or linked to or from, our website is
not part of this prospectus.
As used in this prospectus, unless the context otherwise requires,
references to the "Company", "Endeavour", "we", "us" or "our" mean Endeavour
International Corporation, its subsidiaries and its interests in other
entities.
Preliminary Note and Cautionary Statement Regarding
Forward-Looking Statements
You should rely only on the information contained in this
prospectus.  We have not authorized
anyone to provide you with information that is different.  The selling stockholders are offering to sell
and seeking offers to buy shares of our common stock only in jurisdictions
where offers and sales are permitted. 
The information contained in this prospectus is accurate only as of the
date of this prospectus, regardless of the time of delivery of this prospectus
or of any sale of our common stock.
This prospectus and our documents filed with the Securities and
Exchange Commission and incorporated by reference in this prospectus include or
may contain certain forward-looking statements. The words "may," "will," "expect,"
"anticipate," "believe," "continue," "estimate," "project," "intend," and
similar expressions used in this prospectus are intended to identify
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. You should
not place undue reliance on these forward-looking statements, which speak only
as of the date made. We undertake no obligation to publicly release the result
of any revision of these forward-looking statements to reflect events or
circumstances after the date they are made or to reflect the occurrence of
unanticipated events. You should also know that such statements are not
guarantees of future performance and are subject to risks, uncertainties and
assumptions. We have included important factors in the cautionary statements
included or incorporated in this prospectus, particularly under the caption "Risk
Factors" below that we believe could cause actual results or events to differ
materially from the forward-looking statements we make.  Our
1
forward-looking statements do not reflect the potential impact of any
future acquisitions, mergers, dispositions, joint venture or investments we may
make.
Where You Can Find More Information
We are subject to the information requirements of the Securities Exchange
Act of 1934, and in accordance therewith file reports, proxy statements and
other information with the Securities and Exchange Commission.  These reports, proxy statements and other
information can be inspected and copied at the Commission's Public Reference
room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549.  The public may obtain information on the
operation of the Public Reference Room by calling the Commission at
1-800-SEC-0330.  In addition, the
Commission maintains an Internet site at www.sec.gov that contains reports,
proxy and information statements, and other information regarding issuers that
file electronically with the Commission. 
Endeavour maintains an Internet site at www.endeavourcorp.com.
We have filed a registration statement with the Commission on Form S-8
(including any amendments thereto, known as the registration statement) under
the Securities Act of 1933 with respect to the shares of common stock offered
by the selling stockholders hereby.  This
prospectus does not contain all of the information set forth in the
registration statement and the exhibits and schedules thereto.  You may refer to the registration statement
and the exhibits and schedules thereto for more information about our common
stock and us.  Statements made in this
prospectus regarding the contents of any contract or document filed as an
exhibit to the registration statement are not necessarily complete and, in each
instance, reference is herby made to the copy of such contract or document so
filed.  Each such statement is qualified
in its entirety by such reference.
Incorporation of Certain Documents by Reference
The following documents, which have been previously filed by us with
the Securities and Exchange Commission under the Securities Exchange Act of
1934, are incorporated herein by reference:
1)
Our annual report on Form 10-K, as
amended, for the year ended December 31, 2004 (File No. 001-32212).
2)
Our quarterly reports on Form 10-Q for
the quarters ended March 31, 2005 (File No. 001-32212) and June 30, 2005 (File
No. 001-32212).
3)
Our current reports on Form 8-K filed on
January 5, 2005, January 11, 2005 (two reports of the same date), January 14,
2005, January 24, 2005, January 26, 2005, as amended by Form 8-K/A on February
4, 2005, February 2, 2005, February 22, 2005, February 25, 2005, March 2, 2005,
March 9, 2005, April 27, 2005, May 6, 2005, July 15, 2005, August 5, 2005,
August 25, 2005, September 1, 2005,
2
September 6, 2005, September 13, 2005 (two reports of the same date)
and September 19, 2005 (File No. 001-32212) (excluding any information
furnished pursuant to Item 2.02 or Item 7.01 of any such current report on Form
8-K).
4)
The description of our common stock
contained in our registration statement on Form 8-A filed on June 10, 2004, as
amended by our amended registration statement on Form 8-A/A-1 filed on August
11, 2004 (File No. 001-32212), and including any other amendments or reports
filed for the purpose of updating such description.
All documents filed by us with the Securities and Exchange Commission
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934 (excluding any information furnished pursuant to Item 2.02 or Item 7.01
of any such current report on Form 8-K) subsequent to the date of this
prospectus and prior to the completion or termination of this offering, shall
be deemed to be incorporated by reference into this prospectus and to be a part
hereof from the date of filing of each such document. Any statement contained
herein, or in a document incorporated or deemed to be incorporated by reference
herein, shall be deemed to be modified or superseded for purposes of this
prospectus to the extent that a statement contained herein or in any
subsequently filed document which also is or is deemed to be incorporated by
reference herein, modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this prospectus.
This prospectus incorporates documents by reference that are not
delivered herewith. Copies of these documents, other than the exhibits thereto
(unless such exhibits are specifically incorporated by reference in such
documents), are available upon written or oral request, at no charge, from us.
Requests for such copies should be directed to H. Don Teague, Executive Vice
President, Administration & General Counsel, at 1000 Main Street, Suite
3300, Houston, Texas 77002, or at (713) 307-8700.
3
Risk Factors
An investment in our common stock involves a high degree of risk.   You should consider carefully the risks and
uncertainties described below and the other information in this prospectus,
including our financial statements and related notes, before deciding to invest
in our common stock.  If any of the
following risks or uncertainties actually occurs, our business, financial
condition and operating results would likely suffer.  In that event, the market price of the
offered securities could decline and you could lose all or part of the money
you paid to buy our common stock.
We have had operating losses to date
and do not expect to be profitable in the foreseeable future.
We have been operating at a loss each year since our inception, and we
expect to continue to incur substantial losses for the foreseeable future. Net
loss applicable to common stockholders for the years ended December 31, 2004,
2003 and 2002 was $23.8 million, $41.2 million and $4.8 million, respectively.
We expect to incur substantial expenditures in connection with our oil and gas
exploration activities. Further, we expect to continue to experience negative
cash flow for the foreseeable future and cannot predict when, or if, we might
become profitable.
If we are unable to generate additional
financing, we will not be able to adequately fund our existing development and
exploration projects, acquire additional oil and gas interests, or maintain our
rights in such projects.
We may not have an adequate amount of financial resources to adequately
fund our development and exploration projects on a long-term basis. In the
past, we have relied on the sale of our debt and equity securities to fund the
acquisition, exploration and development of our petroleum properties. To
continue funding these projects and to have the ability to fund additional
projects, we will need to raise additional capital. We cannot assure you that
additional funding will be available to us for exploration and development of
our projects or to fulfill our obligations under any agreements. We also cannot
assure you that we will be able to generate sufficient operating cash flow or
obtain adequate financing in the future or that the terms of any such financing
will be favorable. Failure to generate such additional operating cash flow or
obtain such additional financing could result in delay, postponement or
cancellation of further exploration and development of our projects or the loss
of our interest in such properties.
4
Acquiring interests in properties for
oil and natural gas exploration is speculative in nature and may not ever
result in operating revenues or profits.
We cannot assure you that we will discover oil and gas in commercial
quantities in our current properties or properties we acquire in the future.
Our success depends upon our ability to acquire working and revenue interests
in properties upon which gas and oil reserves are ultimately discovered. We
expect to ultimately derive the cash flow necessary to fund our operations from
the oil and gas produced from our producing properties and/or the sale of our
properties, but there is no assurance we will be able to do so.
In the event we are unable to identify
additional gas and oil prospects in which we can acquire an interest at an
affordable price, we may not be able to sustain our growth rate and ability to
spread risk.
One element of our business strategy is to continue to grow and spread
risk through selected acquisitions of additional ownership interests in gas and
oil prospects. If we are unable to execute this aspect of our strategy in a
timely manner, we may not be able to manage our risks and our operations may be
adversely affected. Some of the consequences could be:
•
we may not be able to identify additional
desirable gas and oil prospects and acquire leasehold or other ownership
interests in such prospects at a desirable price;
•
any of our completed, currently planned, or
future acquisitions of ownership interests in gas and oil prospects may not
include prospects that contain proven gas or oil reserves;
•
we may not have the ability to develop
prospects which contain proven gas or oil reserves to the point of commercial
production;
•
we may not have the financial ability to
consummate additional acquisitions of ownership interests in gas and oil
prospects or to develop the prospects which we acquire to the point of
production; and
•
we may not be able to consummate such
additional acquisitions on terms favorable to us.
We may not be able to replace
production with new reserves.
In general, the volume of production from oil and gas properties
declines as reserves are depleted. The decline rates depend on reservoir
characteristics. Our reserves will decline as they are produced unless we
acquire properties with proved reserves or conduct successful development and
exploration drilling activities. Our future natural gas and oil
5
production is highly dependent upon our level of success in finding or
acquiring additional reserves.
Our recent growth is due in large part to acquisitions of producing
properties. The successful acquisition of producing properties requires an
assessment of a number of factors, some of which are beyond our control. These
factors include recoverable reserves, future oil and gas prices, operating
costs, and potential environmental and other liabilities, and other factors.
Such assessments are inexact and their accuracy is inherently uncertain. In
connection with such assessments, we perform a review of the subject
properties, which we believe is generally consistent with industry practices.
However, such a review will not reveal all existing or potential problems. In
addition, the review will not permit a buyer to become sufficiently familiar
with the properties to fully assess their deficiencies and capabilities. We
cannot assure you that we will be able to acquire properties at acceptable
prices because the competition for producing oil and gas properties is intense
and many of our competitors have financial and other resources that are
substantially greater than those available to us.
Market fluctuations in the prices of
oil and gas could adversely affect the price at which we can sell gas or oil
discovered on our properties.
Market fluctuations in the prices of oil and gas can adversely affect
the price that we can sell gas and oil discovered on our properties. In recent
decades, there have been periods of both worldwide over-production and
underproduction of hydrocarbons and periods of both increased and relaxed
energy conservation efforts. These conditions have resulted in periods of
excess supply of, and reduced demand for, crude oil on a worldwide basis and
for natural gas on a domestic basis. These periods have historically been
followed by periods of short supply of, and increased demand for, crude oil
and, to a lesser extent, natural gas. The excess or short supply of natural gas
and crude oil has placed pressures on prices and has resulted in dramatic price
fluctuations, even during relatively short periods of seasonal market demand.
We cannot predict with any degree of certainty future oil and natural gas
prices. Changes in oil and natural gas prices significantly affect our
revenues, operating results, profitability and the value of our oil and gas
reserves. Lower prices may reduce the amount of oil and natural gas that we can
produce economically. In an attempt to reduce our price risk, we periodically
enter into hedging transactions with respect to a portion of our expected
future production. We cannot assure you that such transactions will reduce the
risk or minimize the effect of any decline in oil or natural gas prices.
Lower oil and gas prices may cause us
to record ceiling test write-downs.
We use the full cost method of accounting for our oil and gas
operations. Accordingly, we capitalize the cost to acquire, explore for and
develop oil and gas properties. Under full cost accounting rules, the net
capitalized costs of oil and gas properties (net of related deferred taxes),
including estimated capitalized abandonment costs, may not exceed a
6
"ceiling limit" which is based upon the present value of estimated
future net cash flows from proved reserves, discounted at 10% and excluding
cash flows related to estimated abandonment costs, plus the lower of cost or
fair value of unproved properties. If net capitalized costs of oil and gas
properties exceed the ceiling limit, we must charge the amount of the excess to
earnings. This is called a "ceiling test write-down." This charge does not
impact cash flow from operating activities, but does reduce net income. The
risk that we will be required to write down the carrying value of oil and gas
properties increases when oil and natural gas prices are low. In addition,
write-downs may occur if we experience substantial downward adjustments to our
estimated proved reserves. We cannot assure you that we will not experience
ceiling test write-downs in the future.
The oil and gas exploration industry is
extremely competitive, which may adversely affect our profitability.
The oil and gas industry is intensely competitive and we compete with
other companies that have longer operating histories and greater financial and
other resources than we do. Many of these companies not only explore for and
produce crude oil and natural gas but also conduct refining operations and
market petroleum and other products on a worldwide basis. These competitors can
sustain longer periods of reduced prices of gas and oil and may also be in a
better position to outbid us to purchase particular interests in oil and gas
properties.
Our ability to produce sufficient
quantities of oil and gas from our properties may be adversely affected by a
number of factors outside of our control. If we are unable to produce oil and
gas from our properties in commercial quantities, our operations will be
severely affected.
Our business of exploring for and producing oil and gas involves a
substantial risk of investment loss. Drilling oil and gas wells involves the
risk that the wells may be unproductive or that the wells, although productive,
do not produce oil or gas in economic quantities. Other hazards, such as
unusual or unexpected geological formations, pressures, fires, blowouts, loss
of circulation of drilling fluids, or other conditions may substantially delay
or prevent completion of any well. This could result in a total loss of our
investment in a particular property. Adverse weather conditions can also hinder
drilling operations. A productive well may become uneconomic if water or other
deleterious substances are encountered, which impair or prevent the production
of oil and gas from the well. In addition, production from any well may be
unmarketable if it is impregnated with water or other deleterious substances.
As with any petroleum property, we cannot assure you that oil and gas will be
produced from the properties in which we have interests, nor can we assure the
marketability of oil and gas which may be acquired or discovered. There are
numerous factors beyond our control, including the proximity and capacity of
oil and gas pipelines and processing equipment, market fluctuations of prices, taxes,
royalties, allowable production and environmental protection. We cannot predict
how these factors will adversely affect our business.
7
We operate in foreign countries and are
subject to political, economic and other uncertainties.
We currently have operations in the United Kingdom, Norway and the
Netherlands. We may expand international operations to other countries or
regions in the future. International operations are subject to political,
economic and other uncertainties, including:
•
the risk of war, acts of terrorism,
revolution, border disputes, expropriation, renegotiation or modification of
existing contracts, import, export and transportation regulations and tariffs;
•
taxation policies, including royalty and tax
increases and retroactive tax claims;
•
exchange controls, currency fluctuations and
other uncertainties arising out of foreign government sovereignty over our
international operations;
•
laws and policies of the U.S. affecting
foreign trade, taxation and investment; and
•
the possibility of having to be subject to
the exclusive jurisdiction of foreign courts in connection with legal disputes
and the possible inability to subject foreign persons to the jurisdiction of
courts in the United States.
Foreign countries have occasionally asserted rights to land, including
oil and gas properties, through border disputes. If a country claims superior
rights to oil and gas leases or concessions granted to us by another country,
our interests could be lost or decreased in value. Various regions of the world
have a history of political and economic instability. This instability could
result in new governments or the adoption of new policies that might assume a
substantially more hostile attitude toward foreign investment. In an extreme
case, such a change could result in termination of contract rights and
expropriation of foreign—owned assets. This could adversely affect our
interests.
If the operator of a prospect in which
we participate does not maintain or fails to obtain adequate insurance, our
interest in such prospect could be materially and adversely affected.
Oil and gas operations are subject to particular hazards incident to
the drilling and production of oil and gas, such as blowouts, cratering,
explosions, uncontrollable flows of oil, gas or well fluids, fires and
pollution and other environmental risks. These hazards can cause personal
injury and loss of life, severe damage to and destruction of property and
equipment, pollution or environmental damage and suspension of operations.
We do not currently operate all of our oil and gas properties. In the
projects in which we own a non-operating interest directly or own an equity
interest in a limited partnership which in turn owns a non-operating interest,
the operator for the prospect may maintain
8
insurance of various types to cover our operations with policy limits
and retention liability customary in the industry. The occurrence of a significant
adverse event that is not fully covered by insurance could result in the loss
of our total investment in a particular prospect which could have a material
adverse effect on our financial condition and results of operations.
The cost of decommissioning is
uncertain.
As a result of our business strategy, we expect to incur obligations to
abandon and decommission certain structures in the North Sea. To date the
industry has little experience of removing oil and gas structures in the North
Sea. Fewer than 10% of the 400 structures have been removed and these were
small steel structures and sub sea installations in the shallower waters of the
Southern North Sea. In addition, certain groups have been established to study
issues relating to decommissioning and abandonment and how the costs will be
borne. Because the experience is limited, it is difficult to predict the costs
of any future decommissions for which we might become obligated.
Our failure to comply with
environmental regulations could result in significant fines and penalties and
our cost of compliance with such regulations could result in large expenses,
either of which could adversely affect our operations.
Our operations are subject to a variety of national, state, local, and
international laws and regulations governing the discharge of materials into
the environment or otherwise relating to environmental protection. Significant
fines and penalties may be imposed for the failure to comply with environmental
laws and regulations. Some environmental laws provide for joint and several
strict liability for remediation of releases of hazardous substances, rendering
a person liable for environmental damage without regard to negligence or fault
on the part of such person. In addition, we may be subject to claims alleging
personal injury or property damage as a result of alleged exposure to hazardous
substances such as oil and gas related products.
Some environmental protection laws and regulations may expose us to
liability arising out of the conduct of operations or conditions caused by
others, or for acts which were in compliance with all applicable laws at the
time the acts were performed. Changes in the environmental laws and
regulations, or claims for damages to persons, property, natural resources or
the environment, could result in substantial costs and liabilities to us.
Therefore, we may incur significant environmental compliance costs in the
future.
9
Our failure to comply with various levels
of governmental regulations to which we are subject could result in significant
fines and/or penalties and our cost of compliance with such regulations could
result in large expenses, either of which would adversely affect our
operations.
Oil and gas exploration, development and production are subject to
various types of regulation by local, state and federal agencies. Regulations
and laws affecting the oil and gas industry are comprehensive and under
constant review for amendment and expansion. These regulations and laws carry
substantial penalties for failure to comply. The regulatory burden on the oil
and gas industry increases our cost of doing business and, consequently,
adversely affects our profitability.
We are dependent on our executive
officers and need to attract and retain additional qualified personnel.
Our future success depends in large part on the service of William L.
Transier and John N. Seitz, both of whom have substantial experience in
the oil and gas industry. If either were to resign it could have a material
adverse effect on our business, operating results and financial condition.
While we have employment agreements with each of Mr. Transier and Mr.
Seitz, there can be no assurance that such agreements will be enforceable in
all circumstances, that we will have the resources to enforce such agreements
or that we will have the ability to retain their services due to resignation or
otherwise. Further, we do not intend to maintain key-person life insurance on
either Mr. Transier or Mr. Seitz. Our future success also depends upon our
ability to attract, assimilate and retain highly qualified technical and other
management personnel. There can be no assurance that we will continue to
attract, assimilate and retain key personnel, and the failure to do so will
have a material adverse effect on our business, operating results and financial
condition.
You may experience dilution of your
ownership interests due to the future issuance of additional shares of our
common stock.
We may in the future issue our previously authorized and unissued
securities which will result in the dilution of the ownership interests of our
present stockholders. We are currently authorized to issue 150,000,000 shares
of common stock and 376,287 shares of preferred stock with such designations,
preferences and rights as determined by our board of directors. At September 26,
2005, we had issued 75,159,544 shares of common stock, and outstanding options
and warrants to purchase an additional 7,034,595 shares of our common stock.  In addition, 16,185,260 shares of our common
stock are issuable upon conversion of our senior convertible notes due 2012. We
also have additional shares available for grant under our 2004 Incentive Plan.
Additional incentive plans or amendments to existing incentive plans for
employees may be adopted in the future. Issuance of these shares of common
stock may substantially dilute the ownership interests of our existing
stockholders. The potential issuance of such additional shares of common stock may
create downward pressure on the trading price of our common stock.
10
We may also issue additional shares of our stock in connection with the
hiring of personnel, future acquisitions, future private placements of our
securities for capital raising purposes, or for other business purposes. This
would further dilute the interests of our existing stockholders.
We do not intend to pay dividends in
the foreseeable future.
We have never declared or paid a dividend on our common stock. We
intend to retain earnings, if any, for use in the operation and expansion of
our business and therefore do not anticipate declaring or paying any dividends
in the foreseeable future.
The trading price of our common stock
may be volatile.
The trading price of our shares has from time to time fluctuated
significantly and in the future may be subject to similar fluctuations. The
trading price may be affected by a number of factors, including the risk
factors set forth herein, as well as our operating results, financial
condition, announcements or drilling activities, general conditions in the oil
and gas exploration and development industry, and other events or factors. In
recent years, broad stock market indices, in general, and smaller
capitalization companies, in particular, have experienced substantial price
fluctuations. In a volatile market, we may experience wide fluctuations in the
market price of our common stock.
There is a limited market for our
common stock.
Our common stock is trading on the American Stock Exchange.
Historically, there has not been an active trading market for significant
volumes of our common stock. We are not certain that an active trading market
for significant volumes of our common stock will develop, or if such a market
develops, that it will be sustained.
If we are unable to fulfill commitments
under any of our licenses, we will lose our interest in such license which will
result in the loss of our entire investment in such license.
Our ability to retain licenses in which we obtain an interest will
depend on our ability to fulfill the commitments made with respect to each
license. We cannot assure you that we or the other participants in the projects
will have the financial ability to fund these potential commitments.
Our operations are extremely dependent
on other companies and other service providers over which we have no control.
While we employ exploration and development personnel, we may also rely
upon the services of geologists, geophysicists, chemists, engineers and other
scientists to assist in the exploration and analysis of our prospects to
determine a method in which the
11
prospects may be developed in a cost-effective manner. In addition, we
rely upon the owners and operators of oil rigs and drilling equipment to drill
and develop our prospects to production. Although we have developed
relationships with a number of third party service providers, we cannot assure
that we will be able to continue to rely on such persons. If any of these
relationships with third party service providers are terminated or are
unavailable on terms that are favorable to us, then we will not be able to
execute our business plan.
Our debt level could negatively impact
our financial condition, results of operations and business prospects.
As of June 30, 2005, we had outstanding indebtedness of $81.25 million
aggregate principal amount of 6.00% Convertible Senior Notes Due 2012. Our
level of indebtedness could have important consequences on our operations,
including:
•
making it more difficult for us to satisfy
our obligations under the indentures or other debt and increasing the risk that
we may default on our debt obligations;
•
requiring us to dedicate a substantial
portion of our cash flow from operating activities to required payments on
debt, thereby reducing the availability of cash flow for working capital,
capital expenditures and other general business activities;
•
limiting our ability to obtain additional
financing in the future for working capital, capital expenditures, acquisitions
and other general business activities;
•
decreasing our ability to successfully
withstand a downturn in our business or the economy generally; and
•
placing us at a competitive disadvantage
against other less leveraged competitors.
We may be required to repay all or a portion of our debt on an
accelerated basis in certain circumstances. If we fail to comply with the
covenants and other restrictions in the agreements governing our debt, it could
lead to an event of default and the acceleration of our repayment of
outstanding debt. Our ability to comply with these covenants and other
restrictions may be affected by events beyond our control, including prevailing
economic and financial conditions.
We may not have sufficient funds to make such repayments. If we are
unable to repay our debt out of cash on hand, we could attempt to refinance
such debt, sell assets or repay such debt with the proceeds from an equity
offering. We cannot assure you that we will be able to generate sufficient cash
flow from operating activities to pay the interest on our debt or that future
borrowings, equity financings or proceeds from the sale of assets will be
available to pay or refinance such debt. Factors that will affect our ability
to raise cash through an offering of our capital stock, a refinancing of our
debt or a sale of assets include financial market conditions and our market
value and operating performance at
12
the time of such offering or other financing. We cannot assure you that
any such offering, refinancing or sale of assets can be successfully completed.
Use of Proceeds
We will not receive any proceeds from the sale of shares of our common
stock by the selling stockholders under this prospectus.
13
The Selling Stockholders
The selling stockholders may sell up to 14,072,650 shares of our common
stock pursuant to this prospectus (including up to 2,097,241 shares of our
restricted common stock granted under the Plan, 57,270 shares of common stock
issued to our non-employee directors under the Plan in lieu of compensation for
services as a director, 2,945,000 shares of our common stock underlying stock
options granted under the Plan, 1,466,667 shares of our restricted common stock
issued pursuant to certain non-plan restricted stock award agreements, 400,000
shares of our common stock underlying stock options issued pursuant to a
certain non-plan stock option agreement, and 5,876,859 shares of our common
stock that may subsequently be issued to our affiliates pursuant to future
grants under the Plan).  The following
table sets forth certain information known to us concerning each of the selling
stockholders.  The shares are being
registered to permit the selling stockholders to offer the shares for resale
from time to time.  See "Plan of
Distribution."
Name
Shares of
Common
Stock
Beneficially
Owned
Before
Offering (1)
Number of
Shares of
Common
Stock
Offered
Hereby (1)
Shares of
Common
Stock
Beneficially
Owned
Follow
Offering (2)
Percentage
of Shares of
Common
Stock
Owned
After
Offering (2)
William L.
  Transier (3)
6,410,915
1,233,832
5,593,750
7.4
%
John N.
  Seitz (4)
6,486,083
1,309,000
5,593,750
7.4
%
Bruce H.
  Stover (5)
1,040,679
1,407,346
250,000
*
Michael D.
  Cochran (6)
886,833
878,500
250,000
*
Ronald A.
  Bain (7)
687,483
282,816
404,667
*
H. Don
  Teague (8)
573,400
815,067
—
*
Robert K.
  Reeves (9)
118,750
18,750
100,000
*
John B.
  Connally III (10)
317,537
140,870
250,000
*
Andrew
  Cochran (11)
150,167
97,667
52,500
*
Robert L.
  Thompson (12)
207,922
324,589
—
*
Barry J.
  Galt (13)
132,197
135,530
50,000
*
Nancy K.
  Quinn (14)
100,037
140,870
12,500
*
Fiona
  Goodfellow (15)
98,417
38,250
60,167
*
Michael
  Neese (16)
81,989
28,614
53,375
*
Catherine L.
  Stubbs (17)
57,570
27,327
30,243
*
S. Lynn
  Willis (18)
53,852
21,327
32,525
*
Janice White
  (19)
72,000
15,000
57,000
*
Debra
  Bearden (20)
17,154
8,821
8,333
*
Aimee
  Stadtfeld (21)
13,282
6,615
6,667
*
Lance
  Gilliland (22)
439,841
800,000
39,841
*
*
Less
than 1%, based on 75,159,544 shares outstanding on September 20, 2005.
14
(1)
Ownership
is determined as of September 20, 2005 and in accordance with Rule 13d-3 under
the Securities Exchange Act of 1934. The actual number of shares beneficially
owned and offered for sale is subject to adjustment and could be materially
less or more than the estimated amount indicated depending upon factors, which
we cannot predict at this time.
(2)
Assumes
all the shares offered hereby are sold to persons who are not affiliates of the
selling stockholders and the selling stockholders sell no other shares they
beneficially own.
(3)
Mr.
Transier is the Co-Chief Executive Officer of the Company.  Mr. Transier is the trustee of the Lighthouse
Bypass Trust but has no economic interest in 12,500 shares owned by the
Lighthouse Bypass Trust and disclaims beneficial ownership of such shares.  The shares offered by Mr. Transier include
166,667 shares of restricted common stock that vest one-half on each of January
1, 2006 and January 1, 2007, and 166,667 shares of common stock underlying
stock options that vest one-half on each of January 1, 2006 and January 1, 2007,
250,000 shares of restricted common stock that vest one-third on each of
January 1, 2006, January 1, 2007 and January 1, 2008, 59,000 shares of
restricted common stock that vest on January 1, 2006, 250,000 shares of common
stock underlying stock options that vest one-third on each of January 1, 2006,
January 1, 2007 and January 1, 2008 and 83,333 shares of common stock
underlying fully-vested stock options.
(4)
Mr.
Seitz is the Co-Chief Executive Officer of the Company.  The shares offered by Mr. Seitz include
166,667 shares of restricted common stock that vest one-half on each of January
1, 2006 and January 1, 2007, and 166,667 shares of common stock underlying
stock options that vest one-half on each of January 1, 2006 and January 1, 2007,
250,000 shares of restricted common stock that vest one-third on each of
January 1, 2006, January 1,2007 and January 1, 2008, 59,000 shares of
restricted common stock that vest on January 1, 2006 , 250,000 shares of common
stock underlying stock options that vest one-third on each of January 1, 2006,
January 1,2007 and January 1, 2008 and 83,333 shares of common stock underlying
fully-vested stock options.
(5)
Mr.
Stover is the Executive Vice President Operations and Business Development of
the Company.  The shares offered by Mr.
Stover include 333,333 shares of restricted common stock that vest one-half on
each of January 1, 2006 and January 1, 2007, and 266,667 shares of common stock
underlying stock options that vest one-half on each of January 1, 2006 and
January 1, 2007, 100,000 shares of restricted common stock that vest one-third
on each of January 1, 2006, January 1, 2007 and January 1, 2008, 41,000 shares
of restricted common stock that vest on January 1, 2006, 100,000 shares of
common stock underlying stock options that vest one-third on each of January 1,
2006, January 1, 2007 and January 1, 2008 and 133,333 shares of common stock
underlying fully-vested stock options.
(6)
Michael
D. Cochran is Executive Vice President Exploration of the Company.  The shares offered by Michael D. Cochran
include 233,333 shares of restricted
15
common stock that vest one-half on each of January 1, 2006 and January
1, 2007, and 166,667 shares of common stock underlying stock options that vest
one-half on each of January 1, 2006 and January 1, 2007, 75,000 shares of
restricted common stock that vest one-third on each of January 1, 2006, January
1, 2007 and January 1, 2008, 41,000 shares of restricted common stock that vest
on January 1, 2006, 75,000 shares of common stock underlying stock options that
vest one-third on each of January 1, 2006, January 1, 2007 and January 1, 2008
and 83,333 shares of common stock underlying fully-vested stock options.  Also includes 250,000 shares owned of record
by 1600 Group, LLC, of which Mr. Cochran is the manager and has sole voting and
investing power.
(7)
Mr.
Bain is Vice President of Geosciences of the Company.  The shares offered by Mr. Bain include 133,333
shares of restricted common stock that vest one-half on each of January 1, 2006,
January 1, 2007, and 166,667 shares of common stock underlying stock options
that vest one-half on each of January 1, 2006 and January 1, 2007 and 66,667
shares of common stock underlying fully-vested stock options.
(8)
Mr.
Teague is Executive Vice President, Administration, General Counsel and
Secretary of the Company.  The shares
offered by Mr. Teague include 166,667 shares of restricted common stock that
vest one-half on each of January 1, 2006 and January 1, 2007, and 166,667
shares of common stock underlying stock options that vest one-half on each of
January 1, 2006 and January 1, 2007, 75,000 shares of restricted common stock
that vest one-third on each of January 1, 2006, January 1, 2007 and January 1,
2008, 35,000 shares of restricted common stock that vest on January 1, 2006,
100,000 shares of restricted common stock that vest on August 25, 2008, 50,000
shares of common stock underlying stock options that vest one-third on each of
January 1, 2006, January 1, 2007 and January 1, 2008 and 83,333 shares of
common stock underlying fully-vested stock options.
(9)
Mr.
Reeves was Executive Vice President, Administration, General Counsel and
Secretary of the Company until March 2004.
(10)
Mr.
Connally is a director of the Company. 
The shares offered by Mr. Connally include 13,333 shares of restricted
common stock that vest one-half on each of January 1, 2006 and January 1, 2007,
13,333 shares of common stock underlying stock options that vest one-half on
each of January 1, 2006 and January 1, 2007 and 6,667 shares of common stock
underlying fully-vested stock options.
(11)
Andrew
Cochran was Manager Exploration New Ventures of the Company until March 2005.
(12)
Mr.
Thompson is Vice President, Chief Accounting Officer of the Company.  The shares offered by Mr. Thompson include 66,667
shares of restricted common stock that vest one-half on each of January 1, 2006
and January 1, 2007, 66,667 shares of common stock underlying stock options
that vest one-half on each of January 1, 2006 and January 1, 2007, 25,000
shares of restricted common stock that vest one-third on each of January 1,
2006, January 1, 2007 and January 1, 2008, 24,000 shares of restricted common
stock that vest on January 1, 2006, 50,000 shares of common stock underlying
stock options that vest one-third on
16
each of January 1, 2006, January 1, 2007 and January 1, 2008 and 33,333
shares of common stock underlying fully-vested stock options.
(13)
Mr.
Galt is a director of the Company.  The
shares offered by Mr. Galt include 13,333 shares of restricted common stock
that vest one-half on each of January 1, 2006 and January 1, 2007, 13,333
shares of common stock underlying stock options that vest one-half on each of
January 1, 2006 and January 1, 2007 and 6,667 shares of common stock underlying
fully-vested stock options .
(14)
Ms.
Quinn is a director of the Company.  The
shares offered by Ms. Quinn include 13,333 shares of restricted common stock
that vest one-half on each of January 1, 2006 and January 1, 2007, 13,333
shares of common stock underlying stock options that vest one-half on each of
January 1, 2006 and January 1, 2007 and 6,667 shares of common stock underlying
fully-vested stock options.
(15)
Ms.
Goodfellow is Senior Geophysicist of the Company.  The shares offered by Ms. Goodfellow include
and 4,167 shares of restricted common stock that vest one-half on each of January
1, 2006 and January 1, 2007 and 2,083 shares of common stock underlying fully-vested
stock options.
(16)
Mr.
Neese is Senior Geophysicist of the Company. 
The shares offered by Mr. Neese include 16,667 shares of restricted
common stock that vest one-half on each of January 1, 2006 and January 1, 2007
and 3,375 shares of common stock underlying fully-vested stock options.
(17)
Ms.
Stubbs is Director of Financial Control and Assistant Secretary of the
Company.  The shares offered by Ms.
Stubbs include 16,667 shares of restricted common stock that vest one-half on
each of January 1, 2006 and January 1, 2007 and 8,333 shares of common stock
underlying fully-vested stock options.
(18)
Ms.
Willis is Director, Accounting & Financial Analysis of the Company.  The shares offered by Ms. Willis include 10,000
shares of restricted common stock that vest one-half on each of January 1, 2006
and January 1, 2007 and 5,000 shares of common stock underlying fully-vested stock
options.
(19)
Ms.
White is Vice President, Corporate Services of the Company.
(20)
Ms.
Bearden is Executive Assistant of the Company. 
The shares offered by Ms. Bearden consist of 6,667 shares of restricted
common stock that vest one-half on each of January 1, 2006 and January 1, 2007
and 3,333 shares of common stock underlying fully-vested stock options.
(21)
Ms.
Stadtfeld is Executive Assistant of the Company.  The shares offered by Ms. Stadtfeld consist
of 5,000 shares of restricted common stock that vest one-half on each of
January 1, 2006 and January 1, 2007 and 1,667 shares of common stock underlying
fully-vested stock options.
(22)
Mr.
Gilliland is Executive Vice President and Chief Financial Officer of the
Company.  The shares offered by Mr.
Gilliland consist of 400,000 shares of restricted common stock that vest
one-third on each of August 25, 2006, August 25, 2007 and August 25, 2008,
39,841 shares of restricted common stock that vest
17
on September 15, 2006, and 400,000 shares of common stock underlying
stock options that vest one-third on each of August 25, 2006, August 25, 2007
and August 25, 2008.
Except as indicated above, no selling stockholder has within the past
three years had any position, office or other material relationship with the
Company or any of its predecessors or affiliates.
18
Plan of Distribution
We will not receive any of the proceeds from the sale of the common
stock by the selling stockholders pursuant to this prospectus. The aggregate
proceeds to the selling stockholders from the sale of the common stock will be
the purchase price of the common stock less any discounts and commissions. A
selling stockholder reserves the right to accept and, together with its agents,
to reject, any proposed purchased of common stock to be made directly or
through agents.  This prospectus covers the resale of shares of our common stock by the
selling stockholders.  As used in this
prospectus, "selling stockholders" includes holders of shares of our common
stock received from a selling stockholder after the date of this prospectus and
who received such shares by gift or by other transfer by such selling
stockholder to an immediate family member of such stockholder, by will or
through operation of the laws of descent and distribution, and their respective
administrators, guardians, receivers, executors or other persons acting in a
similar capacity.
The common stock may be sold from time to time to purchasers:
•
directly by the
selling stockholders and their successors, which includes their transferees,
pledgees or donees or their successors; or
•
through
underwriters, broker-dealers or agents who may receive compensation in the form
of discounts, concessions or commissions from the selling stockholders or the
purchasers of the common stock. These discounts, concessions or commissions may
be in excess of those customary in the types of transactions involved.
The selling stockholders and any underwriters, broker-dealers or agents
who participate in the distribution of the common stock may be deemed to be "underwriters"
within the meaning of the Securities Act of 1933. As a result, any profits on
the sale of the common stock by selling stockholders and any discounts,
commissions or concessions received by any such broker-dealers or agents may be
deemed to be underwriting discounts, and "underwriters" within the meaning of
the Securities Act of 1933 will be subject to prospectus delivery requirements
of the Securities Act of 1933. If the selling stockholders are deemed to be
underwriters, the selling stockholders may be subject to certain statutory
liabilities, including, without limitation, liabilities under Sections 11, 12
and 17 of the Securities Act of 1933 and Rule 10b-5 under the Securities
Exchange Act of 1934. If the common stock is sold through underwriters,
broker-dealers or agents, the selling stockholders will be responsible for
underwriting discounts or commissions or agent's commissions.
The common stock may be sold in one or more transactions at:
•
fixed prices;
•
prevailing
market prices at the time of sale;
•
prices related
to such prevailing market prices;
•
varying prices
determined at the time of sale; or
•
negotiated
prices.
19
These sales may be effected in transactions:
•
on any national
securities exchange or quotation service on which the common stock may be
listed or quoted at the time of the sale;
•
in the
over-the-counter market;
•
otherwise than
on such exchanges or services or in the over-the-counter market;
•
through the
writing and exercise of options, whether such options are listed on an options
exchange or otherwise; or
•
through the
settlement of short sales.
These transactions may include block transactions or crosses. Crosses
are transactions in which the same broker acts as an agent on both sides of the
trade.
In connection with the sales of the common stock or otherwise, the
selling stockholders may enter into hedging transactions with broker-dealers or
other financial institutions. These broker-dealers or other financial
institutions may in turn engage in short sales of the common stock in the
course of hedging their positions. The selling stockholders may also sell the
common stock short and deliver common stock to close out short positions, or
loan or pledge common stock to broker-dealers that in turn may sell the common
stock.
Broker-dealers engaged by the selling stockholders may arrange for
other brokers-dealers to participate in sales. 
Broker-dealers may receive commissions or discounts from the selling
stockholders (or, if any broker-dealer acts as agent for the purchaser of
shares, from the purchaser) in amounts to be negotiated. The selling
stockholders do not expect these commissions and discounts to exceed what is
customary in the types of transactions involved.
The selling stockholders may from time to time pledge or grant a
security interest in some or all of the shares of common stock owned by them
and, if they default in the performance of their secured obligations, the
pledgees or secured parties may offer and sell the shares of common stock from
time to time under this prospectus, or under an amendment to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act
amending the list of selling stockholders to include the pledgee, transferee or
other successors in interest as selling stockholders under this prospectus.
To our knowledge, there are currently no plans, arrangements or
understandings between any selling stockholders and any underwriter,
broker-dealer or agent regarding the sale of the common stock.
At the time a particular offering is made, if required, a prospectus
supplement will be distributed, which will set forth the names of the selling
stockholders, the aggregate amount and type of securities being offered, the
price at which the securities are being sold and other material terms of the
offering, including the name or names of any underwriters, broker-dealers or
agents, any discounts, commissions and other terms
20
constituting compensation from the selling stockholders and any
discounts, commissions or concessions allowed or reallowed to paid
broker-dealers.
We cannot be certain that any selling stockholder will sell any or all
of the common stock pursuant to this prospectus. Further, we cannot assure you
that any such selling stockholder will not transfer, devise or gift the common
stock by other means not described in this prospectus. In addition, any common
stock covered by this prospectus that qualifies for sale pursuant to Rule 144
of the Securities Act of 1933 may be sold under Rule 144 rather than under this
prospectus. The common stock may be sold in some states only through registered
or licensed brokers or dealers. In addition, in some states the common stock
may not be sold unless it has been registered or qualified for sale or an
exemption from registration or qualification is available and complied with.
The selling stockholders and any other person participating in the sale
of the common stock will be subject to the Securities Exchange Act of 1934. The
Securities Exchange Act of 1934 rules include, without limitation, Regulation
M, which may limit the timing of purchases and sales of any of the common stock
by the selling stockholders and any other such person. In addition, Regulation
M may restrict the ability of any person engaged in the distribution of the
common stock and the ability of any person or entity to engage in market-making
activities with respect to the common stock.
We have agreed to indemnify the selling stockholders against certain
liabilities, including liabilities under the Securities Act of 1933.
We have agreed to pay substantially all expenses incidental to the registration,
offering and sale of the common stock to the public, other than commissions,
fees and discounts of underwriters, brokers, dealers and agents.
Legal Matters
Certain legal matters in connection with the common stock offered
hereby will be passed on for us by Porter & Hedges, L.L.P., Houston,
Texas.  Any underwriters will be advised
about other issues relating to by offering by their own legal counsel.
Experts
The consolidated financial statements of Endeavour International
Corporation as of December 31, 2003, and for each of the years in the two-year
period ended December 31, 2003, have been audited by L J Soldinger Associates
LLC, independent registered public accountants, as stated in their report. We
have incorporated these financial statements in this registration statement in
reliance upon L J Soldinger Associates, LLC report, given their authority as
experts in accounting and auditing.
The consolidated financial statements of Endeavour International
Corporation as of December 31, 2004, and for the year ended December 31, 2004,
and management's
21
assessment of the effectiveness of internal control over financial
reporting as of December 31, 2004 have been incorporated by reference herein
and in the registration statement in reliance upon the reports of KPMG LLP,
independent registered public accounting firm, appearing elsewhere
(incorporated by reference) herein, and upon the authority of said firm as
experts in accounting and auditing. The audit report on management's assessment
of the effectiveness of internal control over financial reporting and the
effectiveness of internal control over financial reporting as of December 31,
2004, contains an explanatory paragraph that states Endeavour International
Corporation acquired OER oil AS on November 23, 2004, and management excluded
from its assessment of the effectiveness of Endeavour International Corporation's
internal control over financial reporting as of December 31, 2004, OER oil AS's
internal control over financial reporting associated with total assets of $63.3
million and total revenues of $3.7 million included in the consolidated
financial statements of Endeavour International Corporation and subsidiaries as
of and for the year ended December 31, 2004. The audit of internal control over
financial reporting of Endeavour International Corporation also excluded an
evaluation of the internal control over financial reporting of OER oil AS.
22
Part II
Information Required in the Registration Statement
Item 3. 
Incorporation of Documents by Reference
The following documents, which have been previously filed by us with
the Securities and Exchange Commission under the Securities Exchange Act of 1934,
are incorporated herein by reference:
1)
Our
annual report on Form 10-K, as amended, for the year ended December 31, 2004
(File No. 001-32212).
2)
Our
quarterly reports on Form 10-Q for the quarters ended March 31, 2005 (File No.
001-32212) and June 30, 2005 (File No. 001-32212).
3)
Our
current reports on Form 8-K filed on January 5, 2005, January 11, 2005 (two
reports of the same date), January 14, 2005, January 24, 2005, January 26,
2005, as amended by Form 8-K/A on February 4, 2005, February 2, 2005, February
22, 2005, February 25, 2005, March 2, 2005, March 9, 2005, April 27, 2005, May
6, 2005, July 15, 2005, August 5, 2005, August 25, 2005, September 1, 2005,
September 6, 2005, September 13, 2005 (two reports of the same date) and
September 19, 2005 (File No. 001-32212) (excluding any information furnished
pursuant to Item 2.02 or Item 7.01 of any such current report on Form 8-K).
4)
The
description of our common stock contained in our registration statement on Form
8-A filed on June 10, 2004, as amended by our amended registration statement on
Form 8-A/A-1 filed on August 11, 2004 (File No. 001-32212), and including any
other amendments or reports filed for the purpose of updating such description.
All documents filed by us with the Securities and Exchange Commission
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934 (excluding any information furnished pursuant to Item 2.02 or Item 7.01
of any such current report on Form 8-K) subsequent to the filing date of this
registration statement and prior to the filing of a post-effective amendment to
this registration statement which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference into this registration statement and to
be a part hereof from the date of filing of each such document.
Item 4. 
Description of Securities
Not applicable.
Item 5. 
Interests of Named Experts and Counsel
Not applicable.
23
Item 6. 
Indemnification of Directors and Officers
The Company's Amended and Restated Articles of Incorporation provide
that no officer or director of the Company will be personally liable to the
Company or its stockholders for damages for breach of fiduciary duty as a
director or officer, other than (1) for acts or omissions that involve
intentional misconduct, fraud or knowing violations of law or (2) the unlawful
payment of a distribution.  In addition,
the Company's Amended and Restated Articles of Incorporation and Amended and
Restated Bylaws provide that the Company will indemnify the Company's officers
and directors and advance related costs and expenses incurred by our officers
and directors to the fullest extent permitted by Nevada law.  In addition, the Company may also enter into
agreements with any officer or director and may obtain insurance indemnifying
officers and directors against certain liabilities incurred by them.
Nevada Revised Statutes ("NRS") Section 78.138 provides that a director
or officer will not be individually liable unless it is proven that (i) the
director's or officer's acts or omissions constituted a breach of his or her
fiduciary duties, and (ii) such breach involved intentional misconduct, fraud
or a knowing violation of the law.
NRS Section 78.7502 permits a corporation to indemnify its directors
and officers against expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred in connection with a threatened, pending or
completed action, suit or proceeding if the officer or director (i) is not
liable pursuant to NRS 78.138 or (ii) acted in good faith and in a manner the
officer or director reasonably believed to be in or not opposed to the best
interests of the corporation and, if a criminal action or proceeding, had no
reasonable cause to believe the conduct of the officer or director was
unlawful.
NRS Section 78.751 permits a Nevada corporation to indemnify its
officers and directors against expenses incurred by them in defending a civil
or criminal action, suit or proceeding as they are incurred and in advance of
final disposition thereof, upon receipt of an undertaking by or on behalf of
the officer or director to repay the amount if it is ultimately determined by a
court of competent jurisdiction that such officer or director is not entitled
to be indemnified by the corporation. 
NRS 78.751 further permits the corporation to grant its directors and
officers additional rights of indemnification under its articles of
incorporation or bylaws or otherwise. 
NRS 78.752 provides that a Nevada corporation may purchase and maintain
insurance or make other financial arrangements on behalf of any person who is
or was a director, officer, employee or agent of the corporation, or is or was
serving at the request of the corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise, for any liability asserted against him and liability and expenses incurred
by him in his capacity as a director, officer, employee or agent, or arising
out of his status as such, whether or not the corporation has the authority to
indemnify him against such liability and expenses.
24
Item 7. 
Exemption From Registration Claimed
Of the shares registered by this registration statement, 2,731,250
shares of our restricted common stock and options to purchase 400,000 shares of
our common stock were issued to certain directors, officers, employees and
consultants of the Company as inducement or incentive awards.  Additionally, 57,270 shares of our common
stock were issued to our non-employee directors in lieu of compensation for
services as directors.  These grants were
exempt from registration pursuant to Section 4(2) of the Securities Act of
1933.
Item 8. 
Exhibits
Exhibit Number
Description
  of Exhibit
4.1
Endeavour International Corporation 2004 Incentive Plan (incorporated
  by reference to Annex B to the Company's definitive proxy statement filed
  July 18, 2005, File No. 001-32212).
4.2
Form of Restricted Stock Award Agreement (incorporated by reference
  to Exhibit 10.39 to the Company's Form 10-KSB filed March 30, 2004, File No.
  000-33439).
4.3
Restricted Stock Award Agreement dated effective August 26, 2005,
  between Endeavour International Corporation and Lance Gilliland (incorporated
  by reference to Exhibit 10.1 to the Company's Form 8-K filed September 19,
  2005, File No. 000-33439).
4.4
Stock Option Agreement dated effective August 26, 2005, between
  Endeavour International Corporation and Lance Gilliland (incorporated by
  reference to Exhibit 10.2 to the Company's Form 8-K filed September 19, 2005,
  File No. 000-33439).
5.1 (*)
Opinion of Porter & Hedges, L.L.P. with respect to legality of
  the securities, including consent.
23.1 (*)
Consent of L J Soldinger and Associates LLC.
23.2 (*)
Consent of KPMG LLP.
23.3 (*)
Consent of Gaffney, Cline & Associates Ltd.
23.3
Consent of Porter & Hedges, L.L.P. (included in Exhibit 5.1).
24.1
Power of Attorney (contained in signature page).
(*) 
Filed herewith.
Item 9. 
Undertakings.
(a)
The
undersigned registrant hereby undertakes:
(1)
To
file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i)
To
include any prospectus required by Section 10(a)(3) of the Securities Act of
1933.
25
(ii)
To
reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the
maximum aggregate offering price set forth in the "Calculation of Registration
Fee" table in the effective registration statement.
(iii)
To
include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement.
provided
,
however
,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the
registrant pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in the registration statement.
(2)
That,
for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.
(3)
To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.
(b)
The
undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's
annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act
of 1934 (and, where applicable, each filing of an employee benefit plan's
annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934)
that is incorporated by reference in the registration statement shall be deemed
to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(c)
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised
26
that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication
of such issue.
27
Signatures
Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Houston, State of Texas, on the 29th day of
September, 2005.
Endeavour International Corporation
By:
/s/ Robert L. Thompson
Robert L. Thompson
Vice President, Chief Accounting Officer
Power of Attorney and Signatures
Know all men by these presents, that each person whose signature
appears below, constitutes and appoints William L. Transier, John N. Seitz,
Lance Gilliland and Robert L. Thompson, and each of them, our true and
lawful attorneys-in-fact and agents, with power to act with or without the
others and with full power of substitution and resubstitution, to do any and
all acts and things and execute, in the name of the undersigned, any and all
instruments which said attorney-in-fact and agents may deem necessary or
advisable in order to enable Endeavour International Corporation to comply with
the Securities Act of 1933 and any requirements of the Securities and Exchange
Commission in respect thereof, in connection with the filing with the
Securities and Exchange Commission of the registration statement on Form S-8
under the Securities Act of 1933, including specifically but without
limitation, power and authority to sign the name of the undersigned to such
registration statement, and any amendments to such registration statement
(including post-effective amendments and additional registration statements
filed pursuant to Rule 462 of the Securities Act of 1933), and to file the same
with all exhibits thereto and other documents in connection therewith, with the
Securities and Exchange Commission, to sign any and all applications,
registration statements, notices or other documents necessary or advisable to
comply with applicable state securities laws, and to file the same, together with
other documents in connection therewith with the appropriate state securities
authorities, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and to perform each and every act and thing
requisite or necessary to be done in and about the premises, as fully and to
all intents and purposes as the undersigned might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, and any of
them, or their substitutes, may lawfully do or cause to be done by virtue
hereof.
28
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature
Title
Date
/s/ John N. Seitz
Co-Chief Executive Officer
September 29, 2005
John N. Seitz
and Director (Principal
Executive Officer)
/s/ William L. Transier
Co-Chief Executive Officer
September 29, 2005
William L. Transier
and Director (Principal
Executive Officer)
/s/ Lance Gilliland
Executive Vice President
September 29, 2005
Lance Gilliland
and Chief Financial Officer
(Principal Financial Officer)
/s/ Robert L. Thompson
Vice President, Chief
September 29, 2005
Robert L. Thompson
Accounting Officer
(Principal Accounting
Officer)
/s/ John B. Connally III
Director
September 29, 2005
John B. Connally III
/s/ Barry J. Galt
Director
September 29, 2005
Barry J. Galt
/s/ Nancy K. Quinn
Director
September 29, 2005
Nancy K. Quinn
29
Exhibit Index
Exhibit Number
Description
  of Exhibit
4.1
Endeavour International Corporation 2004 Incentive Plan (incorporated
  by reference to Annex B to the Company's definitive proxy statement filed
  July 18, 2005, File No. 001-32212).
4.2
Form of Restricted Stock Award Agreement (incorporated by reference
  to Exhibit 10.39 to the Company's Form 10-KSB filed March 30, 2004, File No.
  000-33439).
4.3
Restricted Stock Award Agreement dated effective August 26, 2005,
  between Endeavour International Corporation and Lance Gilliland (incorporated
  by reference to Exhibit 10.1 to the Company's Form 8-K filed September 19,
  2005, File No. 000-33439).
4.4
Stock Option Agreement dated effective August 26, 2005, between
  Endeavour International Corporation and Lance Gilliland (incorporated by
  reference to Exhibit 10.2 to the Company's Form 8-K filed September 19, 2005,
  File No. 000-33439).
5.1 (*)
Opinion of Porter & Hedges, L.L.P. with respect to legality of
  the securities, including consent.
23.1 (*)
Consent of L J Soldinger and Associates LLC.
23.2 (*)
Consent of KPMG LLP.
23.3 (*)
Consent of Gaffney, Cline & Associates Ltd.
23.3
Consent of Porter & Hedges, L.L.P. (included in Exhibit 5.1).
24.1
Power of Attorney (contained in signature page).
(*) 
Filed herewith.
30