2009-04-20-2009-04-06

Transaction Type
Announce Date
Post Date
Estimated Price
MM
Description

Partnered on 13-well Patrick Henry lease in NE OK.

Endeavor Power Corp., San Diego, (OTCBB: EDVP) says it has partnered with Kennesaw, Ga.-based Federated Energy Corp. on the 13-well Patrick Henry lease in northeastern Oklahoma. Endeavor says the wells, which are being reworked, should be producing approximately 30 barrels of oil per day by late spring or early summer. The company says a study of the property estimated that there is approximately 1 million recoverable barrels of oil, which could equal total revenues of more than $50 million. Additionally, Endeavor has acquired the right of first refusal to acquire up to 51% of the working interest in 187 additional wells in the lease. Endeavor Power has oil and gas operations in Oklahoma.