EX-4.2






Exhibit 4.2




REGISTRATION RIGHTS AGREEMENT




BY AND AMONG




ENDEAVOUR INTERNATIONAL CORPORATION




AS ISSUER,




AND




J.P. MORGAN SECURITIES INC.




AND




SANDERS MORRIS HARRIS INC.




AS PLACEMENT AGENTS




DATED AS OF JANUARY 20, 2005








1






THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made and entered into as of January
20, 2005, by and among Endeavour International Corporation, a Nevada corporation (the “Company”),
and J.P. Morgan Securities Inc. and Sanders Morris Harris Inc. (the “Placement Agents”) pursuant to
the Placement Agency Agreement, dated January 11, 2005, among the Company and the Placement Agents
(the “Placement Agency Agreement”).



In order to induce the investors (the “Purchasers”) to enter into the securities purchase
agreements, dated January 13, 2005 (each, a “Purchase Agreement” and collectively, the “Purchase
Agreements”), the Company has agreed to provide the registration rights set forth in this
Agreement. The execution of this Agreement is a condition to the closing under the Placement Agency
Agreement.



The Company agrees with the Placement Agents for the benefit of the beneficial owners from
time to time of the Notes (as defined herein) and the beneficial owners from time to time of the
Underlying Common Stock (as defined herein) issued upon conversion of the Notes (each of the
foregoing a “Holder” and together the “Holders”), as follows:



Section 1 . Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Placement Agency Agreement. As used in this Agreement, the
following terms shall have the following meanings:



“Affiliate” means with respect to any specified person, an “affiliate,” as defined in Rule
144, of such person.




“Amendment Effectiveness Deadline Date” has the meaning set forth in Section 2(d) hereof.



“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on
which banking institutions in The City of New York are authorized or obligated by law or executive
order to close.



“Common Stock” means the shares of common stock, par value $0.001 per share, of the Company
and any other shares of common stock as may constitute “Common Stock” for purposes of the
Indenture, including the Underlying Common Stock.




“Conversion Rate” has the meaning assigned to such term in the Indenture.




“Damages Accrual Period” has the meaning set forth in Section 2(e) hereof.



“Damages Payment Date” means each interest payment date under the Indenture (provided that
January 15, 2012, the maturity date of the Notes, shall also be a Damages Payment Date).




“Deferral Notice” has the meaning set forth in Section 3(i) hereof.




“Deferral Period” has the meaning set forth in Section 3(i) hereof.




“Effectiveness Deadline Date” has the meaning set forth in Section 2(a) hereof.



“Effectiveness Period” means the period commencing on the last date of original issuance of
the Notes and terminating upon the earliest of the following: (A) when all the Notes covered by the
Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or when
all shares of Common Stock issued upon conversion of any such Notes that had not been sold pursuant
to the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement and
(B) when, in the written opinion of counsel to the Company, all outstanding Registrable Securities
(as defined below) held by persons that are not Affiliates of the Company may be resold without
registration under the Securities Act pursuant to Rule 144(k) under the Securities Act or any
successor provision thereto.




“Event” has the meaning set forth in Section 2(e) hereof.




“Event Date” has the meaning set forth in Section 2(e) hereof.



“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder.




“Filing Deadline Date” has the meaning set forth in Section 2(a) hereof.




“Holder” has the meaning set forth in the third paragraph of this Agreement.



“Indenture” means the Indenture, dated as of January 20, 2005, between the Company and Wells
Fargo Bank, National Association, as trustee, pursuant to which the Notes are being issued.




“Initial Shelf Registration Statement” has the meaning set forth in Section 2(a) hereof.




“Issue Date” means the first date of original issuance of the Notes.




“Liquidated Damages Amount” has the meaning set forth in Section 2(e) hereof.




“Material Event” has the meaning set forth in Section 3(i) hereof.



“Notes” means the 6.00% Convertible Senior Notes due 2012 of the Company to be purchased by
the Purchasers pursuant to the Purchase Agreements.



“Notice and Questionnaire” means a written notice delivered to the Company containing
substantially the information called for by the Selling Securityholder Notice and Questionnaire
attached as Annex C to the Private Placement Memorandum of the Company dated January 13, 2005
relating to the Notes.



“Notice Holder” means, on any date, any Holder that has delivered a Notice and Questionnaire
to the Company on or prior to such date, so long as all of their Registrable Securities that have
been registered for resale pursuant to a Notice and Questionnaire have not been sold in accordance
with a Registration Statement (as defined below).




“Placement Agency Agreement” has the meaning set forth in the preamble hereof.




“Placement Agent” has the meaning set forth in the preamble hereof.



“Prospectus” means the prospectus included in any Registration Statement (including, without
limitation, a prospectus that discloses information previously omitted from a prospectus filed as
part of an effective registration statement in reliance upon Rule 415 promulgated under the
Securities Act), as amended or supplemented by any amendment or prospectus supplement, including
post-effective amendments, and all materials incorporated by reference or explicitly deemed to be
incorporated by reference in such prospectus.




“Purchase Agreement” has the meaning set forth in the preamble hereof.




“Purchaser” has the meaning set forth in the preamble hereof.



“Record Holder” means with respect to any Damages Payment Date relating to any Notes as to
which any such Liquidated Damages Amount has accrued, the holder of record of such Note on the
record date with respect to the interest payment date under the Indenture on which such Damages
Payment Date shall occur.



“Registrable Securities” means the Notes until such Notes have been converted into or
exchanged for the Underlying Common Stock and, at all times the Underlying Common Stock and any
securities into or for which such Underlying Common Stock has been converted or exchanged, and any
security issued with respect thereto upon any stock dividend, split or similar event until, in the
case of any such security, (A) the earliest of (i) its effective registration under the Securities
Act and resale in accordance with the Registration Statement covering it, (ii) except with respect
to Registrable Securities held by an affiliate of the Company, expiration of the holding period
that would be applicable thereto under Rule 144(k) or (iii) its sale to the public pursuant to Rule
144 (or any similar provision then in force, but not Rule 144A) under the Securities Act, and (B)
as a result of the event or circumstance described in any of the foregoing clauses (i) through
(iii), the legend with respect to transfer restrictions required under the Indenture is removed or
removable in accordance with the terms of the Indenture or such legend, as the case may be.




“Registration Expenses” has the meaning set forth in Section 5 hereof.



“Registration Statement” means any registration statement of the Company that covers any of
the Registrable Securities pursuant to the provisions of this Agreement including the Prospectus,
amendments and supplements to such registration statement, including post-effective amendments, all
exhibits, and all materials incorporated by reference or explicitly deemed to be incorporated by
reference in such registration statement.




“Restricted Securities” has the meaning given such term in Rule 144.



“Rule 144” means Rule 144 under the Securities Act, as such Rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the SEC.



“Rule 144A” means Rule 144A under the Securities Act, as such Rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the SEC.




“SEC” means the United States Securities and Exchange Commission.



“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated by the SEC thereunder.




“Shelf Registration Statement” has the meaning set forth in Section 2(a) hereof.




“Subsequent Shelf Registration Statement” has the meaning set forth in Section 2(b) hereof.




“TIA” means the Trust Indenture Act of 1939, as amended.




“Trustee” means Wells Fargo Bank, National Association, the Trustee under the Indenture.



“Underlying Common Stock” means the Common Stock into which the Notes are convertible or
issued upon any such conversion.



Section 2 . Shelf Registration. (a) The Company shall prepare and file or cause to be
prepared and filed with the SEC, as soon as practicable but in any event by the date (the “Filing
Deadline Date”) that is ninety (90) days after the Issue Date, a Registration Statement for an
offering to be made on a delayed or continuous basis pursuant to Rule 415 of the Securities Act (a
“Shelf Registration Statement”) registering the resale from time to time by Holders thereof of all
of the Registrable Securities (the “Initial Shelf Registration Statement”). The Initial Shelf
Registration Statement shall be on Form S-3 or another appropriate form permitting registration of
such Registrable Securities for resale by such Holders in accordance with the reasonable methods of
distribution elected by the Holders, approved by the Company, and set forth in the Initial Shelf
Registration Statement. The Company shall use its best efforts to cause the Initial Shelf
Registration Statement to be declared effective under the Securities Act as promptly as is
practicable but in any event by the date (the “Effectiveness Deadline Date”) that is two hundred
seventy (270) days after the Issue Date, and to keep the Initial Shelf Registration Statement (or
any Subsequent Shelf Registration Statement) continuously effective under the Securities Act until
the expiration of the Effectiveness Period. At the time the Initial Shelf Registration Statement is
declared effective, each Holder that became a Notice Holder on or prior to the date that is five
(5) Business Days prior to such time of effectiveness shall be named as a selling securityholder in
the Initial Shelf Registration Statement and the related Prospectus in such a manner as to permit
such Holder to deliver such Prospectus to purchasers of Registrable Securities in accordance with
applicable law.



(b) If the Initial Shelf Registration Statement or any Subsequent Shelf Registration Statement
ceases to be effective for any reason at any time during the Effectiveness Period, the Company
shall use its best efforts to obtain the prompt withdrawal of any order suspending the
effectiveness thereof, and in any event shall within five (5) Business Days of such cessation of
effectiveness amend the Shelf Registration Statement in a manner reasonably expected to obtain the
withdrawal of the order suspending the effectiveness thereof, or file an additional Shelf
Registration Statement covering all of the securities that as of the date of such filing are
Registrable Securities (a “Subsequent Shelf Registration Statement”). If a Subsequent Shelf
Registration Statement is filed, the Company shall use its best efforts to cause the Subsequent
Shelf Registration Statement to become effective as promptly as is practicable after such filing
and to keep such Registration Statement (or subsequent Shelf Registration Statement) continuously
effective until the end of the Effectiveness Period.



(c) The Company shall supplement and amend the Shelf Registration Statement if required by the
rules, regulations or instructions applicable to the registration form used by the Company for such
Shelf Registration Statement, if required by the Securities Act or as reasonably requested by the
Placement Agents or by the Trustee on behalf of the Holders of the Registrable Securities covered
by such Shelf Registration Statement.



(d) Each Holder of Registrable Securities agrees that if such Holder wishes to sell
Registrable Securities pursuant to a Shelf Registration Statement and related Prospectus, it will
do so only in accordance with this Section 2(d) and Section 3(i). Each Holder of Registrable
Securities wishing to sell Registrable Securities pursuant to a Shelf Registration Statement and
related Prospectus agrees to deliver a Notice and Questionnaire to the Company at least three (3)
Business Days prior to any intended distribution of Registrable Securities under the Shelf
Registration Statement; provided that Holders of Registrable Securities shall have at least twenty
(20) Business Days from the date on which the Notice and Questionnaire is first received by such
Holders to return a completed and signed Notice and Questionnaire to the Company. From and after
the date the Initial Shelf Registration Statement is declared effective, the Company shall, as
promptly as practicable after the date a Notice and Questionnaire is delivered, and in any event
within the later of (x) five (5) Business Days after such date or (y) five (5) Business Days after
the expiration of any Deferral Period in effect when the Notice and Questionnaire is delivered or
put into effect within five (5) Business Days of such delivery date, (i) if required by applicable
law, file with the SEC a post-effective amendment to the Shelf Registration Statement or, if
required by applicable law, prepare and file a supplement to the related Prospectus or a supplement
or amendment to any document incorporated therein by reference or file any other required document
so that the Holder delivering such Notice and Questionnaire is named as a selling securityholder in
the Shelf Registration Statement and the related Prospectus in such a manner as to permit such
Holder to deliver such Prospectus to purchasers of the Registrable Securities in accordance with
applicable law and, if the Company shall file a post-effective amendment to the Shelf Registration
Statement, use its best efforts to cause such post-effective amendment to be declared effective
under the Securities Act as promptly as is practicable, but in any event by the date (the
“Amendment Effectiveness Deadline Date”) that is thirty (30) days after the date such
post-effective amendment is required by this clause to be filed; (ii) provide such Holder copies of
any documents filed pursuant to Section 2(d)(i); and (iii) notify such Holder as promptly as
practicable after the effectiveness under the Securities Act of any post-effective amendment filed
pursuant to Section 2(d)(i); provided that if such Notice and Questionnaire is delivered during a
Deferral Period, or a Deferral Period is put into effect within five (5) Business Days after such
delivery date, the Company shall so inform the Holder delivering such Notice and Questionnaire and
shall take the actions set forth in clauses (i), (ii) and (iii) above within five (5) Business Days
after expiration of the Deferral Period in accordance with Section 3(i); provided further that if
under applicable law, the Company has more than one option as to the type or manner of making any
such filing, the Company will make the required filing or filings in the manner or of a type that
is reasonably expected to result in the earliest availability of the Prospectus for effecting
resales of Registrable Securities; provided further that in no event will the Company be required
to file with the SEC (x) a supplement to the Prospectus more than once in any calendar month, or
(y) a post-effective amendment to the Shelf Registration Statement more than once in any calendar
quarter, in each case solely for the purpose of naming any Holder, who is not included in the Shelf
Registration Statement, as a selling securityholder in the Shelf Registration Statement and the
related Prospectus. Notwithstanding anything contained herein to the contrary, the Company shall
be under no obligation to name any Holder that is not a Notice Holder as a selling securityholder
in any Registration Statement or related Prospectus; provided, however, that any Holder that
becomes a Notice Holder pursuant to the provisions of this Section 2(d) (whether or not such Holder
was a Notice Holder at the time the Registration Statement was declared effective) shall be named
as a selling securityholder in the Registration Statement or related Prospectus in accordance with
the requirements of this Section 2(d).



(e) The parties hereto agree that the Holders of Registrable Securities will suffer damages,
and that it would not be feasible to ascertain the extent of such damages with precision, if (i)
the Initial Shelf Registration Statement has not been filed on or prior to the Filing Deadline
Date, (ii) the Initial Shelf Registration Statement has not been declared effective under the
Securities Act on or prior to the Effectiveness Deadline Date, (iii) the Company has failed to
perform its obligations set forth in Section 2(b) within the time period required therein, (iv)
the Company has failed to perform its obligations set forth in Section 2(d) within the time periods
required therein or (v) the aggregate duration of Deferral Periods in any period exceeds the number
of days permitted in respect of such period pursuant to Section 3(i) hereof (each of the events of
a type described in any of the foregoing clauses (i) through (v) are individually referred to
herein as an “Event,” and the Filing Deadline Date in the case of clause (i), the Effectiveness
Deadline Date in the case of clause (ii), the date by which the Company is required to perform its
obligations set forth in Section 2(b) in the case of clause (iii), the date by which the Company is
required to perform its obligations set forth in Section 2(d) in the case of clause (iv) (including
the filing of any post-effective amendment prior to the Amendment Effectiveness Deadline Date), and
the date on which the aggregate duration of Deferral Periods in any period exceeds the number of
days permitted by Section 3(i) hereof in the case of clause (v), being referred to herein as an
“Event Date”). Events shall be deemed to continue until the following dates with respect to the
respective types of Events: the date the Initial Shelf Registration Statement is filed in the case
of an Event of the type described in clause (i), the date the Initial Shelf Registration Statement
is declared effective under the Securities Act in the case of an Event of the type described in
clause (ii), the date the Company performs its obligations set forth in Section 2(b) in the case of
an Event of the type described in clause (iii), the date the Company performs its obligations set
forth in Section 2(d) in the case of an Event of the type described in clause (iv) (including,
without limitation, the date the relevant post-effective amendment to the Shelf Registration
Statement is declared effective under the Securities Act), and termination of the Deferral Period
that caused the limit on the aggregate duration of Deferral Periods in a period set forth in
Section 3(i) to be exceeded in the case of the commencement of an Event of the type described in
clause (v).



Accordingly, commencing on (and including) any Event Date and ending on (but excluding) the
next date on which there are no Events that have occurred and are continuing (a “Damages Accrual
Period”), the Company agrees to pay, as liquidated damages and not as a penalty, an amount (the
“Liquidated Damages Amount”), payable on the Damages Payment Dates to Record Holders of Notes that
are Registrable Securities, accruing, for each portion of such Damages Accrual Period beginning on
and including a Damages Payment Date (or, if the first date of any Damages Accrual Period for which
the Liquidated Damages Amount is to be paid to Holders as a result of the occurrence of any
particular Event is other than a Damages Payment Date, then the Event Date) and ending on but
excluding the first to occur of (A) the date of the end of the Damages Accrual Period or (B) the
next Damages Payment Date, at a rate per annum equal to one-quarter of one percent (0.25%) for the
first 90-day period from the Event Date, and thereafter at a rate per annum equal to one-half of
one percent (0.5%) of the aggregate principal amount of such Notes; provided that in the case of a
Damages Accrual Period that is in effect solely as a result of an Event of the type described in
clause (iv) of the immediately preceding paragraph, such Liquidated Damages Amount shall be paid
only to the Holders that have delivered Notice and Questionnaires that caused the Company to incur
the obligations set forth in Section 2(d), the non-performance of which is the basis of such Event.
Notwithstanding the foregoing, no Liquidated Damages Amounts shall accrue as to any Registrable
Security from and after the earlier of (x) the date such security is no longer a Registrable
Security and (y) expiration of the Effectiveness Period. If a Holder converts some or all of its
Notes into Underlying Common Stock, such Holder will not be entitled to any Liquidated Damages
Amounts with respect to such Underlying Common Stock, provided, however, that if the Notes are
submitted for conversion into Underlying Common Stock during the existence of an Event, the Company
shall pay on the settlement date with respect to such conversion, accrued and unpaid Liquidated
Damages Amounts to the Holders of such Notes calculated in accordance with the first sentence of
this paragraph to the Conversion Date (as defined in the Indenture) relating to such settlement
date. The rate of accrual of the Liquidated Damages Amount with respect to any period shall not
exceed the rate provided for in this paragraph notwithstanding the occurrence of multiple
concurrent Events. Following the cure of all Events requiring the payment by the Company of
Liquidated Damages Amounts to the Holders of Registrable Securities pursuant to this Section, the
accrual of Liquidated Damages Amounts will cease (without in any way limiting the effect of any
subsequent Event requiring the payment of Liquidated Damages Amount by the Company).



The Trustee shall be entitled, on behalf of Holders of Notes, to seek any available remedy for
the enforcement of this Agreement, including for the payment of any Liquidated Damages Amount.
Notwithstanding the foregoing, the parties agree that the sole damages payable for a violation of
the terms of this Agreement with respect to which liquidated damages are expressly provided shall
be such liquidated damages.



All of the Company’s obligations set forth in this Section 2(e) that are outstanding with
respect to any Registrable Security at the time such security ceases to be a Registrable Security
shall survive until such time as all such obligations with respect to such security have been
satisfied in full (notwithstanding termination of this Agreement pursuant to Section 8(k)).



The parties hereto agree that the liquidated damages provided for in this Section 2(e)
constitute a reasonable estimate of the damages that may be incurred by Holders of Registrable
Securities by reason of the failure of the Shelf Registration Statement to be filed or declared
effective or available for effecting resales of Registrable Securities in accordance with the
provisions hereof.



Section 3 . Registration Procedures. In connection with the registration obligations of the
Company under Section 2 hereof, the Company shall:



(a) Prepare and file with the SEC a Registration Statement or Registration Statements on any
appropriate form under the Securities Act available for the sale of the Registrable Securities by
the Holders thereof in accordance with the intended method or methods of distribution thereof, and
use its best efforts to cause each such Registration Statement to become effective and remain
effective as provided herein; provided that before filing any Registration Statement or Prospectus
or any amendments or supplements thereto with the SEC, the Company shall furnish to the Placement
Agents, any Holders who so request and counsel for the Holders and for the Placement Agents (or, if
applicable, one separate counsel for the Holders) copies of all such documents proposed to be filed
and use its best efforts to reflect in each such document when so filed with the SEC such comments
as such counsel reasonably shall propose within three (3) Business Days of the delivery of such
copies to the Placement Agents, any Holders and such counsel.



(b) Prepare and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement continuously
effective until the expiration of the Effectiveness Period; cause the related Prospectus to be
supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to
Rule 424 (or any similar provisions then in force) under the Securities Act; and use its best
efforts to comply with the provisions of the Securities Act applicable to them with respect to the
disposition of all securities covered by such Registration Statement during the Effectiveness
Period in accordance with the intended methods of disposition by the sellers thereof set forth in
such Registration Statement as so amended or such Prospectus as so supplemented.



(c) As promptly as practicable give notice to the Notice Holders, the Placement Agents, the
Holders and counsel for the Holders and for the Placement Agents (or, if applicable, one separate
counsel for the Holders) (i) when any Prospectus, Prospectus supplement, Registration Statement or
post-effective amendment to a Registration Statement has been filed with the SEC and, with respect
to a Registration Statement or any post-effective amendment, when the same has been declared
effective, (ii) of any request, following the effectiveness of the Initial Shelf Registration
Statement under the Securities Act, by the SEC or any other federal or state governmental authority
for amendments or supplements to any Registration Statement or related Prospectus or for additional
information, (iii) of the issuance by the SEC or any other federal or state governmental authority
of any stop order suspending the effectiveness of any Registration Statement or the initiation or
threatening of any proceedings for that purpose, (iv) of the receipt by the Company of any
notification with respect to the suspension of the qualification or exemption from qualification of
any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of
any proceeding for such purpose, (v) after the effective date of any Registration Statement filed
pursuant to this Agreement of the occurrence of (but not the nature of or details concerning) a
Material Event and (vi) of the determination by the Company that a post-effective amendment to a
Registration Statement will be filed with the SEC, which notice may, at the discretion of the
Company (or as required pursuant to Section 3(i)), state that it constitutes a Deferral Notice, in
which event the provisions of Section 3(i) shall apply.



(d) Use its best efforts to prevent the issuance of, and, if issued, to obtain the withdrawal
of any order suspending the effectiveness of a Registration Statement or the lifting of any
suspension of the qualification (or exemption from qualification) of any of the Registrable
Securities for sale in any jurisdiction in which they have been qualified for sale, in either case
at the earliest possible moment, and provide prompt notice to each Notice Holder and the Placement
Agents of the withdrawal of any such order.



(e) If reasonably requested by the Placement Agents or any Notice Holder, as promptly as
practicable incorporate in a Prospectus supplement or post-effective amendment to a Registration
Statement such information as the Placement Agents, such Notice Holder or counsel for the Holders
and for the Placement Agents (or, if applicable, one separate counsel for the Holders) shall, on
the basis of a written opinion of nationally-recognized counsel experienced in such matters,
determine to be required to be included therein by applicable law and make any required filings of
such Prospectus supplement or such post-effective amendment provided that the Company shall not be
required to take any actions under this Section 3(e) that, in the written opinion of counsel for
the Company, are not in compliance with appliance law.



(f) As promptly as practicable furnish to each Notice Holder, counsel for the Holders and for
the Placement Agents (or, if applicable, one separate counsel for the Holders) and the Placement
Agents, without charge, at least one (1) conformed copy of the Registration Statement and any
amendment thereto, including financial statements but excluding schedules, all documents
incorporated or deemed to be incorporated therein by reference and all exhibits (unless requested
in writing to the Company by such Notice Holder, such counsel or the Placement Agents).



(g) During the Effectiveness Period, deliver to each Notice Holder, counsel for the Holders
and for the Placement Agents (or, if applicable, one separate counsel for the Holders) and the
Placement Agents, in connection with any sale of Registrable Securities pursuant to a Registration
Statement, without charge, as many copies of the Prospectus or Prospectuses relating to such
Registrable Securities (including each preliminary prospectus) and any amendment or supplement
thereto as such Notice Holder may reasonably request; and the Company hereby consents (except
during such periods that a Deferral Notice is outstanding and has not been revoked) to the use of
such Prospectus or each amendment or supplement thereto by each Notice Holder, in connection with
any offering and sale of the Registrable Securities covered by such Prospectus or any amendment or
supplement thereto in the manner set forth therein.



(h) Prior to any public offering of the Registrable Securities pursuant to the Shelf
Registration Statement, use its best efforts to register or qualify or cooperate with the Notice
Holders in connection with the registration or qualification (or exemption from such registration
or qualification) of such Registrable Securities for offer and sale under the securities or Blue
Sky laws of such jurisdictions within the United States as any Notice Holder reasonably requests in
writing (which request may be included in the Notice and Questionnaire); prior to any public
offering of the Registrable Securities pursuant to the Shelf Registration Statement, use its best
efforts to keep each such registration or qualification (or exemption therefrom) effective during
the Effectiveness Period in connection with such Notice Holder’s offer and sale of Registrable
Securities pursuant to such registration or qualification (or exemption therefrom) and do any and
all other acts or things reasonably necessary or advisable to enable the disposition in such
jurisdictions of such Registrable Securities in the manner set forth in the relevant Registration
Statement and the related Prospectus; provided that the Company will not be required to (i) qualify
as a foreign corporation or as a dealer in securities in any jurisdiction where they would not
otherwise be required to qualify but for this Agreement or (ii) take any action that would subject
them to general service of process in suits or to taxation in any such jurisdiction where they are
not then so subject.



(i) Upon (A) the issuance by the SEC of a stop order suspending the effectiveness of the Shelf
Registration Statement or the initiation of proceedings with respect to the Shelf Registration
Statement under Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any event or the
existence of any fact as a result of which any Registration Statement shall contain any untrue
statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading, or any Prospectus shall contain any untrue
statement of a material fact or omit to state any material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading,
or (C) the occurrence or existence of any pending corporate development (a “Material Event”) that,
in the reasonable discretion of the Company, makes it appropriate to suspend the availability of
the Shelf Registration Statement and the related Prospectus, (i) in the case of clause (B) above,
subject to the next sentence, as promptly as practicable prepare and file, if necessary pursuant to
applicable law, a post-effective amendment to such Registration Statement or a supplement to the
related Prospectus or any document incorporated therein by reference or file any other required
document that would be incorporated by reference into such Registration Statement and Prospectus so
that such Registration Statement does not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements
therein not misleading, and such Prospectus does not contain any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading (it being understood that the
Company may rely on information provided by each Notice Holder with respect to such Notice Holder),
as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder, and,
in the case of a post-effective amendment to a Registration Statement, subject to the next
sentence, use its best efforts to cause it to be declared effective as promptly as is practicable,
and (ii) give notice to the Notice Holders, the Placement Agents and counsel for the Holders and
for the Placement Agents (or, if applicable, one separate counsel for the Holders) that the
availability of the Shelf Registration Statement is suspended (a “Deferral Notice”) and, upon
receipt of any Deferral Notice, each Notice Holder agrees not to sell any Registrable Securities
pursuant to the Registration Statement until such Notice Holder’s receipt of copies of the
supplemented or amended Prospectus provided for in clause (i) above, or until it is advised in
writing by the Company that the Prospectus may be used, and has received copies of any additional
or supplemental filings that are incorporated or deemed incorporated by reference in such
Prospectus. The Company will use its best efforts to ensure that the use of the Prospectus may be
resumed (x) in the case of clause (A) above, as promptly as is practicable, (y) in the case of
clause (B) above, as soon as, in the reasonable judgment of the Company, the Registration Statement
does not contain any untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein not misleading and the
Prospectus does not contain any untrue statement of a material fact or omits to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, and (z) in the case of clause (C) above, as soon as, in the
reasonable discretion of the Company, such suspension is no longer appropriate. The period during
which the availability of the Registration Statement and any Prospectus is suspended (the “Deferral
Period”) without the Company incurring any obligation to pay liquidated damages pursuant to Section
2(e), shall not exceed forty-five (45) days in any ninety- (90-) day period and ninety (90) days in
any twelve- (12-) month period.



(j) Make available for inspection during normal business hours by a representative for the
Notice Holders of such Registrable Securities, and any broker-dealers, attorneys and accountants
retained by such Notice Holders, all relevant financial and other records and pertinent corporate
documents and properties of the Company and its subsidiaries, and cause the appropriate officers,
directors and employees of the Company and its subsidiaries to make available for inspection during
normal business hours all relevant information reasonably requested by such representative for the
Notice Holders, or any such broker-dealers, attorneys or accountants in connection with such
disposition, in each case as is customary for similar “due diligence” examinations; provided,
however, that such persons shall first agree in writing with the Company that any information that
is reasonably and in good faith designated by the Company in writing as confidential at the time of
delivery of such information shall be kept confidential by such persons and shall be used solely
for the purposes of exercising rights under this Agreement, unless (i) disclosure of such
information is required by court or administrative order or is necessary to respond to inquiries of
regulatory authorities, (ii) disclosure of such information is required by law (including any
disclosure requirements pursuant to federal securities laws in connection with the filing of any
Registration Statement or the use of any Prospectus referred to in this Agreement), (iii) such
information becomes generally available to the public other than as a result of a disclosure or
failure to safeguard by any such person or (iv) such information becomes available to any such
person from a source other than the Company and such source is not bound by a confidentiality
agreement or is not otherwise under a duty of trust to the Company, and provided that the foregoing
inspection and information gathering shall, to the greatest extent possible, be coordinated on
behalf of all the Notice Holders and the other parties entitled thereto by the one counsel for the
Holders referred to in Section 5.



(k) Comply with all applicable rules and regulations of the SEC and make generally available
to its securityholders earning statements (which need not be audited) satisfying the provisions of
Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under
the Securities Act) no later than 45 days after the end of any 12-month period (or 90 days after
the end of any 12-month period if such period is a fiscal year) commencing on the first day of the
first fiscal quarter of the Company commencing after the effective date of a Registration
Statement, which statements shall cover said 12-month periods.



(l) Cooperate with each Notice Holder to facilitate the timely preparation and delivery of
certificates representing Registrable Securities sold pursuant to a Registration Statement, which
certificates shall not bear any restrictive legends, and cause such Registrable Securities to be in
such denominations as are permitted by the Indenture and registered in such names as such Notice
Holder may request in writing at least (2) Business Days prior to any sale of such Registrable
Securities.



(m) Provide a CUSIP number for all Registrable Securities covered by each Registration
Statement not later than the effective date of such Registration Statement and provide the Trustee
and the transfer agent for the Common Stock with printed certificates for the Registrable
Securities that are in a form eligible for deposit with The Depository Trust Company.



(n) Cooperate and assist in any filings required to be made with the National Association of
Securities Dealers, Inc.



(o) Upon (i) the filing of the Initial Registration Statement and (ii) the effectiveness of
the Initial Registration Statement, announce the same, in each case by release to business wire.



(p) Enter into such customary agreements and take all such other necessary actions in
connection therewith (including those requested by the holders of a majority of the Registrable
Securities being sold) in order to expedite or facilitate disposition of such Registrable
Securities.



(q) Cause the Indenture to be qualified under the TIA not later than the effective date of any
Registration Statement; and in connection therewith, cooperate with the Trustee to effect such
changes to the Indenture as may be required for the Indenture to be so qualified in accordance with
the terms of the TIA and execute, and use its best efforts to cause the Trustee to execute, all
documents as may be required to effect such changes, and all other forms and documents required to
be filed with the SEC to enable the Indenture to be so qualified in a timely manner.



Section 4 . Holder’s Obligations. Each Holder agrees, by acquisition of the Registrable
Securities, that no Holder of Registrable Securities shall be entitled to sell any of such
Registrable Securities pursuant to a Registration Statement or to receive a Prospectus relating
thereto, unless such Holder has furnished the Company with a Notice and Questionnaire as required
pursuant to Section 2(d) hereof (including the information required to be included in such Notice
and Questionnaire) and the information set forth in the next sentence. Each Notice Holder agrees
promptly to furnish to the Company all information required to be disclosed in order to make the
information previously furnished to the Company by such Notice Holder not misleading and any other
information regarding such Notice Holder and the distribution of such Registrable Securities as the
Company may from time to time reasonably request. Any sale of any Registrable Securities by any
Holder shall constitute a representation and warranty by such Holder that the information relating
to such Holder and its plan of distribution is as set forth in the Prospectus delivered by such
Holder in connection with such disposition, that such Prospectus does not as of the time of such
sale contain any untrue statement of a material fact relating to or provided by such Holder or its
plan of distribution and that such Prospectus does not as of the time of such sale omit to state
any material fact relating to or provided by such Holder or its plan of distribution necessary in
order to make the statements in such Prospectus, in the light of the circumstances under which they
were made, not misleading.



Section 5 . Registration Expenses. The Company shall bear all fees and expenses incurred in
connection with the performance by the Company of its obligations under Sections 2 and 3 of this
Agreement whether or not any of the Registration Statements are declared effective. Such fees and
expenses (“Registration Expenses”) shall include, without limitation, (i) all registration and
filing fees (including, without limitation, fees and expenses (x) with respect to filings required
to be made with the National Association of Securities Dealers, Inc. and (y) of compliance with
federal and state securities or Blue Sky laws (including, without limitation, reasonable fees and
disbursements of counsel for the Holders in connection with Blue Sky qualifications of the
Registrable Securities under the laws of such jurisdictions as the Notice Holders of a majority of
the Registrable Securities being sold pursuant to a Registration Statement may designate), (ii)
printing expenses (including, without limitation, expenses of printing certificates for Registrable
Securities in a form eligible for deposit with The Depository Trust Company), (iii) duplication
expenses relating to copies of any Registration Statement or Prospectus delivered to any Holders
hereunder, (iv) fees and disbursements of counsel for the Company and the fees and disbursements of
one counsel for the Holders in connection with the Shelf Registration Statement, (v) fees and
disbursements of the Trustee and its counsel and of the registrar and transfer agent for the Common
Stock and (vi) Securities Act liability insurance obtained by the Company in its sole discretion.
In addition, the Company shall pay the internal expenses of the Company (including, without
limitation, all salaries and expenses of officers and employees performing legal or accounting
duties), the expense of any annual audit, the fees and expenses incurred in connection with the
listing by the Company of the Registrable Securities on any securities exchange on which similar
securities of the Company are then listed and the fees and expenses of any person, including
special experts, retained by the Company.




Section 6 . Indemnification; Contribution.



(a) The Company agrees to indemnify and hold harmless each Placement Agent, each Holder and
each person, if any, who controls any Placement Agent or any Holder within the meaning of Section
15 of the 1933 Act or Section 20 of the 1934 Act as follows:




(i) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, arising out of any untrue statement or alleged untrue statement of a material
fact contained in any Registration Statement (or any amendment or supplement thereto)
pursuant to which Registrable Securities were registered under the 1933 Act, including all
documents incorporated therein by reference, or the omission or alleged omission therefrom
of a material fact required to be stated therein or necessary to make the statements
therein not misleading, or arising out of any untrue statement or alleged untrue statement
of a material fact contained in any Prospectus (or any amendment or supplement thereto) or
the omission or alleged omission therefrom of a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not
misleading;




(ii) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, to the extent of the aggregate amount paid in settlement of any litigation, or
any investigation or proceeding by any governmental agency or body, commenced or
threatened, or of any claim whatsoever based upon any such untrue statement or omission,
or any such alleged untrue statement or omission; provided that (subject to Section 6(d)
below) any such settlement is effected with the written consent of the Company; and




(iii) against any and all expense whatsoever, as incurred (including the fees and
disbursements of counsel chosen by any indemnified party), reasonably incurred in
investigating, preparing or defending against any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue
statement or omission, to the extent that any such expense is not paid under subparagraph
(i) or (ii) above;



provided, however, that this indemnity agreement shall not apply to any loss, liability, claim,
damage or expense to the extent arising out of any untrue statement or omission or alleged untrue
statement or omission made in reliance upon and in conformity with written information furnished to
the Company by the Placement Agents or such Holder expressly for use in a Registration Statement
(or any amendment thereto) or any Prospectus (or any amendment or supplement thereto).



(b) Each Holder severally, but not jointly, agrees to indemnify and hold harmless the Company,
each Placement Agent, the other selling Holders, and each of their respective directors and
officers, and each person, if any, who controls the Company, any Placement Agent or any other
selling Holder within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act,
against any and all loss, liability, claim, damage and expense described in the indemnity contained
in Section 6(a) hereof, as incurred, but only with respect to untrue statements or omissions, or
alleged untrue statements or omissions, made in the Shelf Registration Statement (or any amendment
thereto) or any Prospectus included therein (or any amendment or supplement thereto) in reliance
upon and in conformity with written information with respect to such Holder furnished to the
Company by such Holder expressly for use in the Shelf Registration Statement (or any amendment
thereto) or such Prospectus (or any amendment or supplement thereto); provided, however, that no
such Holder shall be liable for any claims hereunder in excess of the amount of net proceeds
received by such Holder from the sale of Registrable Securities pursuant to such Shelf Registration
Statement.



(c) Each indemnified party shall give notice as promptly as reasonably practicable to each
indemnifying party of any action or proceeding commenced against it in respect of which indemnity
may be sought hereunder, but failure so to notify an indemnifying party shall not relieve such
indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a
result thereof and in any event shall not relieve it from any liability which it may have otherwise
than on account of this Section 6. An indemnifying party may participate at its own expense in the
defense of such action; provided, however, that counsel to the indemnifying party shall not (except
with the consent of the indemnified party) also be counsel to the indemnified party. In no event
shall the indemnifying party or parties be liable for the fees and expenses of more than one
counsel (in addition to any local counsel) separate from their own counsel for all indemnified
parties in connection with any one action or separate but similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances. No indemnifying party
shall, without the prior written consent of the indemnified parties, settle or compromise or
consent to the entry of any judgment with respect to any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in
respect of which indemnification or contribution could be sought under this Section 6 (whether or
not the indemnified parties are actual or potential parties thereto), unless such settlement,
compromise or consent (i) includes an unconditional release of each indemnified party from all
liability arising out of such litigation, investigation, proceeding or claim and (ii) does not
include a statement as to or an admission of fault, culpability or a failure to act by or on behalf
of any indemnified party.



(d) If at any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees
that it shall be liable for any settlement of the nature contemplated by Section 6(a)(ii) effected
without its written consent if (i) such settlement is entered into more than 45 days after receipt
by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have
received notice of the terms of such settlement at least 30 days prior to such settlement being
entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in
accordance with such request prior to the date of such settlement.



(e) If the indemnification provided for in this Section 6 is for any reason unavailable to or
insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims,
damages or expenses referred to therein, then each indemnifying party shall contribute to the
aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such
indemnified party, as incurred, in such proportion as is appropriate to reflect the relative fault
of the indemnifying party or parties on the one hand and the indemnified party on the other hand in
connection with the statements or omissions that resulted in such losses, liabilities, claims,
damages or expenses, as well as any other relevant equitable considerations.



The relative fault of the Company on the one hand and the Holders on the other hand shall be
determined by reference to, among other things, whether any such untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact relates to information
supplied by the Company or the Holders and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.



The Company and the Holders agree that it would not be just and equitable if contribution
pursuant to this Section 6(e) were determined by pro rata allocation or by any other method of
allocation that does not take account of the equitable considerations referred to above in this
Section 6(e). The aggregate amount of losses, liabilities, claims, damages and expenses incurred by
an indemnified party and referred to above in this Section 6(e) shall be deemed to include any
legal or other expenses reasonably incurred by such indemnified party in investigating, preparing
or defending against any litigation, or any investigation or proceeding by any governmental agency
or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged
untrue statement or omission or alleged omission.



Notwithstanding the provisions of this Section 6, no Holder shall be required to indemnify or
contribute any amount in excess of the amount by which the total price at which the Registrable
Securities sold by such Holder and distributed to the public were offered to the public exceeds the
amount of any damages that such Holder has otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission.



No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation.



For purposes of this Section 6, each person, if any, who controls any Placement Agent or any
Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act
shall have the same rights to contribution as such Placement Agent or Holder, and each director of
and each person, if any, who controls the Company within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act shall have the same rights to contribution as the
Company.



Section 7 . Information Requirements. (a) The Company covenants that, if at any time before
the end of the Effectiveness Period it is not subject to the reporting requirements of the Exchange
Act, it will cooperate with any Holder of Registrable Securities and take such further reasonable
action as any Holder of Registrable Securities may reasonably request in writing (including,
without limitation, making such reasonable representations as any such Holder may reasonably
request), all to the extent required from time to time to enable such Holder to sell Registrable
Securities without registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 and Rule 144A under the Securities Act and customarily taken in connection
with sales pursuant to such exemptions. Upon the written request of any Holder of Registrable
Securities, the Company shall deliver to such Holder a written statement as to whether it has
complied with such filing requirements, unless such a statement has been included in its most
recent report filed pursuant to Section 13 or Section 15(d) of Exchange Act. Notwithstanding the
foregoing, nothing in this Section 7 shall be deemed to require the Company to register any of its
securities (other than the Common Stock) under any section of the Exchange Act.



(b) The Company shall file the reports required to be filed by it under the Exchange Act and
shall comply with all other requirements set forth in the instructions to Form S-3 (or such other
form as may be applicable) in order to allow it to be eligible to file registration statements on
Form S-3 (or such other form as may be applicable).




Section 8 . Miscellaneous.



(a) No Conflicting Agreements. The Company is not, as of the date hereof, a party to, nor
shall it, on or after the date of this Agreement, enter into, any agreement with respect to its
securities that conflicts with the rights granted to the Holders of Registrable Securities in this
Agreement. The Company represents and warrants that the rights granted to the Holders of
Registrable Securities hereunder do not in any way conflict with the rights granted to the holders
of the Company’s securities under any other agreements. Notwithstanding the foregoing, the
Placement Agents and the Holders acknowledge that the Company is obligated, and may obligate itself
from time to time in the future, to register its securities for other holders pursuant to separate
registration statements.



(b) Amendments and Waivers. The provisions of this Agreement, including the provisions of this
sentence, may not be amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, unless the Company has obtained the written consent of
Holders of a majority of the then outstanding Underlying Common Stock constituting Registrable
Securities (with Holders of Notes deemed to be the Holders, for purposes of this Section, of the
number of outstanding shares of Underlying Common Stock into which such Notes are or would be
convertible or exchangeable as of the date on which such consent is requested). Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that
relates exclusively to the rights of Holders of Registrable Securities whose securities are being
sold pursuant to a Registration Statement and that does not directly or indirectly affect the
rights of other Holders of Registrable Securities may be given by Holders of at least a majority of
the Registrable Securities being sold by such Holders pursuant to such Registration Statement;
provided that the provisions of this sentence may not be amended, modified, or supplemented except
in accordance with the provisions of the immediately preceding sentence. Each Holder of Registrable
Securities outstanding at the time of any such amendment, modification, supplement, waiver or
consent or thereafter shall be bound by any such amendment, modification, supplement, waiver or
consent effected pursuant to this Section 8(b), whether or not any notice, writing or marking
indicating such amendment, modification, supplement, waiver or consent appears on the Registrable
Securities or is delivered to such Holder.



(c) Notices. All notices and other communications provided for or permitted hereunder shall
be made in writing by hand delivery, by telecopier, by courier guaranteeing overnight delivery or
by first-class mail, return receipt requested, and shall be deemed given (i) when made, if made by
hand delivery, (ii) upon confirmation, if made by telecopier, (iii) one (1) Business Day after
being deposited with such courier, if made by overnight courier or (iv) on the date indicated on
the notice of receipt, if made by first-class mail, to the parties as follows:



(x) if to a Holder of Registrable Securities, at the most current address given by such
Holder to the Company in a Notice and Questionnaire or any amendment thereto;



(y) if to the Company, to:



Endeavour International Corporation


1000 Main Street, Suite 3300


Houston, Texas 77002


Attention: General Counsel


Telecopy No.: (713) 307-8794



(z) if to the Placement Agents, to:



J.P. Morgan Securities Inc.


270 Park Avenue


New York, NY 10017


Attention: Syndicate Department


Telecopy No.: (212) 622-2071



Sanders Morris Harris Inc.


600 Travis, Suite 3100


Houston, Texas 77002


Attention: Chief Executive Officer


Telecopy No.: (713) 250-4294



or to such other address as such person may have furnished to the other persons identified in
this Section 8(c) in writing in accordance herewith.



(d) Approval of Holders. Whenever the consent or approval of Holders of a specified
percentage of Registrable Securities is required hereunder, Registrable Securities held by the
Company or its affiliates (as such term is defined in Rule 405 under the Securities Act) (other
than subsequent Holders of Registrable Securities if such subsequent Holders are deemed to be such
affiliates solely by reason of their holdings of such Registrable Securities) shall not be counted
in determining whether such consent or approval was given by the Holders of such required
percentage.



(e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and assigns of each of the parties and shall inure to the benefit of and be binding
upon each Holder of any Registrable Securities, including, without the need for an express
assignment or any consent by the Company thereto, subsequent Holders of Registrable Securities.



(f) Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be
original and all of which taken together shall constitute one and the same agreement.



(g) Headings. The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.



(h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.



(i) Severability. If any term, provision, covenant or restriction of this Agreement is held
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants
and restrictions set forth herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated thereby, and the parties hereto shall use their best efforts to
find and employ an alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction, it being intended that all of the
rights and privileges of the parties shall be enforceable to the fullest extent permitted by law.



(j) Entire Agreement. This Agreement is intended by the parties as a final expression of
their agreement and is intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein and the
registration rights granted by the Company with respect to the Registrable Securities. Except as
provided in the Placement Agency Agreement, there are no restrictions, promises, warranties or
undertakings, other than those set forth or referred to herein, with respect to the registration
rights granted by the Company with respect to the Registrable Securities. This Agreement supersedes
all prior agreements and undertakings among the parties with respect to such registration rights.
No party hereto shall have any rights, duties or obligations other than those specifically set
forth in this Agreement. In no event will such methods of distribution take the form of an
underwritten offering of the Registrable Securities without the prior agreement of the Company.



(k) Termination. This Agreement and the obligations of the parties hereunder shall terminate
upon the end of the Effectiveness Period, except for any liabilities or obligations under Section
4, 5 or 6 hereof and the obligations to make payments of and provide for liquidated damages under
Section 2(e) hereof to the extent such damages accrue prior to the end of the Effectiveness Period,
each of which shall remain in effect in accordance with its terms.



2



IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.



	 
	 

	ENDEAVOUR INTERNATIONAL CORPORATION

	 

	By:

	 

	Name:

	 

	Title:








Confirmed and accepted as of the date


first above written:



	 
	 

	J.P. MORGAN SECURITIES INC.

	 

	By:

	 

	Name:

	 

	Title:








	 
	 

	SANDERS MORRIS HARRIS INC.

	 

	By:

	 

	Name:

	 

	Title:









3