Endeavour revealed on Wednesday it hadagreed to pay SM Energy $5 million and issue a note for $4.5 million which willbe paid in three graduated payments beginning in twelve months. It also agreedto issue warrants valued at $3.75 million.
This takes the total settlement expense tobe recorded by Endeavour to $19.25 million, which includes deposits of $6million paid prior to the settlement agreements.
The
