X0306 4 2014-01-22 1 0001112412 ENDEAVOUR INTERNATIONAL CORP END 0001133521 STEELHEAD PARTNERS LLC 333 108TH AVENUE NE SUITE 2010 BELLEVUE WA 98004 0 0 0 1 See footnotes 0001327721 JOHNSTON JAMES MICHAEL 333 108TH AVENUE NE SUITE 2010 BELLEVUE WA 98004 0 0 0 1 See footnotes 0001327722 KLEIN BRIAN KATZ 333 108TH AVENUE NE SUITE 2010 BELLEVUE WA 98004 0 0 0 1 See footnotes Common Stock 2014-02-26 4 S 0 1375122 4.9615 D 4744891 I See footnotes Common Stock 2014-02-26 4 S 0 98223 5.20 D 4646668 I See footnotes Common Stock 2014-02-26 4 S 0 23083 5.4252 D 4623585 I See footnotes Common Stock 2014-02-27 4 S 0 200 5.2605 D 4623385 I See footnotes Common Stock 2014-02-27 4 S 0 246000 5.081 D 4377385 I See footnotes Common Stock 2014-02-27 4 S 0 16000 5.0338 D 4361385 I See footnotes Common Stock 2014-02-27 4 S 0 51000 5.1161 D 4310385 I See footnotes Common Stock 2014-02-28 4 S 0 32600 5.1149 D 4277785 I See footnotes Call Option (Obligation to Sell) 7.50 2014-01-22 4 S 0 250 42.50 D 2014-01-22 2014-03-22 Common Stock 25000 250 I See footnotes Call Option (Obligation to Sell) 7.50 2014-01-22 4 S 0 250 85 D 2014-01-22 2014-06-21 Common Stock 25000 250 I See footnotes The reporting persons are: (i) Steelhead Partners, LLC ("Steelhead"), a registered investment adviser within the meaning of Rule 16a-1(a)(1)(v) under the Securities Exchange Act of 1934; and (ii) each of James Michael Johnston and Brian Katz Klein, Steelhead's member-managers. 4,267,785 shares of common stock reported on this Form 4 are beneficially held by Steelhead Navigator Master, L.P. ("Steelhead Navigator"). The balance of the shares reported on this Form 4 is beneficially held by another investment limited partnership, which itself is not the beneficial owner of more than 10% of the issuer's common stock (this investment limited partnership together with Steelhead Navigator, the "Funds"). Steelhead serves as the investment manager of the Funds. As a greater than 10% beneficial owner, Steelhead Navigator is separately reporting its holdings in the issuer's securities on a Form 4 filed concurrently herewith. Steelhead and the other reporting persons may be deemed to have a pecuniary interest in the securities owned by the Funds insofar as Steelhead is the general partner (or sole owner of the general partner) of the Funds. The reporting persons have elected therefore to file this Form 4 voluntarily to report these holdings, notwithstanding the reporting exemption applicable to registered investment advisers under Rule 16a-1(a)(1)(v) and to control persons under Rule 16a-1(a)(1)(vii). The filing of this Form 4 should not, however, be deemed an admission by any of the reporting persons that such person falls outside the scope of the foregoing exemptions, or that the reporting persons and/or the Funds form a group within the meaning of Rule 16a-1(a)(1). Each of Steelhead, Mr. Johnston, Mr. Klein and Steelhead Navigator expressly disclaims beneficial ownership in these securities, except to the extent of their respective pecuniary interests therein. On previous Form 4 filings made by Steelhead and the other reporting persons, the holdings of a certain separate account over which Steelhead has investment discretion, but not voting power, had been included; however, Steelhead has determined that, beginning with this filing, it will no longer be reporting holdings or transactions for this separate account because Steelhead and the other reporting persons do not have a direct or indirect pecuniary interest in the separate account. As a result, the "Amount of Securities Beneficially Owned" (column 5) has been reduced by the number of securities that were held by the separate account as reported by the reporting persons in their previous Form 4 filing. As a result of revised analysis, the writing of these call options is being reported after the filing deadline. STEELHEAD PARTNERS, LLC, By: /s/ Brent E. Binge, Brent E. Binge, General Counsel 2014-02-28 JAMES MICHAEL JOHNSTON, By: /s/ Brent E. Binge, Brent E. Binge, General Counsel 2014-02-28 BRIAN KATZ KLEIN, By: /s/ Brent E. Binge, Brent E. Binge, General Counsel 2014-02-28