XLON:ENDV Endeavour International Corp Insider Activity 3 Filing - 5/3/2012

Effective Date 5/3/2012

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FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  STEELHEAD PARTNERS LLC
2. Date of Event Requiring Statement (Month/Day/Year)
05/03/2012
3. Issuer Name and Ticker or Trading Symbol
ENDEAVOUR INTERNATIONAL CORP [END]
(Last)
(First)
(Middle)
333 108TH AVE. NE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See footnotes
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

BELLEVUE, WA 98004
6. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 4,712,115
I
See footnotes(1)(2)(3)(4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Convertible Bonds 07/19/2011 07/15/2016 Common Stock 270,095 $18.51 I See footnotes(1)(2)(3)(4)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
STEELHEAD PARTNERS LLC
333 108TH AVE. NE
BELLEVUE, WA 98004
      See footnotes
JOHNSTON JAMES MICHAEL
333 108TH AVE. NE
BELLEVUE, WA 98004
      See footnotes
KLEIN BRIAN KATZ
333 108TH AVE. NE
BELLEVUE, WA 98004
      See footnotes

Signatures

Steelhead Partners, LLC; By: Brent Binge, General Counsel; /s/ Brent Binge 05/10/2012
** Signature of Reporting Person Date

/s/ Brent Binge, Attorney-In-Fact for J. Michael Johnston 05/10/2012
** Signature of Reporting Person Date

/s/ Brent Binge, Attorney-In-Fact for Brian K. Klein 05/10/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reporting persons are: (i) Steelhead Partners, LLC ("Steelhead"), a registered investment advisor 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.
(2) 4,618,149 shares of common stock reported in Table I on this Form 3 and the 270,095 shares underlying the convertible bonds reported in Table II on this Form 3 are beneficially held by Steelhead Navigator Master, L.P. ("Steelhead Navigator"). The balance of the shares reported on this Form 3 is beneficially held by certain client accounts, none of which, other than Steelhead Navigator, is itself the beneficial owner of more than 10% of the issuer's common stock (collectively with Steelhead Navigator, the "Funds").
(3) Steelhead serves as the general partner and/or 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 3 filed concurrently herewith. Each of Steelhead, Mr. Johnston, Mr. Klein and the Funds expressly disclaims beneficial ownership in these securities, except to the extent of their respective pecuniary interests therein.
(4) Steelhead and the other reporting persons may be deemed to beneficially own the securities owned by the Funds insofar as they may be deemed to have the power to direct the voting or disposition of such securities. The reporting persons have elected therefore to file this Form 3 voluntarily to report the Funds' holdings on an aggregate basis, notwithstanding the reporting exemption applicable to registered investment advisors under Rule 16a-1(a)(1)(v) and to control persons under Rule 16a-1(a)(1)(vii). The filing of this Form 3 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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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XLON:ENDV Endeavour International Corp Insider Activity 3 Filling

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XLON:ENDV Endeavour International Corp Insider Activity 3 Filing - 5/3/2012
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