Harken Energy Acquires Second Coalbed Methane Prospect

Harken Energy Acquires Second Coalbed Methane Prospect 


DALLAS, March 29  /PRNewswire-FirstCall/ -- Harken Energy Corporation
(AMEX:HEC) announced today that its wholly owned subsidiary, Gulf Energy
Management Company, has entered into an Exploration and Development Agreement
with Ohio Cumberland L.P., a Texas limited partnership, for the joint
exploration and development of coalbed methane within the Cumberland Prospect
Area consisting of approximately 400,000 acres in Guernsey, Noble, Muskingum,
Washington and Morgan counties of Ohio.  Harken Energy announced on March 23,
2005, that it had entered into a similar agreement for a 400,000 acre coalbed
methane prospect located in Indiana.  Today's announcement marks the second
major acquisition of coalbed methane prospect acreage in 2005 for Harken
Energy, bringing its total coalbed methane prospect portfolio to approximately
800,000 acres.

Gulf Energy Management's obligations under this new agreement include funding
100% of the initial $7.5 million of costs to carry out the joint exploration
and development of the project in return for a 65% working interest in the
Cumberland Prospect Area.  The agreement also provides that Gulf Energy
Management receive an 82.5% net revenue interest.  Gulf Energy Management's
funding obligation is to be allocated among three separate technical phases of
the project. At the conclusion of each of the first two phases, Gulf Energy
Management may elect to terminate the agreement, thereby reducing its
commitments.  Complete details of the agreement may be found in the Form 8-K
filed today with the Securities and Exchange Commission.

"The acquisition in the Cumberland Prospect Area along with the recently
acquired Indiana Posey Prospect Area provide Gulf Energy Management with a
strong platform to optimize opportunities available in coalbed methane," said
Jim Denny, President of Gulf Energy Management.  "These opportunities together
with our existing oil and gas holdings located along the Texas and Louisiana
Gulf Coast should allow Gulf Energy Management to continue with its growth
strategy objectives."

Harken Energy Corporation is engaged in oil and gas exploration, development
and production operations both domestically and internationally through its
various subsidiaries.  Additional information may be found at the Harken Energy
Web site, http://www.harkenenergy.com/, or by calling Bevo Beaven or Bill
Conboy at CTA Public Relations at [phone].

Certain statements in this announcement including statements about our plans,
objectives, intentions, and expectations are "forward-looking statements"
within the meaning of the Securities Exchange Act of 1934, as amended. 
Forward-looking statements are based on the opinions and estimates of
management at the time the statements are made and are subject to known and
unknown risks and uncertainties and inaccurate assumptions that could cause
actual results to differ materially from those expected or implied by the
forward-looking statements.  Harken's actual results could differ materially
from those anticipated in the forward-looking statements for many reasons,
including the risk that additional "material weaknesses," as disclosed in the
Form 8-K filed by Harken on March 18, 2005, or other internal control
deficiencies with the meaning of Section 404 of the Sarbanes-Oxley Act of 2002
are identified, and the risk that additional accounting errors may be
identified.  Readers are cautioned not to place undue reliance upon these
forward-looking statements, which speak only as the date hereof.

For further information please contact: Bevo Beaven, Vice President, , or Bill
Conboy, Senior Account Executive, , both of CTA Public Relations,
[phone], for Harken Energy Corporation 

DATASOURCE: Harken Energy Corporation



CONTACT:  Bevo Beaven, Vice President, , or Bill Conboy,

Senior Account Executive, , both of CTA Public Relations,

[phone], for Harken Energy Corporation



Web site:  http://www.harkenenergy.com/ 

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