Harken (AMEX:HEC)
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Harken Energy Raises $8.4 Million Through Sale of Global Energy
Shares to an Institutional Investor
DALLAS, April 14 /PRNewswire-FirstCall/ -- Harken Energy Corporation
(AMEX:HEC) negotiated and closed the sale of 2,812,716 shares from its existing
holdings in subsidiary Global Energy Development PLC, raising $8.4 million in
new capital for Harken Energy. This sale of Harken's Global Energy Development
shares to an institutional investor was conducted through a private sale at
market prices. As a result of this transaction Harken Energy now holds
21,037,213 shares or 74.79% of Global Energy Development.
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 (303) 665-4200.
Certain statements in this announcement including statements regarding future
expectations, objectives, intentions and plans for oil and gas exploration,
development and production may be regarded as "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. Management's current view and
plans, however, are subject to numerous known and unknown risks, uncertainties
and other factors that may cause the actual results, performance, timing or
achievements of Harken to be materially different from any results,
performance, timing or achievements expressed or implied by such
forward-looking statements. The various uncertainties, variables, and other
risks include those discussed in detail in the Company's SEC filings, including
the Annual Report on Form 10-K/A dated April 13, 2005. Although Harken
believes that the expectations reflected in the forward-looking statements of
this announcement are reasonable, it can give no assurance that such
expectations will prove to be correct or that unforeseen developments will not
occur. Harken undertakes no duty to update or revise any forward-looking
statements. Actual results may vary materially.
Contact:
Bevo Beaven, Vice President
Bill Conboy, Senior Account Executive
CTA Public Relations
303-665-4200
DATASOURCE: Harken Energy Corporation
CONTACT: Bevo Beaven, Vice President, , or Bill Conboy,
Senior Account Executive, , both of CTA Public Relations,
+1-303-665-4200, for Harken Energy Corporation
Web site: http://www.harkenenergy.com/