Harken (AMEX:HEC)
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Harken Energy Subsidiary Commences Drilling Estero #5 Well in
Colombia
DALLAS, Oct. 7 /PRNewswire-FirstCall/ -- Harken Energy Corporation (AMEX:HEC)
through its 85% owned subsidiary, Global Energy Development PLC, provides the
following update on drilling activity in Colombia, South America:
Drilling operations have commenced on the Estero #5 well, located in the Llanos
basin of Colombia, South America. The Estero #5 is a development well in the
Palo Blanco field. The well is expected to take up to 35 days to drill and an
additional 15 days to complete, should drilling results be favorable. The
Estero #5 well has a projected drilling depth of approximately 9,000 feet and
will target the Traditional Ubaque, Massive Ubaque and Mirador formations.
The Estero #5 well is the first of approximately nine wells currently scheduled
to be drilled and or completed within the next 12 months in Global's Palo
Blanco field and Global's new Rio Verde Contract acreage.
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.
This announcement may contain forward-looking statements as defined by the
Securities and Exchange Commission. Harken, however, believes that it is
important to provide this operations update and communicate its future
expectations to its stockholders. The forward-looking statements in this
announcement reflect the current view of management with regard to future
events and 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. These risks, uncertainties and other factors
include, among others, the risks described in Harken's filings with the
Securities and Exchange Commission including the Annual Report on Form 10-K for
the fiscal year ended December 31, 2003 filed on March 26, 2004 and its Form
10-Q for the quarter ended June 30, 2004 filed on August 12, 2004. Statements
regarding future production are subject to all of the risk and uncertainties
normally associated with exploration, development and production of oil and
gas. These risks include, without limitation, variability in the price
received for oil and gas production, lack of availability of oil field goods
and services, environmental risks, drilling and production risk, risk related
to offshore operations, and regulatory changes. Investors are cautioned that
any such statements are not guarantees of future performance and that actual
results or developments may differ materially from those projected in the
forward-looking statements. 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.
For further information, please contact Bevo Beaven, Vice President, , or Bill
Conboy, Senior Account Executive, , both of CTA Public Relations,
+1-303-665-4200, for Harken Energy Corporation.
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/