Harken Updates Gulf Coast Operations

Search Blogs that Mention this News Release
Click this link to view linked Bookmarking Services
Click this link to view linked Blogging Services
Harken Updates Gulf Coast Operations
    HOUSTON, Jan. 27 /PRNewswire-FirstCall/ -- Harken Energy Corporation
(Amex: HEC) ("Harken") provided today an update on the operations of its oil
and gas assets located in the onshore and offshore Gulf coast regions of Texas
and Louisiana.

    Lapeyrouse Field, Terrebonne Parish, Louisiana:
    The Thomas Cenac #1, initially drilled in 2001, was placed on compression
in the fourth quarter of 2003 and is now producing gross volumes of
approximately 1,000,000 cubic feet per day.  Harken holds a working interest
of approximately 28% in this producing well.
    During the fourth quarter of 2003, two exploitation wells were drilled in
the Lapeyrouse field.  The AM Dupont #2 was successfully drilled and
completed, and is now producing at an initial gross rate of approximately
3,600,000 cubic feet per day with 50 barrels of condensate, no water, and a
flowing tubing pressure of approximately 4,100 pounds per square inch ("psi").
The JC Dupont #2 well was also drilled and is currently undergoing completion.
Harken holds a working interest of approximately 10% in each of these wells.

    Raymondville Field, Willacy and Kenedy Counties, Texas:
    During the fourth quarter of 2003, Harken's development well, the Yturria
#3-26 was drilled to a depth of approximately 10,740 feet.  The Yturria #3-26
well began production this month with an initial gross rate of approximately
2,100,000 cubic feet per day with a flowing tubing pressure of approximately
2,950 psi.  Harken holds a working interest of approximately 27% in this new
well.  Over the past three years, Harken has participated in a drilling
success rate at Raymondville of approximately 96%, successfully completing 27
of 28 wells at Raymondville since the fall of 1999.

    Lake Raccourci Field, Lafourche Parish, Louisiana
    The State Lease 1480 #2 was successfully recompleted this month and is now
sustaining gross production of approximately 280 barrels of oil, and 265,000
cubic feet of gas per day, with a flowing tubing pressure of approximately
2,100 psi.  The recompletion increased current production from this well by
approximately 500% as compared to production immediately preceding the
recompletion.  Harken has an average working interest of approximately 40% in
this well.

    This announcement may contain forward-looking statements as defined by
federal law and regulations including those enacted 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 Annual Report on Form 10-K for the fiscal year ended December 31,
2002 filed with the Securities and Exchange Commission as well as other risks
described in the Form 10-Q filed for the period ending September 30, 2003.
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.
SOURCE Harken Energy Corporation
http://www.harkenenergy.com
CONTACT:
Investor Relations of Harken Energy
Corporation, +1-281-504-4000, or info@harkenenergy.com