Harken Announces Results of Annual Meeting of Stockholders

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Harken Announces Results of Annual Meeting of Stockholders

    HOUSTON, Jan. 31 /PRNewswire-FirstCall/ -- Stockholders of Harken Energy
Corporation (Amex: HEC) ("Harken"), at their annual meeting held on Wednesday,
January 29, 2003, approved a $10 million rights offering, the redemption of up
to $20 million in principal amount of Harken's 5% Senior Convertible Notes due
May 2003 for shares of Harken common stock, and the re-election of Marvin M.
Chronister, James H. Frizell and Stephen C. Voss to Harken's Board of
Directors.
    Mikel D. Faulkner, Harken's Chairman, stated "Stockholder approval of the
$10 million rights offering and the potential redemption of up to $20 million
of Harken's 5% Senior Convertible Notes will provide the Company additional
capital and flexibility to continue its capital plan and reduce its
convertible debt which matures later in 2003."
    Based in Houston, Texas, Harken is an oil and gas exploration and
production company whose corporate strategy calls for concentrating its
resources on exploration and development of its domestic properties in the
Gulf Coast regions of Texas and Louisiana.
    Certain statements in this news release regarding future expectations and
plans may be regarded as "forward looking statements" within the meaning of
the Securities Litigation Reform Act.  They are subject to various risks, such
as the inherent uncertainties in interpreting engineering data related to
underground accumulations of oil and gas, timing and capital availability,
discussed in detail in Harken's SEC filings, including the Annual Report on
Form 10-K.  Actual results may vary materially.

SOURCE Harken Energy Corporation

http://www.harkenenergy.com
CONTACT:
Investor Relations of Harken Energy
Corporation, +1-281-504-4000, or info@harkenenergy.com