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| Harken's International Subsidiary Commences New Well in Colombia |
HOUSTON, Feb. 12 /PRNewswire-FirstCall/ -- Harken Energy Corporation (Amex: HEC) ("Harken") announced today that its international operating subsidiary, Global Energy Development PLC (London AIM Exchange: GED) ("Global"), began drilling operations for the Cajaro #1 well in the Llanos Basin of Colombia. The well is located on Global's 82,752-acre Cajaro Association Contract exploration block. Global expects that the well will take up to 25 days to drill and an additional 15 days to complete, if results are favorable. The Cajaro #1 has a projected drilling depth of approximately 9,200 feet and will target the Ubaque formation that is productive in Global's Estero #1 and Estero #2 wells in the Palo Blanco field within Global's Alcaravan Association Contract Block. Harken holds an 86% ownership of Global which owns interests in producing properties and prospects in Colombia and other countries in Latin America. 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, as amended. Actual results may vary materially.SOURCE Harken Energy Corporation
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