Harken Announces Closing of Standby Purchase in Connection With Rights Offering

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Harken Announces Closing of Standby Purchase in Connection With Rights Offering

    HOUSTON, March 20 /PRNewswire-FirstCall/ -- Harken Energy Corporation
(Amex: HEC) ("Harken") announced today the closing of the Standby Purchase
Agreement with Lyford Investments Enterprises, Ltd. ("Lyford"), which related
to Harken's recently completed rights offering.
    At the closing of the Standby Purchase Agreement, Lyford purchased
59,716,227 shares of common stock from Harken for an aggregate purchase price
of approximately $8,193,000.  This transaction resulted in Lyford becoming a
holder of approximately 62% of Harken's outstanding common stock.
    Based in Houston, Texas, Harken is an oil and gas exploration and
production company whose corporate strategy calls for concentrating its
resources on exploration, development and acquisition of 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,
including uncertainties regarding timing and capital availability, discussed
in detail in Harken's SEC filings.  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