|
|
| Harken Announces Repurchase of Convertible Notes |
HOUSTON, March 27 /PRNewswire-FirstCall/ -- Harken Energy Corporation (Amex: HEC) ("Harken") announced today that it has repurchased a total of $11,500,000 of its 5% Senior Convertible Notes ("5% Notes") at a purchase price of approximately $7,009,000. These repurchases reduce the outstanding balance of Harken's 5% Notes to approximately $14,110,000. Harken is continuing to pursue transactions to restructure or repurchase additional amounts of the 5% Notes in order to minimize the balance outstanding prior to the May 26, 2003 maturity date. Harken plans to redeem its 5% Notes for shares of Harken common stock on the maturity date. 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, number of authorized shares available and capital availability, discussed in detail in Harken's Form 10-K. Actual results may vary materially.SOURCE Harken Energy Corporation
back to topRelated links:
CONTACT:
Investor Relations of Harken Energy
Corporation, +1-281-504-4000, or info@harkenenergy.com
