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| Harken's International Subsidiary Commissions Canacabare Pipeline in Colombia |
HOUSTON, March 28 /PRNewswire-FirstCall/ -- Harken Energy Corporation (Amex: HEC) ("Harken") announced today that its international operating subsidiary, Global Energy Development PLC (London AIM Exchange: GED) ("Global"), has commissioned the operation of its Canacabare pipeline system located in Global's Alcaravan Association Contract block in the Llanos Basin of Eastern Colombia. Global constructed 26 kms of new pipeline connecting its Canacabare #1 well with Global's existing Palo Blanco pipeline system also located in Alcaravan. Oil production from the Canacabare well will be transported through this new pipeline system to Palo Blanco where it will be processed, blended with other production from Global's Estero #1 and Estero #2 wells and then sold to Ecopetrol, the state oil company of Colombia. The addition of the Canacabare crude will increase Global's production in Colombia by approximately 35%. 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, 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
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