Harken Provides Update on Drilling Activity

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Harken Provides Update on Drilling Activity
    HOUSTON, April 1 /PRNewswire-FirstCall/ -- Harken Energy Corporation
(Amex: HEC) ("Harken") is providing an update on the following domestic Gulf
Coast drilling activity:
    In the onshore and offshore Gulf Coast regions of Texas and Louisiana,
Harken is pleased to report that all of its drilling and completing efforts in
the first quarter of 2004 have been successful.

     Lake Raccourci Field, Lafourche Parish, Louisiana
     -- State Lease 14284 #1 Well
        - Recent recompletion was successful
        - Current gross production rates have increased to 4,650,000 cubic
           feet per day with 42 Barrels per day condensate, flowing with
           2,635 pounds per square inch
     -- State Lease 1480 #2 Well
        - Previously reported recompletion remains successful
        - Current gross production rates are still approximately 200 Barrels
           of oil per day, 200,000 cubic feet per day associated gas, flowing
           with about 1,500 pounds per square inch

    Harken holds a 40% operated working interest in each of these wells.  With
these successful recompletions, production rates for the Lake Raccourci Field
have more than doubled.

     Raymondville Field, Willacy and Kenedy Counties, Gulf Coast Region, Texas
     -- Yturria #4-1 Well
        - Has been completed, and stimulated by a frac operation
        - Initial well performance test results last week indicated initial
           gross production rate of over 3,000,000 cubic feet per day gas
        - A vertically drilled well with an interval depth of over
           12,000 feet
     -- Yturria #3-27 Well
        - Drilled to a total depth of 8,850 feet measured depth, 8,456 feet
           true vertical depth
        - Now attempting completion; expect to have well on production in
           next 30 days

    Harken holds a non-operated 27% interest in each of these Raymondville
Field wells.

     Lapeyrouse Field, Louisiana
     -- Harken has participated in two additional wells since our last press
        release.  Both wells have been successfully completed and are now on
        production.   Total current gross production from these two wells and
        the previously reported AM Dupont #2 well is 11,100,000 cubic feet
        per day gas, and 120 barrels per day condensate.

     Harken holds a non-operated 10% interest in each of these wells.

    Chairman's Comment
    Harken's Chairman, Mr. Alan G. Quasha commented, "I am very pleased with
the preliminary indications of success.  At the rates these wells are
currently producing, they are likely to have an important impact on the
Company's revenues this year.  What may have been obscured by Harken's 2003
capital restructuring plan is Harken's track record for finding oil and gas by
its domestic team.  Excluding the first quarter of 2004 activity, which is
likely to improve this average, over the past three years the domestic team
has compiled an excellent track record, participating in 24 successful
completions out of 33 wells and averaging a finding cost of approximately
$1.00 per thousand cubic feet equivalent gas.  We are delighted to see this
track record continuing."
    Mr. Quasha continued, "As we stated before, our capital expenditure budget
for the year is approximately $18 million, all of which we expect to fund from
cash on hand and cash from our operating activities.  Based upon our drilling
for the first quarter, we are on budget."

    This announcement may contain forward-looking statements as defined by the
Securities and Exchange Commission.  Harken, however, believes that it is
important to provide this operations update and communicate its future
expectations to its stockholders.  The forward-looking statements in this
announcement reflect the current view of management with regard to future
events and are subject to numerous known and unknown risks, uncertainties and
other factors that may cause the actual results, performance, timing or
achievements of Harken to be materially different from any results,
performance, timing or achievements expressed or implied by such forward-
looking statements.  These risks, uncertainties and other factors include,
among others, the risks described in Harken's filings with the Securities and
Exchange Commission including the Annual Report on Form 10-K for the fiscal
year ended December 31, 2003 filed on March 26, 2004.  Statements regarding
future production are subject to all of the risk and uncertainties normally
associated with exploration, development and production of oil and gas.  These
risks include, without limitation, variability in the price received for oil
and gas production, lack of availability of oil field goods and services,
environmental risks, drilling and production risk, risk related to offshore
operations, and regulatory changes.  Investors are cautioned that any such
statements are not guarantees of future performance and that actual results or
developments may differ materially from those projected in the forward-looking
statements.  Although Harken believes that the expectations reflected in the
forward-looking statements of this announcement are reasonable, it can give no
assurance that such expectations will prove to be correct or that unforeseen
developments will not occur.  Harken undertakes no duty to update or revise
any forward-looking statements.
SOURCE Harken Energy Corporation
http://www.harkenenergy.com
CONTACT:
Investor Relations of Harken Energy
Corporation, +1-281-504-4000, or info@harkenenergy.com