Harken Announces Stock Repurchase Plan

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Harken Announces Stock Repurchase Plan

    HOUSTON, April 3 /PRNewswire-FirstCall/ -- Harken Energy Corporation
(Amex: HEC) ("Harken") announced today that its Board of Directors has
approved a stock repurchase plan under which the Company may purchase shares
of common stock of the Company in the market from time to time up to a maximum
of 10,000,000 common shares.
    Harken's newly elected Chairman, Alan G. Quasha, stated, "Buybacks of
stock are long term propositions with sensible limitations placed on companies
by the SEC.  With this resolution, Harken's Board wants its shareholders to
know that it is concerned about the future dilution of their ownership.  The
Company has recently been able to buy back for cash approximately $11 million
of its approximately $25 million previously outstanding 5% debentures and,
subject to cash availability, would like to repurchase a significant portion
of the approximately $14 million remaining on similar terms, i.e.,
approximately 60 cents on the dollar."
    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