HEC Harken Energy Corp

Harken Energy Commences Seismic Data Study for Rio Verde Contract in Colombia Cumulative Production on Rio Verde Contract 48,000 Barrels to Date DALLAS, May 23 /PRNewswire-FirstCall/ -- Harken Energy Corporation (AMEX:HEC) announced its 70% owned subsidiary, Global Energy Development PLC (Global), has commenced work to acquire approximately 56 kilometers of new 2D seismic within its Rio Verde Exploration and Production Contract in Colombia. The seismic is being acquired around the two producing wells located on the Rio Verde acreage, the Tilodiran #1 and Macarenas #1, in order to evaluate and then proceed with the drilling of additional wells within the contract area. In addition, a proportion of the seismic is being acquired elsewhere in the contract area to consider future exploratory wells. The new seismic will be processed alongside with the reprocessing of 300 kilometers of existing seismic as required under the terms of the contract. "The company is very pleased with the progress made in the Rio Verde Contract," said Stephen Voss, Managing Director of Global. "The Tilodiran #1 and Macarenas #1 were rapidly brought on to production following the contract signing in September last year and have had good ongoing performance." Cumulative production to date from Tilodiran #1 and Macarenas #1, which commenced in December 2004 and January 2005 respectively, is approximately 48,000 barrels. "The new seismic data will enable Global to select optimum locations for further drilling in Rio Verde and we hope to be able to commence the drilling of Tilodiran #2, before the end of 2005," said Voss. Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries. Additional information may be found at the Harken Energy Web site, http://www.harkenenergy.com/, or by calling Bevo Beaven or Bill Conboy at CTA Public Relations at (303) 665-4200. Certain statements in this announcement including statements regarding future expectations, objectives, intentions and plans for oil and gas exploration, development and production may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, 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. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-K/A dated April 13, 2005 and quarterly report on Form 10-Q dated May 10, 2005. Harken undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially. Contact: Bevo Beaven, Vice President Bill Conboy, Senior Account Executive CTA Public Relations 303-665-4200 DATASOURCE: Harken Energy Corporation CONTACT: Bevo Beaven, Vice President, , or Bill Conboy, Senior Account Executive, , both of CTA Public Relations, +1-303-665-4200 Web site: http://www.harkenenergy.com/

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