Harken Energy Raises $2.8 Million Through Sale of Global Energy Shares to Institutional Investors
June 20 2005 - 7:11PM
PR Newswire (US)
Harken Energy Raises $2.8 Million Through Sale of Global Energy
Shares to Institutional Investors DALLAS, June 20
/PRNewswire-FirstCall/ -- Harken Energy Corporation (AMEX:HEC)
negotiated and closed the sale of 900,000 shares from its existing
holdings in subsidiary Global Energy Development PLC, raising
approximately $2.8 million in new capital for Harken Energy. The
sale of Harken's Global Energy Development shares included sales to
certain institutional investors and was conducted through private
sales at market prices. As a result of this transaction Harken
Energy now holds 23,250,516 shares or approximately 66.52% of
Global Energy Development. 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. 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. 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, for Harken Energy
Corporation Web site: http://www.harkenenergy.com/
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