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Gold/Mining/Energy : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (4574)	9/23/1999 12:01:00 PM
From: art slott	Respond to of 5504

IFC loans Harken $55M for Colombia oil project MIAMI, Sept 1 (Reuters) - The World Bank's International Finance Corporation (IFC) said Wednesday it has signed an agreement to invest $55 million in Harken de Colombia, a subsidiary of Houston-based Harken Energy Corp. (AMEX: HEC), to develop four oilfields in Colombia. The loan will finance the first stage of development of the Bolivar Block in the Middle Magdelena Valley, including drilling nine wells and constructing facilities and pipelines to produce up to 30,000 barrels per day, an IFC statement said. The oil will be exported by way of Covenas port on Colombia's Caribbean coast. IFC financing for the $158 million project consists of loans totaling $35 million for its own account and a syndicated loan of $25 million. It is Harken's first major development of its Colombian interests. All Headlines Additional Headlines RTR 09/23 09:01 RESEARCH ALERT -