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

To: Rod Copeland who wrote (5270)	2/2/2001 1:02:46 PM
From: Razorbak	Respond to of 5504

"Harken Gives Operations Update" Friday February 2, 10:56 am Eastern Time Press Release SOURCE: Harken Energy Corporation HOUSTON, Feb. 2 /PRNewswire/ -- Harken Energy Corporation (Amex: HEC - news) offered the following update on its domestic and international drilling operations: State Lease 1480 #2. The previously announced State Lease 1480 #2 well, in Lafourche Parish, Louisiana has been hooked up to the sales pipeline. Initial rates are being limited as performance is monitored to determine the optimum producing range. Current gross production is 255 barrels of oil and 1,000 mcf of gas per day, with a flowing tubing pressure of 3,750 psi. Rates should increase after well evaluation is completed. Thomas Cenac #1. Thomas Cenac #1 wildcat well in Terrebonne Parish, Louisiana has been drilled to a total depth of 16,834 feet. Completion operations are in progress with perforations planned in the Duval formation. Estero #2. The Estero #2 well operations continue on the Company's 102,000 acre Alcaravan Association Contract block in the Llanos basin in Colombia. The well is currently at approximately 7,555 feet and drilling operations are progressing normally to the projected depth of 8,700 feet. Olivo #2. The Olivo #2 well, on Harken's 250,000 acre Bolivar Association Contract block in Colombia, has reached total depth at 5,822 feet. The Company has logged the well and taken several core samples. The well is currently being completed for a short-term production test. Laurel #1. The Company is also testing and stimulating the Bolivar Block's previously drilled Laurel #1 well in the La Luna formation. Stimulation procedures on this well are also being evaluated to determine applicability to other Bolivar contract area operations. Bolivar Flowline. The Bolivar oil flowline is nearing completion and should be ready to commence operations in early March. Construction was slowed due to heavy equipment transportation restrictions imposed by the Colombian Ministry of Transport during the Christmas holiday season. Manantial #1. Harken has plugged the Manantial #1 well on its 41,000 acre Cambulos Association Contract exploration block in the Middle Magdalena Valley in Colombia. The well reached total depth and had encouraging oil shows, but the Hoyon formation was not commercially productive. Harken Energy Corporation (``Harken'') explores for, develops and produces oil and gas reserves domestically and internationally. Certain statements in this news release regarding future expectations and plans for oil and gas exploration and development may be regarded as ``forward looking statements'' within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as the inherent uncertainties in interpreting engineering data related to underground accumulations of oil and gas, timing and capital availability, discussed in detail in the Company's SEC filings, including the Annual Report on Forms 10-K and 10-K/A. Actual results may vary materially. SOURCE: Harken Energy Corporation biz.yahoo.com