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

To: Richard Mazzarella who wrote (5468)	3/20/2003 1:41:14 PM
From: Findit	Respond to of 5504

News on the completion of the rights offering just came out. HOUSTON, Mar 20, 2003 /PRNewswire-FirstCall via COMTEX/ -- Harken Energy Corporation (Amex: HEC) ("Harken") announced today the closing of the Standby Purchase Agreement with Lyford Investments Enterprises, Ltd. ("Lyford"), which related to Harken's recently completed rights offering. At the closing of the Standby Purchase Agreement, Lyford purchased 59,716,227 shares of common stock from Harken for an aggregate purchase price of approximately $8,193,000. This transaction resulted in Lyford becoming a holder of approximately 62% of Harken's outstanding common stock. 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 Investor Relations of Harken Energy Corporation, +1-281-504-4000, or info@harkenenergy.com harkenenergy.com Copyright (C) 2003 PR Newswire. All rights reserved. NewsProvided by COMTEX, comtex.com