Harken Energy Commences Seismic Data Study for Rio Verde Contract in Colombia
May 23 2005 - 1:58PM
PR Newswire (US)
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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