Harken Energy Subsidiary Commences Drilling Estero #5 Well in Colombia
07 October 2004 - 9:00PM
PR Newswire (US)
Harken Energy Subsidiary Commences Drilling Estero #5 Well in
Colombia DALLAS, Oct. 7 /PRNewswire-FirstCall/ -- Harken Energy
Corporation (AMEX:HEC) through its 85% owned subsidiary, Global
Energy Development PLC, provides the following update on drilling
activity in Colombia, South America: Drilling operations have
commenced on the Estero #5 well, located in the Llanos basin of
Colombia, South America. The Estero #5 is a development well in the
Palo Blanco field. The well is expected to take up to 35 days to
drill and an additional 15 days to complete, should drilling
results be favorable. The Estero #5 well has a projected drilling
depth of approximately 9,000 feet and will target the Traditional
Ubaque, Massive Ubaque and Mirador formations. The Estero #5 well
is the first of approximately nine wells currently scheduled to be
drilled and or completed within the next 12 months in Global's Palo
Blanco field and Global's new Rio Verde Contract acreage. 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. This announcement
may contain forward-looking statements as defined by the Securities
and Exchange Commission. Harken, however, believes that it is
important to provide this operations update and communicate its
future expectations to its stockholders. The forward-looking
statements in this announcement reflect the current view of
management with regard to future events and 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. These risks, uncertainties and other factors include,
among others, the risks described in Harken's filings with the
Securities and Exchange Commission including the Annual Report on
Form 10-K for the fiscal year ended December 31, 2003 filed on
March 26, 2004 and its Form 10-Q for the quarter ended June 30,
2004 filed on August 12, 2004. Statements regarding future
production are subject to all of the risk and uncertainties
normally associated with exploration, development and production of
oil and gas. These risks include, without limitation, variability
in the price received for oil and gas production, lack of
availability of oil field goods and services, environmental risks,
drilling and production risk, risk related to offshore operations,
and regulatory changes. Investors are cautioned that any such
statements are not guarantees of future performance and that actual
results or developments may differ materially from those projected
in the forward-looking statements. 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. For further information,
please contact Bevo Beaven, Vice President, , or Bill Conboy,
Senior Account Executive, , both of CTA Public Relations,
+1-303-665-4200, for Harken Energy Corporation. 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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