<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report JUNE 2, 1995
HARKEN ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
DELAWARE 0-9207 95-2841597
- ------------------------------------------------------------------------------------------------------------
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification No.)
incorporation or organization)
5605 N. MacArthur Blvd, Suite 400, Irving, Texas 75038
- ------------------------------------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (214)753-6900
- ------------------------------------------------------------------------------------------------------------
N/A
- ------------------------------------------------------------------------------------------------------------
(Former Name or Former Address, if changed Since Last Report)
</TABLE>
<PAGE> 2
Item 1. N/A
Item 2. Acquisition of Search Exploration, Inc. Harken Energy Corporation
announced that the proposed merger with Search Exploration, Inc.
("Search") was formally completed and closed as of May 22, 1995. This
merger was approved by a majority of the Search stockholders at their
special meeting held May 22, 1995 in Dallas.
Search is primarily engaged in the domestic exploration for, and
development and production of oil and gas reserves. Pursuant to the
Merger Agreement, signed in November 1994, (a) each outstanding share
of Search common stock was converted into the right to receive that
number of shares of Harken common stock determined by dividing $0.8099
by the average of the closing sales price of a share of Harken common
stock on the American Stock Exchange over the 30 days immediately
preceding the date that is five trading days prior to the consummation
of the merger, subject to certain restrictions ("the Average Trading
Price"); (b) each outstanding share of Search Series 1993 Redeemable
Preferred Stock was converted into the right to receive that number of
shares of Harken common stock determined by dividing $1.00 by the
Average Trading Price and (c) certain promissory notes to be issued by
Search were, by their terms, converted into the right to receive that
number of shares of Harken common stock determined by dividing the
principal amount of each note by the Average Trading Price. In
addition, the holders of Search common stock, certain notes and
overriding royalty interests in certain properties of Search received
a non-transferable right to receive additional shares in the future,
if any, of Harken common stock or, under certain circumstances, cash,
based upon the increase that may subsequently be realized in the value
of a group of undeveloped leases and properties of Search. The
Registration Statement covering the shares of Harken common stock to
be issued pursuant to the merger with Search was approved by the
Securities and Exchange Commission in April 1995. The merger with
Search will be accounted for under the purchase method of accounting.
As of December 31, 1994, Search had proved reserves of approximately
19,000 barrels of oil and 1,298,000 mcf of gas with a net present
value of approximately $1,513,000 and had gross revenue interests in
42 productive wells, none of which were operated by Search.
Item 3. N/A
Item 4. N/A
Item 5. N/A
Item 6. N/A
Item 7. (a.) Financial Statements and Pro Forma Financial Information.
Audited financial statements of Search Exploration, Inc., along with
pro forma financial statements of Harken reflecting the acquisition,
are included in Appendices H and G, respectively, of the Form S-4, as
amended, which was filed April 12, 1995 and which is incorporated by
reference.
(b.) Exhibit. Form S-4 Registration Statement No. 33-58265, as
amended, as filed on April 12, 1995 with the Securities and Exchange
Commission.
Item 8. N/A
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Harken Energy Corporation
----------------------------------------
(Registrant)
Date: June 2, 19955 /s/ Bruce N. Huff
----------------------------------------
Bruce N. Huff, Senior Vice President
and Chief Financial Officer
