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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:
April 27, 1995
HARKEN ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-9297 95-2841597
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation
MacArthur Center II, Suite 400
5605 N. MacArthur Boulevard
Irving, Texas 75038
(Address of Principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 753-6900
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ITEM 5. Other Events
The press release dated April 24, 1995, attached to this Report as
Exhibit 99.1 is incorporated herein by reference.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
HARKEN ENERGY CORPORATION
/s/ LARRY E. CUMMINGS
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Larry E. Cummings, Vice President,
Secretary and General Counsel
Date: April 27, 1995
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Description
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<S> <C>
99.1 Press Release dated April 24, 1995
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[HARKEN LETTERHEAD]
HARKEN
ENERGY
NEWS RELEASE CORPORATION
For Further Information 214-753-6900
FOR IMMEDIATE RELEASE
HARKEN ANNOUNCES RESULTS ON WELL IN COLOMBIA
Dallas Texas--(April 24, 1995)--Harken Energy Corporation ("Harken")
(AMEX: "HEC") announced today that its Alcaravan #1 well in the Llanos Basin of
Colombia failed to produce commercial quantities of oil. As weather conditions
permit, the well will be plugged and abandoned.
After experiencing delays due to unseasonal rain, the Company set 7"
production casing to the total depth drilled of 10,550 feet. Harken completed
production tests of the Lower Gacheta formation through perforations from
10,197 to 10,212 feet and the deeper Ubaque formation encountered from 10,290
to 10,520 feet. Although open-hole tests were encouraging neither formation
proved commercial in production tests.
The Company's partner in this well, Huffco, has elected to not
participate in the further development of this acreage; therefore, Harken will
seek a new partner for the continued development of the Alcaravan acreage.
The Company is continuing its seismic acquisition and reprocessing
efforts on additional identified prospects on the Alcaravan acreage and the
Playero acreage in the Llanos Basin, as well as on the Bocachico acreage in the
Middle Magdelena Basin.
As previously announced, the Company plans to drill the Rio Negro
prospect (Bocachico acreage) during the summer and an additional prospect on the
Alcaravan or the Playero acreage (or both) around year-end.
Harken's Chairman, Mikel D. Faulkner, stated, "We are disappointed by
our failure to establish commercial production with this well." Commenting
further, Mr. Faulkner said, "We continue to be enthusiastic about our
prospective acreage position in Colombia and look forward to hopefully drilling
a number of wells per year over the next few years in what is rapidly becoming
recognized as a country having several of the premier exploration basins in the
Western Hemisphere."
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Harken Energy Corporation ("Harken") (AMEX: "HEC") explores for, develops and
produces oil all and gas reserves domestically and Internationally. The Company
currently controls acreage in Colombia and offshore Bahrain and is active in
the Paradox Basin in Utah.
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