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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 6, 1997
HARKEN ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 0-9207 95-2841597
(State or other jurisdiction of (Commission File (IRS Employer
incorporation) Number) Identification No.)
5605 N. MACARTHUR BLVD, SUITE 400 75038
IRVING, TEXAS (ZIP Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (972) 753-6900
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ITEM 5. OTHER EVENTS
On June 11, 1997, Harken Energy Corporation closed the sale of
$70,000,000 in Convertible Notes in Europe. These Notes bear interest at 5.5%
annually until maturity in the year 2002, unless earlier redeemed or converted.
These Notes are convertible under certain conditions into shares of Harken
common stock at a conversion price of $5.00 per share based on its pricing
which was set on June 3rd. These Securities have not been registered and
cannot be offered or sold in the U.S.
A press release dated June 6, 1997, attached to this report as Exhibit
99.1 is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of businesses acquired.
None.
(b) Pro forma financial information.
None.
(c) Exhibits.
Exhibit
Number Description
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99.1 -- Press Release dated June 6, 1997.
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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 hereunto duly authorized.
HARKEN ENERGY CORPORATION
Date: June 11, 1997 By: /s/ Bruce N. Huff
--------------------------------
Bruce N. Huff,
Senior Vice President and
Chief Financial Officer
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INDEX TO EXHIBITS
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Sequentially
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Exhibit No. Exhibit Page
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99.1 Press Release dated June 6, 1997
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EXHIBIT 99.1
NEWS RELEASE FOR FURTHER INFORMATION CONTACT:
NEWS9.97 TRACY BUCHANAN - 972-753-6900
FOR IMMEDIATE RELEASE
HARKEN ANNOUNCES $70 MILLION FINANCING
Dallas, Texas (JUNE 6, 1997)--Harken Energy Corporation ("Harken")
(AMEX: "HEC") announced today that it intends to close the sale of $70,000,000
in Convertible Notes in Europe next week, on June 11th. These Notes bear
interest at 5.5% annually until maturity in the year 2002, unless earlier
redeemed or converted. These Notes are convertible under certain conditions
into shares of Harken common stock at a conversion price of $5.00 per share
based on its pricing which was set on June 3rd. These Securities have not been
registered and cannot be offered or sold in the U.S.
Harken's Chairman, Mikel D. Faulkner, said, "With this expanded capital base
provided through this offering we plan to develop the prospects identified
through our recent Colombian discoveries and to keep larger interests in
selected future prospects." Continuing, Faulkner said, "We plan to manage our
exploratory risks carefully; however, several of our prospects warrant
retaining as large an interest as possible due to the positive impact they
could have on the Company if successful. This additional financial strength at
Harken provides the option to keep larger prospect ownership, thereby avoiding
the dilution in value to our shareholders which can result from taking an
industry partner."
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HARKEN ENERGY CORPORATION ("HARKEN") (AMEX: "HEC") EXPLORES FOR, DEVELOPS AND
PRODUCES OIL AND GAS RESERVES DOMESTICALLY AND INTERNATIONALLY. CERTAIN
STATEMENTS IN THIS NEWS RELEASE REGARDING FUTURE EXPECTATIONS AND PLANS FOR
INTERNATIONAL OIL AND GAS EXPLORATION AND DEVELOPMENT MAY BE REGARDED AS
"FORWARD LOOKING STATEMENTS" WITHIN THE MEANING OF THE SECURITIES LITIGATION
REFORM ACT. THEY ARE SUBJECT TO VARIOUS RISKS, SUCH AS THE INHERENT
UNCERTAINTIES IN INTERPRETING ENGINEERING DATA RELATED TO UNDERGROUND
ACCUMULATIONS OF OIL AND GAS, TIMING AND CAPITAL AVAILABILITY, DISCUSSED IN
DETAIL IN THE COMPANY'S SEC FILINGS, INCLUDING THE ANNUAL REPORT ON FORM 10-K
FOR THE YEAR ENDED DECEMBER 31, 1996.
