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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 (Date of earliest event reported): May 26, 1998
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 May 26, 1998, Harken Energy Corporation closed the sale of
$85,000,000 of 5% Senior Convertible Notes in Europe. These Notes bear
interest at 5% annually until maturity in the year 2003, unless earlier
redeemed or converted. These Notes are convertible under certain conditions
into shares of Harken common stock at a conversion price of $6.50 per share.
The Notes have not been registered under the Securities Act of 1993,
as amended (the "Act") and can not be offered or sold in the U.S. without
registration under the Act or an exemption therefrom.
A press release dated May 27, 1998, 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
------ -----------
99.1 -- Press Release dated May 27, 1998.
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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: May 27, 1998 By: /s/ Gregory S. Porter
-----------------------
Gregory S. Porter
Vice President - Legal
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INDEX TO EXHIBITS
Sequentially
Numbered
Exhibit No. Exhibit Page
----------- ------- ------------
99.1 Press Release dated May 27, 1998
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EXHIBIT 99.1
NEWS RELEASE FOR INFORMATION CONTACT:
NEWS20.99 TRACY BUCHANAN - 972-753-6900
EMAIL: [email protected]
FOR IMMEDIATE RELEASE
HARKEN ANNOUNCES $85 MILLION FINANCING
Dallas, Texas (MAY 27, 1998)--Harken Energy Corporation ("Harken")
(AMEX: "HEC") announced today that yesterday it closed the sale of $85,000,000
of 5% Senior Convertible Notes in Europe. These Notes bear interest at 5%
annually until maturity in the year 2003, unless earlier redeemed or converted.
These Notes are convertible under certain conditions into shares of Harken
common stock at a conversion price of $6.50 per share.
The Notes have not been registered under the Securities Act of 1993,
as amended (the "Act") and can not be offered or sold in the U.S. without
registration under the Act or an exemption therefrom.
Harken's Chairman, Mikel D. Faulkner, said, "We are very pleased with the terms
of this successful placement of convertible notes in Europe. This capital
will allow Harken to confidently accelerate its Colombian exploration and
development plans."
______________
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, 1997.
