Harken Begins Production form Macarenas #1 in Colombia

Rio Verde Block, Llanos Basin
(Click to Enlarge)
Harken Energy's subsidiary, Global Energy Development, successfully re-completed and commenced production from the Macarenas # 1 well within its' 75,000 acre Rio Verde Exploration and Production Contract in Colombia. The Macarenas # 1 well tested at a maximum potential rate of 605 barrels of oil per day of 36 degree API gravity oil. Global owns a 100% working interest in the Macarenas # 1 well.

Global currently produces from two wells on the Rio Verde Contract with the Company intending to explore opportunities for additional development around these two wells in the medium-term.

Commenting on the Macarenas # 1 and the Rio Verde Contract, Stephen C. Voss, Managing Director of Global Energy Development PLC said, "Progress made on the Rio Verde Contract continues to run ahead of our initial expectations with two wells having been brought on production in just over a month. Within Global's portfolio are four contracts in Colombia from which production is currently being achieved and the resulting cash flow allows us to consider potentially significant opportunities including additional development and exploration opportunities throughout the remaining Rio Verde acreage."

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