Harken Energy Corporation
(Amex: HEC) negotiated and closed the sale of 2,812,716 shares from its
existing holdings in subsidiary Global Energy Development PLC, raising
$8.4 million in new capital for Harken Energy. This sale of Harken's Global
Energy Development shares to an institutional investor was conducted through a
private sale at market prices. As a result of this transaction Harken Energy
now holds 21,037,213 shares or 74.79% of Global Energy Development.