Harken Increases Production from its Cenac #1 Well

Harken Energy Corporation has completed its pipeline facilities and has initiated production from its Cenac #1 well as scheduled. This well located in Terrebonne Parish, South Louisiana, is in Harken's primary area of focus for exploration and development activities.

Flowing production from this Cenac #1 well is gauged at approximately gross 10 million cubic feet of gas and 225 barrels of condensate per day. These rates were achieved with 9400psi flowing tubing pressure. Harken anticipates in the fourth quarter it will announce the timing of the next well to be drilled in this Lapeyrouse prospect area.

Harken holds significant additional acreage in its Lapeyrouse prospect surrounding the Cenac #1 well, which Harken has targeted for further exploration and development. Harken has identified, based on its 3D seismic over this prospect, four additional exploration prospects for further drilling within this Lapeyrouse prospect area.

Harken is the operator of this well and has a 27.7% working interest. In addition, Beta Oil and Gas, Incorporated holds a 16.6% working interest in this well.