Harken Energy Announces Stock Repurchase Plan

Harken Energy announced that its Board of Directors has authorized a stock repurchase program allowing the Company to buy back up to two million shares of its common stock. All repurchases will be made from time to time in the open market when opportunities to do so at favorable prices present themselves in compliance with all applicable laws and regulations including the Securities and Exchange Commission rules.

Alan G. Quasha, the Company's Chairman stated, "Our decision to institute a buyback program expresses our confidence in the Company's ability to deliver positive cash flow and maintain a strong balance sheet. We believe that purchasing the Company's shares is an appropriate use of capital and underscores our commitment to the best interests of our shareholders."