Harken Energy Raises $14.1 Million Through Sale of Global Energy Shares

Harken Energy negotiated and closed the sale of 2,829,501 shares from its existing holdings in Global Energy Development PLC, raising approximately $14.1 million in new capital for Harken Energy.

Regarding the Global Energy Development shares sold, 1,749,501 were conducted through a private sale at market prices to FMR Corporation and Fidelity International Ltd. and/or one or more of their respective direct and indirect subsidiaries. The remaining balance of 1,080,000 shares were sold in open market transactions at market prices. As a result of these transactions, Harken Energy now holds 18,975,641 ordinary shares, representing approximately 54% of Global Energy Development's outstanding common shares.

Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries.