HEC Harken Energy Corp

Harken Energy Subsidiary Commences Drilling Estero #5 Well in Colombia DALLAS, Oct. 7 /PRNewswire-FirstCall/ -- Harken Energy Corporation (AMEX:HEC) through its 85% owned subsidiary, Global Energy Development PLC, provides the following update on drilling activity in Colombia, South America: Drilling operations have commenced on the Estero #5 well, located in the Llanos basin of Colombia, South America. The Estero #5 is a development well in the Palo Blanco field. The well is expected to take up to 35 days to drill and an additional 15 days to complete, should drilling results be favorable. The Estero #5 well has a projected drilling depth of approximately 9,000 feet and will target the Traditional Ubaque, Massive Ubaque and Mirador formations. The Estero #5 well is the first of approximately nine wells currently scheduled to be drilled and or completed within the next 12 months in Global's Palo Blanco field and Global's new Rio Verde Contract acreage. Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries. Additional information may be found at the Harken Energy Web site, http://www.harkenenergy.com/, or by calling Bevo Beaven or Bill Conboy at CTA Public Relations at (303) 665-4200. This announcement may contain forward-looking statements as defined by the Securities and Exchange Commission. Harken, however, believes that it is important to provide this operations update and communicate its future expectations to its stockholders. The forward-looking statements in this announcement reflect the current view of management with regard to future events and are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Harken to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include, among others, the risks described in Harken's filings with the Securities and Exchange Commission including the Annual Report on Form 10-K for the fiscal year ended December 31, 2003 filed on March 26, 2004 and its Form 10-Q for the quarter ended June 30, 2004 filed on August 12, 2004. Statements regarding future production are subject to all of the risk and uncertainties normally associated with exploration, development and production of oil and gas. These risks include, without limitation, variability in the price received for oil and gas production, lack of availability of oil field goods and services, environmental risks, drilling and production risk, risk related to offshore operations, and regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Although Harken believes that the expectations reflected in the forward-looking statements of this announcement are reasonable, it can give no assurance that such expectations will prove to be correct or that unforeseen developments will not occur. Harken undertakes no duty to update or revise any forward-looking statements. For further information, please contact Bevo Beaven, Vice President, , or Bill Conboy, Senior Account Executive, , both of CTA Public Relations, +1-303-665-4200, for Harken Energy Corporation. DATASOURCE: Harken Energy Corporation CONTACT: Bevo Beaven, Vice President, , or Bill Conboy, Senior Account Executive, , both of CTA Public Relations, +1-303-665-4200, for Harken Energy Corporation Web site: http://www.harkenenergy.com/

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