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HARKEN ANNOUNCES AGREEMENT TO ACQUIRE CHUSKA RESOURCES CORPORATION

HARKEN ANNOUNCES AGREEMENT TO ACQUIRE CHUSKA RESOURCES CORPORATION
 DALLAS, Sept. 30 /PRNewswire/ -- Harken Energy Corporation ("Harken") (AMEX: HEC) of Dallas today announced that it has entered into an agreement ("agreement") with Chuska Resource Corporation ("Chuska") (Vancouver: "CKA") of San Antonio, Texas whereby Harken would acquire all of the approximately 11,055,718 outstanding Chuska common stock currently outstanding in exchange for approximately 13,950,000 shares of newly-issued Harken common stock. As a result of the transaction, Chuska will become a wholly owned subsidiary of Harken through a merger of Chuska into a Harken subsidiary (the "merger").
 Mikel D. Faulkner, Harken's chairman, said, "We believe that Chuska's proven oil and gas reserve base, its potential for future development and its established cash flow will complement Harken's existing international opportunities. We are very excited by this acquisition and are particularly happy that Chuska's founders will soon be joining the Harken family and that the expertise developed by Chuska will be applicable not only to Chuska's future development but also to Harken's current international efforts."
 Chuska's operations in the Paradox Basin are primarily concentrated on the Navajo Indian Reservation (the "Reservation"), which comprises portions of Arizona, New Mexico and Utah. Chuska conducts activities on the Reservation as a contractually appointed operator and agent of the Navajo Nation. In addition to its oil and gas operations, Chuska also has interests in two gas processing plants in or near the Paradox Basin.
 During its most recently completed fiscal year ended Dec. 31, 1991, Chuska reported total revenues of $9,977,000 and net income of $2,568,000 on production volumes of 406,000 barrels of oil and 634 MMCF of gas. The merger will provide Harken with a new sizable domestic reserve base. As of Dec. 31, 1991, Chuska held the equivalent of proved reserves of approximately one million barrels of oil and five BCF of gas with an SEC-case net present value of approximately $19 million.
 The Chuska merger also will bring to Harken a significant number of low-risk drilling opportunities. Chuska has current undeveloped holdings in the Reservation and Blanding areas of 133,274 gross and 55,688 net acres. This provides Chuska with the dominant acreage position in this highly productive area. In addition, Chuska has Western Paradox holdings of 70,127 gross and net acres representing a significant, sparsely drilled acreage block in an area geologically similar to the Reservation and Blanding areas. Chuska has acquired and/or purchased approximately 2,733 miles of proprietary and non-proprietary seismic on these acreages.
 In addition to its significant reserves and its drilling opportunities, Chuska also has a team of technical experts with extensive and proven geological and exploration capabilities. Chuska's technical team has more than 35 years combined experience working the Paradox Basin. In addition, this group utilizes proprietary, state-of-the-art seismic diagnostic techniques which will benefit not only the domestic exploration activities but will also be utilized in Harken's international exploration projects.
 Effectiveness of the merger is subject to certain conditions including the approval of a majority of both Harken's and Chuska's common stockholders. Harken currently anticipates that such approvals will be obtained and that the closing of the agreement will occur prior to year-end. Under the terms of the agreement, Harken will register with the Securities and Exchange Commission ("SEC") the Harken common shares to be issued to Chuska shareholders in the merger. Harken anticipates that the registration statement covering these shares will be filed with the SEC during the month of October, 1992.
 Harken Energy Corporation explores for, develops and produces oil and gas reserves domestically and internationally. Harken also provides oilfield services.
 -0- 09/30/92
 CONTACT: Dale Brooks of Harken Energy Corporation, 817-695-4900
 (HEC) CO: HARKEN ENERGY CORP.; CHUSKA RESOURCES CORP. IN: OIL ST: TX -- NY012 -- X291 09/30/92
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Date:Sep 30, 1992
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