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HARKEN ANNOUNCES SELECTION OF EXPLORATION PROSPECT IN BAHRAIN

 HARKEN ANNOUNCES SELECTION OF EXPLORATION PROSPECT IN BAHRAIN
 DALLAS, July 20 /PRNewswire/ -- Harken Energy Corporation (AMEX: HEC) of Dallas today announced that the Muharraq Island area has been identified as the prospect for its second exploratory well to be drilled offshore Bahrain. The Muharraq prospect is located immediately to the northeast of Manama. The second well is planned to test the Jurassic Arab formation at approximately 9,000 feet for potential oil production.
 By committing to drill this second well, Harken has formally extended for three years its Production Sharing Agreement on approximately one-third of the acreage covered under the agreement. In the future, Harken will need to make decisions as to whether to extend its rights to all or a portion of the remaining acreage covered under the agreement. Such extensions would require Harken to commit to additional wells on the remaining acreage.
 Subject to final site selection, appropriate approvals and availability of equipment, Harken plans to spud this second well as soon as it concludes an acceptable drilling contract with a contractor in the region.
 Harken Energy Corporation explores for, develops and produces oil and gas reserves domestically and internationally. Harken also provides oilfield services.
 -0- 7/20/92 R
 /CONTACT: Dale Brooks of Harken Energy, 817-695-4900/
 (HEC) CO: Harken Energy Corporation ST: Texas IN: OIL SU:


SB -- NY052 -- 0751 07/20/92 12:40 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
Words:228
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