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HARKEN ANNOUNCES FIRST QUARTER RESULTS

 DALLAS, May 20 /PRNewswire/ -- Harken Energy Corporation (Harken) (AMEX: HEC) of Dallas today reported a net loss of $184,000 ($.00 per common share) for the first quarter ended March 31, 1993, compared to a net loss of $72,000 ($.01 per common share after accrued preferred stock dividends) for the first quarter ended March 31, 1992.
 With the February 1993 acquisition of Chuska Resources Corporation (Chuska), Harken's operations changed significantly. As a result, Harken's total revenues as well as its earnings before depreciation, interest and taxes ("EBDIT") during the first three months of 1993 increased when compared to the corresponding period of 1992. Total revenues were $1,943,000 for the first quarter of 1993 compared to $1,209,000 for the first quarter of 1992. EBDIT was $626,000 for the first quarter of 1993 compared to $252,000 for the same period a year ago.
 Harken's total costs and expenses were $2,127,000 for the first quarter of 1993 compared to $1,281,000 for the same period a year ago. The major components of this increase are the inclusion of two months of oil and gas operating expenses, general and administrative expenses and depreciation, depletion and amortization for Chuska. Harken is currently evaluating Chuska's administrative activities with the objective of eliminating any duplicate administrative and operational functions.
 Mikel D. Faulkner, Harken's chairman, stated, "Harken's first quarter results have been significantly influenced by Chuska's operations. We are pleased to have consummated the Chuska acquisition during the first quarter and plan to implement a Four Corners Area drilling program through Chuska. In addition, we continue to perform geological and geophysical studies on the Alcaravan area of Colombia's Llanos Basin as well as offshore Bahrain as we continue discussions with interested parties toward a drilling joint venture agreement relating to Bahrain."
 HARKEN ENERGY CORPORATION
 Selected Financial Information
 (in 000's of Dollars, except for per share amounts)
 First Quarter 1993 1992
 Total Revenues 1,943 1,209
 Earnings before depreciation,
 interest and taxes (EBDIT) 626 252
 Net loss (184) (72)
 Net loss per common share (.00) (.01)
 Weighted average common shares
 outstanding 53,492 44,316
 Harken Energy Corporation explores for, develops and produces oil and gas reserves domestically and internationally. Harken also provides oilfield services.
 -0- 5/20/93
 /CONTACT: Dale Brooks of Harken Energy Corporation, 817-695-4900/
 (HEC)


CO: Harken Energy Corporation ST: Texas IN: OIL SU: ERN

SH -- NY029 -- 0626 05/20/93 09:14 EDT
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Date:May 20, 1993
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