Global Energy Development planning to drill up to 4 wells in Colombia

Global Energy Development PLC, the international unit of Harken Energy Corp., Houston, plans to drill up to 4 wells within a year in Palo Blanco field in Colombia based upon a recent test of a new zone in its Estero 2 well.

June 24, 2004

By OGJ editors
HOUSTON, June 24 -- Global Energy Development PLC, the international unit of Harken Energy Corp., Houston, plans to drill up to 4 wells within a year in Palo Blanco field in Colombia based upon a recent test of a new zone in its Estero 2 well.

On test, the Upper Mirador zone at 7,664-7,668 ft flowed at a maximum rate of 432 gross b/d. The test crude oil was 37° gravity.

After completing additional testing of the new zone, Global expects to commingle production from the Upper Mirador with the Ubaque formation, already producing 160 gross b/d from the Estero 2 well, of which Global owns 100% interest (OGJ Online, Apr. 21, 2004).

In addition, Global plans to recomplete two wells that are producing in the Ubaque.