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Topic: Harken Energy

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	PRESS RELEASE Harken Energy Provides Domestic Operations Update (Site not responding. Last check: 2007-10-06)
		Harken participated in the drilling of one well during the third quarter of 2006 for a total of three wells in this field during 2006.
		Harken is experiencing limited availability of needed equipment in order to move forward with the pilot program.
		Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries and investments.
	www.marketwire.com /mw/release_html_b1?release_id=174099 (950 words)

	ALOHA, HARKEN ENERGY! - Following the Oil Slick from the Texas Bushes to Hawaii's Kamehameha Schools. (Site not responding. Last check: 2007-10-06)
		Bush’s sale of the Harken stock in 1990 attracted the attention of regulators and the national media because he was tardy in filing the required public disclosure, and because the trade came shortly before the company reported for the first time that it was incurring huge losses.
		Harken masked its 1989 losses when in mid-year it sold 80 percent of a subsidiary, Aloha Petroleum, to a partnership of Harken insiders called Intercontinental Mining Resources, Limited for $12 million, $11 million of which was through a note held by Harken.
		Harken also filed an amendment to its third quarter report for 1989 revealing that over the first nine months of that year it had lost nearly $4 million, rather than the $4.6 million profit it had declared.
	www.the-catbird-seat.net /AlohaHarken.htm (8040 words)

	Harken Energy: The Undervalued and Untouched Small Cap Oil Company
		Harken Energy Corporation (AMEX: HEC) is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries.
		Harken Energy's operations had limited down time though when it was hit by Hurricane Katrina in the Gulf of Mexico.
		Harken's operations, located in the onshore and offshore Gulf Coast regions of south Texas and Louisiana, which were originally restarted at about 55 percent, are now back to more normal production levels.
	www.antandsons.com /aheadoftheticker/harkenenergy (522 words)

	Harvard Was Unlikely Savior Of Bush Energy Firm Harken
		Harken was already technically in default at that point, according to other company records, because it had failed to abide by equity requirements in loan agreements with its two primary banks.
		Harken contributed $20 million in debt and liabilities, plus a group of poorly performing oil-drilling assets valued at $26 million -- many of them in Oklahoma's Anadarko basin -- for a net of $6 million.
		Harken also retained cash from a $7.5 million bank loan that the partnership was required to repay.
	foi.missouri.edu /usenergypolicies/harvardharkenwsj.html (1405 words)

	Harvard role in Harken called deeper
		The creation of the partnership was approved in a motion made by Bush, who was on the Harken board of directors and its audit committee, said Black, an assistant professor at the LBJ School of Public Affairs at the University of Texas in Austin.
		The partnership was "off the Harken books," Black said, which he said means that Harken's stake in the partnership was reported but the financial details did not need to be revealed to the Securities and Exchange Commission.
		Harken gave Bush a seat on the board of directors and an annual paycheck of $120,000.
	foi.missouri.edu /usenergypolicies/harvardharkenglobe.html (796 words)

	Harken Energy
		Harken Energy Corporation, ("Harken"), is a publicly traded company listed on the American Stock Exchange, (AMEX: HEC).
		Harken is engaged in oil and gas exploration, development and production operations both domestically and internationally through its ownership in various operating companies.
		Harken was incorporated in 1973 in the State of California and reincorporated in 1979 in the State of Delaware.
	www.harkenenergy.com /profile.html (429 words)

	The Center for Public Integrity
		Harken was a small concern, but poised to become much bigger.
		In late 1984, Harken was appointed exclusive agent and manager of Soros Oil Inc., a privately held corporation formed to invest in oil and gas properties.
		Harken agreed to issue corrected financial statements for the 1989 fiscal year and for the nine months ending Sept.
	www.publicintegrity.org /report.aspx?aid=196 (2138 words)

	Scoop: UQ Wire: Harken Energy Chronology
		Harken Energy was formed in l973 by two oilmen who would benefit from a successful covert effort to destabilize Australia's Labor Party government (which had attempted to shut out foreign oil exploration).
		Harken had made no significant change in its underlying businesses and profit potential as an economic organization, and yet was trying to claim that something, somehow had added $8 million in value--in current profits--to the company.
		Harken’s counsel informs Bush that his original loan from the company to cover his stock options would be changed from a full recourse note to a non recourse note, as Bush requested.
	www.scoop.co.nz /stories/HL0208/S00139.htm (11787 words)

	PRESS RELEASE Harken Energy Provides Domestic Operations Update (Site not responding. Last check: 2007-10-06)
		Ute Energy, a contracted third party with a long track record in successful Coalbed Methane development is the operator and provides expert advice for these projects.
		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, www.harkenenergy.com, or by calling Bevo Beaven or Bill Conboy at CTA Public Relations at (303) 665-4200.
	www.marketwire.com /mw/release_html_b1?release_id=93181 (1488 words)

	OnPolitics (washingtonpost.com)
		Additionally, Harken controls approximately 740 thousand acres of land in Colombia, where about 1,500 barrels of oil are produced per day.
		Harken sold a subsidiary, Aloha Petroleum, in 1989 to a group of insiders through a seller-financed loan.
		In a White House press conference Monday, Bush rejected comparisons of Harken's SEC dealings with that of the Enron Corp., where accounting practices were used to conceal millions of dollars in losses.
	www.washingtonpost.com /wp-srv/onpolitics/articles/primer.html (611 words)

	washingtonpost.com: The Harken Energy Distraction
		In 1989 Harken used a phony sale to bump up its revenue; in 1991 the SEC forced the company to correct its numbers.
		Bush was on Harken's audit committee, so he shares responsibility for this episode.
		But the size of the loan was relatively modest, and there is little shame in having participated in a legal practice years ago and then advocating its reform when others turn out to have abused it.
	www.washingtonpost.com /ac2/wp-dyn/A58393-2002Jul11?language=printer (567 words)

	Free trade agreement threatens Costa Rican environmental protections \| By Mark Engler, Nadia Martinez \| Grist \| Main ...
		Harken Energy, a Texas-based oil company with close ties to U.S. President George W. Bush, had previously obtained rights to search for crude in Costa Rica.
		Now Harken is demanding that the Costa Rican government pay upwards of $12 million in reparations for its aborted exploits.
		On March 11, the government announced its position that Harken did not have legal grounds to demand compensation and that Costa Rica is not obliged to pay anything.
	www.grist.org /news/maindish/2004/03/26/engler (1561 words)

	RIGZONE - Harken Energy Provides Domestic Operations Update
		Harken Energy Corporation has released updated production figures, well completion status and increased 2004 expected capital expenditures for its domestic oil and gas operations, which are located primarily along the onshore and offshore Texas and Louisiana Gulf Coast.
		Harken's domestic operations are managed by its wholly owned subsidiary, Gulf Energy Management Company ("GEM").
		Harken is committed to the continuing development of its domestic operations and has increased its 2004 budgeted capital expenditures by $3 million to approximately $12 million, to grow its Gulf Coast operations.
	www.rigzone.com /news/article.asp?a_id=17931 (802 words)

	Harken Energy - Wikipedia, the free encyclopedia
		Harken Energy Corporation is an American oil and gas company, headquartered in Southlake, Texas.
		Harken has attracted attention because of the role played in its affairs in the 1980s by George W. Bush, later the President of the United States.
		A Harken transaction associated with the endowment fund of Harvard University has also been questioned; see Harken Energy Scandal and Harken board member from Harvard, Michael R. Eisenson.
	en.wikipedia.org /wiki/Harken_Energy (219 words)

	Bush and Harken Energy \| Special reports \| Guardian Unlimited
		In that transaction, Harken sold 80% of a subsidiary, Aloha Petroleum, to a partnership formed by Harken executives, who got most of the money for the deal by borrowing from Harken itself.
		The transaction allowed Harken to reduce the amount of debt on its balance sheet and to claim the proceeds of the sale as income.
		Mr Bush became a director of Harken and a member of its audit committee when Harken paid $2m for Spectrum 7, a small loss-making energy company with large debts.
	www.guardian.co.uk /bush/story/0,7369,752706,00.html (706 words)

	Byron York on Bush & Harken on National Review Online
		Harken's management wanted Bush on its team — his father was then vice-president, and he had extensive connections, as well as knowledge of the oil and gas business.
		But Harken's officers did not offer Bush an executive role, instead giving him a seat on the board, a chunk of stock worth at least $500,000 at the time, and a consulting contract.
		In addition, the investigators found that Bush played a "relatively limited role in Harken management." In that role, he usually did not receive what were called the Weekly Flash Reports on the company's financial condition; those reports were given only to the board of directors' executive committee.
	www.nationalreview.com /york/york071002.asp (2474 words)

	Bush received two loans from Harken - Jul. 11, 2002
		Since his stock sale took place before Harken adjusted its books, the SEC also investigated him for possible insider trading in 1990, when his father was President, but took no action against him.
		In his press conference this week, Bush called the Harken charges old news and said the SEC needed to be strengthened to separate normal business dealings like his from the malfeasance happening at other companies.
		Harken gave him the 212,000 shares of stock as a result of that deal, and he became a director and a consultant for the company.
	money.cnn.com /2002/07/11/news/bush_loan/index.htm (910 words)

	RIGZONE - Harken Energy Corp.
		Harken has grown from zero proved oil & gas reserves in 1992 to almost 50 million barrels of oil equivalent ("BOE") at December 31, 1999.
		With approximately 740 thousand acres under contract in Colombia, Harken controls one of the largest net onshore exploration acreage positions in that country, one of the world's most exciting geological provinces.
		Tuesday, January 31, 2006 - Harken Energy says domestic production continued to be affected by the shut-in of production related to hurricane damage and is currently at 75% of pre-Katrina levels.
	www.rigzone.com /news/company.asp?comp_id=24 (933 words)

	Bushwhacked, Molly Ivins and Lou Dubose excerpt, ThinkingPeace
		The “sale” of Aloha Petroleum, from Harken to Harken, was again Enron writ small and so outrageous that the SEC stepped in, declared the accounting unacceptable, and forced the company to restate its earnings.
		It allowed Harken to declare a modest loss of $3.3 million on its 1989 annual report, and as a result the company’s shareholders had no clue how bad things were.
		Harken’s sham sale of Aloha was a shameful violation of shareholder trust, but it kept Harken’s share value up long enough to let Bush sell his stock before the corrected profit-and-loss statements were released in August.
	www.thinkingpeace.com /Lib/lib027.html (4293 words)

	Harken Scandal: Board Was Told of Risks Before Bush Stock Sale
		WASHINGTON - One week before George W. Bush's now-famous sale of stock in Harken Energy Corp. in 1990, Harken was warned by its lawyers that Bush and other members of the troubled oil company's board faced possible insider trading risks if they unloaded their shares.
		None would speak about the case on the record, but a July 1991 memo from the SEC investigators to their boss reveals that they were having difficulty securing documents from Bush, who was holding many items back, saying they were private correspondence between him and his lawyer.
		The counsel, in turn, asked Harken's law firm, Haynes and Boone, whose advice included this warning: ''The act of trading, particularly if close in time to the receipt of the inside information, is strong evidence that the insider's investment decision was based on the inside information.
	www.commondreams.org /headlines02/1030-06.htm (1766 words)

	Bush's hypocritical corporate ethics - By William Saletan - Slate Magazine
		On Monday, President Bush defended his stewardship of Harken Energy, a company on whose board of directors he served more than a decade ago.
		The key facts in the Harken case are these: Bush sold more than $800,000 worth of stock in Harken in June 1990, two months before the company reported a far larger quarterly loss than investors had anticipated.
		Monday, Bush argued that the SEC's eventual correction of Harken's books—a correction that wasn't made until after Bush had sold his stock—proved that "the system worked." The SEC "made the decision that Harken ought to restate some earnings, which Harken did," said the president.
	www.slate.com /?id=2067870 (856 words)

	Scoop: UQ Wire: Harken Energy Chronology
		While serving on the Board of Directors at Harken Energy Company, George W. Bush’s performance, motives and ethics were no different than those of the corporate executives and officers of Enron, Worldcom or any other national corporation being criticized by Bush for doing what he did.
		When Harken Energy needed an infusion of cash in the spring of 1987, the Bush personally met with [Jackson] Stephens founder of Stephens, Inc, Little Rock, Arkansas, the largest investment banking and brokerage firm outside of New York.
		The partnership, created when Harvard was Harken’s largest investor, was a fl box under complete control of Harken insiders: it's impossible to tell what was really going in and out of it.
	www.scoop.co.nz /stories/HL0210/S00178.htm (13862 words)

	Bush and Harken
		Bush purchased stock in Harken three times between 1986 and 1989, and was several months late in reporting those transactions to the SEC, according to documents from the agency.
		On November 1, 1986, Bush acquired 212,152 shares of Harken as a result of the merger of his failing oil company--Spectrum 7--with Harken, but did not report the transaction with the SEC until April 7, 1987, more than twelve weeks after the deadline.
		Members of Congress are calling for Harvey Pitt, chairman of the SEC, to release all files related to Bush's Harken Energy days, but Pitt said on Meet the Press that he considers Bush's Harken transactions a dead issue and therefore he will not publicly release the files.
	www.thenation.com /doc/20020722/leopold20020718 (1108 words)

	[No title] (Site not responding. Last check: 2007-10-06)
		As part of the deal, Sheikh Abdullah Bakhsh, a Saudi real estate billionaire, joined Harken Energy's board as a major investor.
		Stephens and his Worthen National Bank invested in Harken Energy, a Texas company in which George Bush, Jr., was a board member.
		At the time of the Harken investment, UBS was a joint-venture partner with BCCI in a bank in Geneva, Switzerland.
	www.lycos.com /info/jackson-stephens--harken-energy.html (430 words)

	Sean Donahue: The Other Harken Energy Scandal
		Harken gave Bush $2 million in stock options, a $122,000 consulting job, and a seat on its board of directors.
		While Bush was working for Harken, Rodrigo Villamizar, an old friend Bush had met at a fraternity party in 1972, became director of Colombia's bureau of Mines and Minerals, the ministry that oversees the sale of oil concessions by the state oil company, Ecopetrol.
		Harken is still doing business in the Magdalena Valley, thanks in part to funding from the World Bank's International Finance Corporation, and paramilitaries continue to terrorize anyone who threatens corporate interests in the region.
	www.counterpunch.org /donahue0712.html (1165 words)

	Harken Energy
		Harken Energy Reports 74% Production Increase, 71% Revenue Increase, 164% Operating Margin Increase and Strong Cash Position
		Harken Energy Subsidiary, Global Energy Development PLC, Signs Exclusive Contract Located within Llanos Basin in Colombia
		For more information on Harken Energy Corporation, and S&P’s Oil and Gas Energy Industry outlook.
	www.harkenenergy.com (69 words)

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