FOR RELEASE:  March 14, 2011

 

 

HKN, Inc. Announces Oilfield Emulsions Supply Contract for

BriteWater International, LLC

 

Dallas, Texas – March 14, 2011 – HKN, Inc. (NYSE Amex: HKN) (“HKN”) today announced that BriteWater International, LLC (“BriteWater”) has entered into an agreement  (the “Agreement”)  with a producer on the Alaskan North Slope pursuant to which it has the right of first refusal to process and dispose of certain of the producer’s oilfield emulsion waste materials.  The Agreement has a term of seven years.

 

HKN holds a 52.09% interest in BriteWater, which owns the patented oilfield emulsion breaking OHSOL technology.  This environmentally-clean process can be used to purify oilfield emulsions by breaking and separating the emulsions into oil, water and solids. 

 

HKN, Inc. is an independent energy company engaged in the development and production of crude oil, natural gas and coalbed methane assets and in the active management of energy-based investments. Additional information may be found at the HKN Web site, www.hkninc.com. Please e-mail all investor inquiries to Investorrelations@hkninc.com.

                                                 

Certain statements in this announcement and inferences derived therefrom may be regarded as “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the opinions and estimates of management at the time the statements are made.   Management’s current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of HKN to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements.  The various uncertainties, variables, and other risks include those discussed in detail in the Company’s SEC filings, including the Annual Report on Form 10-K filed on February 17, 2011. HKN undertakes no duty to update or revise any forward-looking statements.  Actual results may vary materially.