FOR RELEASE:  April 8, 2011

 

 

HKN, Inc. Announces Expiration of Rights Offering on April 7, 2011

 

Dallas, Texas – April 8, 2011 – HKN, Inc. (NYSE Amex: HKN) (“HKN”) today announced that its previously announced Rights Offering closed on April 7, 2011 and all unexercised rights have expired.  The Rights Offering was fully subscribed for 7.5 million shares at the subscription price of $2.00 per share. Following the issuance of the newly subscribed shares, HKN will have 17,526,098 total shares outstanding.

 

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.