RELEASE: April 8, 2011
HKN, Inc. Announces Expiration of Rights Offering on April 7, 2011
Dallas, Texas – April 8, 2011
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.