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NEWS

 

FOR RELEASE:  April 19, 2012

 

 

HKN Announces Increase to Stock Repurchase Program

 

Dallas, Texas – April 19, 2012 – HKN, Inc. (NYSE Amex: HKN) (“HKN”) announced today that its Board of Directors approved an addition of 1 million shares to HKN’s previously-announced stock repurchase program, under which approximately 42 thousand shares remained available for repurchase as of March 30, 2012.  Pursuant to the terms of the repurchase plan, HKN is authorized to make purchases in the open market and in privately negotiated transactions subject to prevailing market conditions.  All such repurchases will be made in compliance with applicable laws and regulations including Securities and Exchange Commission rules.

 

HKN, Inc. is an independent energy company engaged in the development of a well-balanced portfolio of assets in the energy industry and in the active management of our 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 March 2, 2012. HKN undertakes no duty to update or revise any forward-looking statements.  Actual results may vary materially.