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.
