RELEASE: April 30, 2012
HKN Announces Amendment to its Rights Agreement
Texas - April 30, 2012 - HKN,
Inc. (NYSE Amex: HKN) (“HKN”) announced today that it has amended its existing
Rights Agreement to accelerate the final expiration date of the rights issued
thereunder from April 6, 2018 to May 30, 2012.
The effect of this amendment is that our outstanding
Rights will expire on May 30, 2012, and the shareholder’s rights plan pursuant
to which Rights have been issued will be of no further force or effect.
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.