Harvest Natural Resources Announces Receipt of Dividend



HOUSTON, May 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --  Harvest Natural Resources, Inc. (NYSE: HNR) today announced that it received a cash dividend of $58 million from its 32 percent owned Venezuelan affiliate, Petrodelta, S.A. (Petrodelta). The dividend represents Harvest's 32 percent share of Petrodelta's $181 million of net income as reported under International Financial Accounting Standards for the period of April 2006 through December 2007. Receipt of the dividend completes the transition from the operating service agreement to Petrodelta.

Harvest Natural Resources

Harvest Natural Resources, Inc. headquartered in Houston, Texas, is an independent energy company with principal operations in Venezuela, exploration assets in the United States, Indonesia, Gabon and China, and business development offices in London and Singapore. For more information visit the Company's website at http://www.harvestnr.com.

"This press release may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. They include estimates and timing of expected oil and gas production, oil and gas reserve projections of future oil pricing, future expenses, planned capital expenditures, anticipated cash flow and our business strategy. All statements other than statements of historical facts may constitute forward-looking statements. Although Harvest believes that the expectations reflected in such forward- looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from Harvest's expectations as a result of factors discussed in Harvest's 2007 Annual Report on Form 10-K and other public filings."

SOURCE Harvest Natural Resources, Inc.



http://www.harvestnr.com




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