Harvest
Natural Resources Announces At-The-Market Equity Financing Program
Harvest
Natural Resources, Inc. (NYSE: HNR) today entered into an equity
distribution agreement ("Agreement") with Knight Capital
America, L.P. ("KCA"), a subsidiary of Knight Capital Group,
Inc., relating to an "at-the-market" ("ATM") offering of
shares of our common stock having an aggregate sales price of up to $75,000,000.�
Under the terms of the Agreement, Harvest may offer and sell shares of its
common stock by means of transactions on the New York Stock Exchange
("NYSE") or otherwise at market prices prevailing at the
time of sale, at prices related to the prevailing market price or at negotiated
rates.� Harvest expects to use any proceeds
from this offering for general corporate purposes, including but not limited to
repayment of outstanding borrowings.
The
shares will be offered under a prospectus supplement dated March 30,
2012, to the Company's base prospectus dated November
4, 2009, filed as part of its effective shelf
registration statement previously filed with the Securities and Exchange Commission.� A copy of
the prospectus supplement may be obtained from KCA at 320 Park Avenue,
New York, New York
10022.
This
press release does not constitute an offer to sell or a solicitation of an
offer to buy, nor may there be any sale of Harvest's common stock in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities law of any state or
jurisdiction.
About Harvest
Natural Resources
Harvest Natural Resources, Inc., headquartered
in Houston, Texas,
is an independent energy company with principal operations in Venezuela,
exploration assets in Indonesia, West Africa, China and Oman and
business development offices in Singapore and
the United Kingdom.� For
more information visit the Company's website at www.harvestnr.com.
CONTACT:
Stephen C. Haynes
Vice President, Chief Financial Officer
(281) 899-5716
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 of
amounts and timing of sales of securities, 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 2011 Annual Report
on Form 10-K and other public filings.
SOURCE Harvest
Natural Resources, Inc.