Harken Energy sets mandatory conversion date on 5% notes

By Sheri Kasprzak

New York, Sept. 21 - Harken Energy Corp. has set a mandatory conversion date on its 5% senior convertible notes.

Harken gave noticed Wednesday to the note holders that it will exercise its right to convert the notes and all of the notes must be converted by Nov. 4.

The conversion of the notes, which are due on June 30, 2009, would result in the issuance of 7.5 million shares. There is $3.8 million in principal outstanding on the notes.

The company sold $20 million in principal of the notes on July 21, 2004.

Based in Dallas, Harken is an oil and natural gas exploration company.

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