-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MjeLFX1iDAtU/N2vkEvcYOxDfXR9Mp8JxOfvgb5DZTjwWDhdTv7vCuOVtxXkycZk 1IoUhYJqH/qpbTqSX53wwA== 0001104659-08-045441.txt : 20080714 0001104659-08-045441.hdr.sgml : 20080714 20080714133152 ACCESSION NUMBER: 0001104659-08-045441 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080714 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20080714 DATE AS OF CHANGE: 20080714 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HKN, Inc. CENTRAL INDEX KEY: 0000313478 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 952841597 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10262 FILM NUMBER: 08950389 BUSINESS ADDRESS: STREET 1: 580 WESTLAKE PARK BLVD SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 2815044000 MAIL ADDRESS: STREET 1: 580 WESTLAKE PARK BLVD STREET 2: STE 600 CITY: HOUSTON STATE: TX ZIP: 77079 FORMER COMPANY: FORMER CONFORMED NAME: HARKEN ENERGY CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: HARKEN OIL & GAS INC DATE OF NAME CHANGE: 19890109 8-K 1 a08-19302_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 8-K

 

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported):  July 14, 2008

 

 

HKN, INC.

(Exact Name of registrant as specified in its charter)

 

 

Delaware

(State or other jurisdiction of incorporation)

 

1-10262

(Commission File Number)

 

 

95-2841597

(IRS Employer Identification No.)

 

180 State Street, Suite 200

Southlake, Texas

 (Address of Principal Executive Offices)

 


76092

(Zip Code)

 

Registrant’s telephone number, including area code:  (817) 424-2424

 

Former Name or Former Address, if Changed Since Last Report:

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

ITEM 7.01 REGULATION FD DISCLOSURE

 

HKN, Inc. has retained Lantana Oil & Gas Partners (“Lantana”) to market its Operated Working Interest in Main Pass Block 35 in Plaquemines Parish, Louisiana (the “Main Pass 35 Assets”).

 

The Main Pass 35 Assets consist of 7 linked platforms, 75 oil completions, 6 injection wells, 1 fresh water well, an 8-mile crude oil sales line, with associated gas lift and flow lines.  Interests to be conveyed will be a 90% Operated working interest and 71.75% net revenue interest.  There are 2,760.84 gross acres with speculative 3D seismic coverage on entire property.

 

The Main Pass 35 Assets have current production of 460 barrels of oil per day (“BOPD”) Gross and 330 BOPD Net (25 proved developed producing (“PDP”) wells), monthly Cash Flow of $942,000 (May 2008), and established infrastructure provides consistent 3rd party handling fees of $1.7 MM per year.

 

A Reserve Report dated May 1, 2008 shows PDP reserves of 1.455 MMBO with a PV10 of $38.8MM, total Net Proved Reserves of 2.052 MMBOE, with a net PV10 of $60.76 MM, and significant Behind Pipe and Shut-In Reserves.  A deep lead with 31.5 BCF potential has been identified using available speculative 3D seismic.

 

Per Lantana’s current marketing timetable, bids from qualified and interested potential purchasers will be due August 19, 2008.

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

HKN, INC.

 

 

 

(Registrant)

 

 

 

 

 

Date:  July 14, 2008

 

By:

/s/ ELMER A. JOHNSTON

 

 

 

Elmer A. Johnston

 

 

 

Secretary and General Counsel

 

 

 

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