Harvest Natural Resources Announces Notice of Redemption of 11% Senior Notes

Dec 12, 2013, 18:10 ET from Harvest Natural Resources

HOUSTON, Dec. 12, 2013 /PRNewswire/ -- Harvest Natural Resources, Inc. (NYSE:  HNR) announced today that it has provided to its noteholders a notice of redemption of all of its outstanding 11% Senior Notes due 2014.  In accordance with the indenture governing the notes, they will be redeemed for 100% of their principal amount, currently $79,750,000, plus accrued and unpaid interest as of the redemption date.  The redemption date is January 11, 2014.  As permitted by the indenture, the redemption is conditioned on the successful completion of previously announced negotiations and definitive documents for a transaction under which Harvest would sell its interests in Harvest's Venezuelan assets in two separate transactions, and the successful closing of the first transaction.

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, and China and business development offices in Singapore and the United Kingdom.  For more information visit the Company's website at www.harvestnr.com.

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 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, timing and certainty of future transactions 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 2012 Annual Report on Form 10-K and other public filings.

SOURCE Harvest Natural Resources