Harvest Natural Resources Announces Agreement to Exchange Common Stock for Outstanding 8.25% Senior Convertible Notes

Harvest Natural Resources, Inc. HNR announced today that it has entered into exchange agreements with certain holders of the Company's existing 8.25 percent senior convertible notes.  These holders will be issued 3,036,960 shares of the Company's common stock in exchange for $15,984,000 in aggregate principal amount of 8.25 percent senior convertible notes and associated interest. The material terms of the exchange agreements are described in more detail in the Company's Current Report on Form 8-K, to be filed today with the Securities and Exchange Commission.