HKN, Inc. Announces Investment in UniPureEnergy

DALLAS, TX, Jun 30 (MARKET WIRE) --
HKN, Inc. (NYSE Amex: HKN) ("HKN") today announced that it entered into a
Securities Exchange Agreement (the "Agreement") pursuant to which it has
acquired a 19.5% interest in UniPureEnergy Acquisition Co., LLC
("UniPure"), in exchange for the issuance of 1,000,000 restricted shares
of HKN common stock.

UniPure provides patented technologies that upgrade the value and purity
of refined products and provide beneficial economic and positive
environmental impact for disposition of residual fuels and waste
materials.

The Agreement is with the three existing shareholders of UniPure, Quadrant
Management, Inc., ("Quadrant"), UniPureEnergy Acquisition, Ltd. ("UEA")
and Hassan Nemazee (collectively, the "Sellers"). Quadrant and UEA are
affiliates of the Quadrant family. Alan G. Quasha is the Chairman of the
Board of Directors of HKN. Quadrant is the managing member of UniPure.
Pursuant to the terms of the investment, HKN and the Sellers have granted
to one another put and call options with respect to an additional 3,050
units of UniPure. These options are exercisable only if certain conditions
are satisfied prior to June 2012.

As a part of its investment in UniPure, HKN has separately entered into a
Loan Agreement with UniPure pursuant to which HKN will make secured loans
to UniPure and its subsidiaries up to a maximum amount of $2.5 million.
These loans are due and payable on or before June 30, 2012.

HKN, Inc. is an independent energy company focused on enhancing value for
our stockholders through the development of a well-balanced portfolio of
energy-based assets. Additional information may be found at the HKN Web
site, www.hkninc.com. Please e-mail all investor inquiries to
HKNinquiries@ctaintegrated.com.

Certain statements in this announcement and inferences derived therefrom
may be regarded as "forward-looking statements" within the meaning of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on the opinions and estimates of management at the
time the statements are made. Management's current view and plans,
however, are subject to numerous known and unknown risks, uncertainties
and other factors that may cause the actual results, performance, timing
or achievements of HKN to be materially different from any results,
performance, timing or achievements expressed or implied by such
forward-looking statements. The various uncertainties, variables, and
other risks include those discussed in detail in the Company's SEC
filings, including the Annual Report on Form 10-K filed on February 14,
2009. HKN undertakes no duty to update or revise any forward-looking
statements. Actual results may vary materially.

For Further Information Contact:
Investor Relations
Email: Email Contact
www.hkninc.com

Copyright 2009, Market Wire, All rights reserved.

-0-