Profile: Harvest Natural Resources, Inc. (HNR.N)

Harvest Natural Resources, Inc. (Harvest), incorporated in 1989, is an independent energy company engaged in the acquisition, exploration, development, production and disposition of oil and natural gas properties. The Company focuses on acquiring exploration, development and producing properties in geological basins with active hydrocarbon systems. The Company has acquired and developed significant interests in the Bolivarian Republic of Venezuela (Venezuela) through its subsidiary Harvest Vinccler, S.C.A. (Harvest Vinccler) through its equity affiliate, Petrodelta, S. A. (Petrodelta), which operates a portfolio of properties in eastern Venezuela including large oil fields, as well as properties.

The Company also holds interests in Venezuela, the Gulf Coast Region of the United States through an Area of Mutual Intent (AMI) agreement with a private third party, the Antelope project in the Western United States through a Joint Exploration and Development Agreement (JEDA), and exploration acreage offshore of the People’s Republic of China (China), offshore of the Republic of Gabon (Gabon) and mainly onshore West Sulawesi in the Republic of Indonesia (Indonesia). In September 2008, the Company spud an exploratory well on the Starks prospect, the first prospect in the Gulf Coast AMI, in Calcasieu Parish, Louisiana. The Harvest Hunter #1 well was drilled to a depth of 12,290 feet and three prospective reservoir horizons were tested.

Petrodelta is engaged in the exploration, production, gathering, transportation and storage of hydrocarbons from the Petrodelta Fields. The sale of oil and gas by Petrodelta to the Venezuelan government is pursuant to a Contract for Sale and Purchase of Hydrocarbons with PPSA signed on January 17, 2008. During 2008, Petrodelta drilled and completed eight successful development wells produced approximately 5.5 million barrels of oil and sold 10.7 billion cubic feet (BCF) of natural gas.

Petrodelta commenced drilling operations in the Uracoa field on April 21, 2008. Uracoa Field has 87 oil and natural gas producing wells and six water injection wells in the field. The current production facility has capacity to handle 60 thousand barrels (MBbls) of oil per day, 130 MBbls of water per day, and storage of up to 75 MBbls of crude oil. All natural gas presently being delivered by Petrodelta is produced from the Uracoa field. Tucupita Field has 16 oil producing wells and five water injection wells in the field. The Tucupita production facility has capacity to process 30 MBbls of oil per day, 125 MBbls of water per day and storage for up to 60 MBbls of crude oil. The oil is transported through a 31-mile, 20 MBbls of oil per day pipeline from the Tucupita field to the Uracoa plant facilities. Bombal Field is inactive.

In Isleno field 2-D seismic data is available over a portion of the field. Seven oil appraisal wells have been drilled in Isleno which have confirmed the presence of commercial oil deposits. The Temblador field has 15 oil producing wells. The fluid produced from Temblador field flows through two flow stations operated by Petrodelta to the EPT-1 plant operated by PDVSA. El Salto Field has a total of 31 appraisal wells have been drilled identifying nine productive structures and six productive formations. The field has produced less than 1 million barrels of oil equivalent (Boe).