Harvest reports Indonesian operation update

The following is an excerpt taken from Houston-based firm Harvest Natural Resources, Inc?s third quarter 2009 results, released on Friday. (ed)

Budong-Budong, onshore West Sulawesi (Harvest 47%)

The interpretation of 650 kilometers of 2-D seismic was completed in the third quarter 2009. Current activities include well planning. It is expected that the first of two exploration wells will spud in the fourth quarter of 2009.

In accordance with the farm-in agreement, we expect to fund 100 percent of the well expenditures to earn our 47 percent working interest up to a cap of $10.7 million; thereafter, we will pay in proportion to our working interest.

During the nine months ended September 30, 2009, we incurred $0.1 million for surveying, permitting, engineering and well planning and $1.2 million for seismic processing and interpretation.

The projected 2009 project expenditures (net to us including our funding commitment) for the exploratory well drilling are $8.1 million.(end of excerpt)