Harvest Natural Resources reports amended rights agreement

By Lisa Kerner

Charlotte, N.C., Aug. 29 - Harvest Natural Resources, Inc. amended its April 15, 2005 rights agreement with Wells Fargo Bank, NA, allowing Mohnish Pabrai and his affiliates to own up to 16.5% of the company's common stock. The amended agreement was included in a form 8-K filing with the Securities and Exchange Commission.

From July 30 to Aug. 22, Harvest Natural reported the purchase of 2,288,600 shares of its common stock at an average price per share of $11.0133. About $24.8 million worth of shares may yet be purchased under the company's plan to repurchase up to $50.0 million of its shares, according to the filing. Harvest Natural Resources is a Houston independent oil and gas exploration and development company.

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