2009-08-11-2007-10-01-2007-10-01

Acquired shares bringing ownership to 25%.

HKN Inc., Dallas, (Amex: HKN) has acquired 8 million shares of Spitfire Energy Ltd., Calgary, (Toronto Venture: SEL) at C$0.50 each in a deal valued at C$4 million. The deal increases HKN's holdings to 10.9 million shares, representing approximately 25.4% of Spitfire's outstanding shares. As part of the deal, two HKN officers will join the Spitfire board. Spitfire's assets include properties in the Plato, Fosterton and Antelope areas of Saskatchewan and the Athabasca, Narrows, Princess, Alderson, Koomati, Lait and Comrey areas of Alberta. Production is 174.5 barrels of oil and 613,700 cubic feet of gas per day. Net proved reserves 1.1 million gross barrels of oil equivalent (959,000 proved producing, 93% oil) and proved and net probable reserves are 1.8 million barrels equivalent (90% oil).