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                                                                    Exhibit 99.3

                            Harken Energy Corporation

                             Shares of Common Stock

                           Offered Pursuant to Rights

                         Distributed to Security Holders

                          of Harken Energy Corporation

_________________, 2002

Dear Security Holder:

         This notice is being distributed by Harken Energy Corporation (the
"Company") to all holders of record of shares of its common stock, par value
$0.01 per share (the "Common Stock"), and holders of record of shares of its
Series G1 preferred stock and Series G2 preferred stock (collectively, the
"Preferred Stock") at the close of business on ______________, 2002 (the "Record
Date"), in connection with a distribution in a rights offering (the "Rights
Offering") of non-transferable subscription rights (the "Rights") to subscribe
for and purchase shares of its Common Stock. The Rights are described in the
Company's prospectus dated _______________, 2002 (the "Prospectus").

         In the Rights Offering, the Company is offering an aggregate of
95,238,096 shares of its Common Stock (the "Underlying Shares"), as described in
the Prospectus.

         The Rights will expire, if not exercised, at 5:00 p.m., New York City
time, on ______________, 2002, unless extended in the sole discretion of the
Company (as it may be extended, the "Expiration Date").

         As described in the Prospectus, you will receive one Right for each
share of Common Stock owned (or in the case of Preferred Stock, one Right for
each share of Common Stock issuable upon conversion) of record as of the close
of business on the Record Date.

         Each subscription right will entitle you to purchase the number of
shares of Common Stock equal to $10 million, divided by the Subscription Price,
divided by ______________, the number of shares of common stock outstanding plus
the number of shares of common stock issuable upon conversion of the Series G1
preferred stock, and Series G2 preferred stock, on the Record Date (the
"Subscription Right"). The Subscription Price for the subscription rights will
equal 70% of the current market price of the common stock. The Company will
determine the current market price of the common stock by averaging the closing
price of the common stock on the American Stock Exchange for the five (5)
trading days immediately preceding the commencement of the offering, except the
current market price will be no greater than $0.50 per share or less than $0.15
per share.

         Lyford Investments Enterprises Ltd., a creditor of the Company, has
agreed to act as a standby underwriter in the offering and will purchase any and
all shares not subscribed for by other stockholders.

         Enclosed are copies of the following documents:

         1.  Prospectus;

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         2.  Rights Certificate;

         3.  Instructions as to Use of Harken Energy Corporation Rights
             Certificates (including a Notice of Guaranteed Delivery for Rights
             Certificates Issued by Harken Energy Corporation and Guidelines for
             Request for Taxpayer Identification Number and Certification on
             Substitute Form W-9); and

         4.  A return envelope addressed to American Stock Transfer & Trust
             Company, the Subscription Agent.

         Your prompt action is requested. To exercise Rights, you should
properly complete and sign the Rights Certificate (or the Notice of Guaranteed
Delivery if you are following the Guaranteed Delivery Procedures) and forward
it, with payment of the Subscription Price in full for each share of Common
Stock subscribed for pursuant to the Subscription Right, to the Subscription
Agent, as indicated in the Prospectus. The Subscription Agent must receive the
Rights Certificate or Notice of Guaranteed Delivery with payment of the
Subscription Price prior to 5:00 p.m., New York City time, on the Expiration
Date. A Rights holder cannot revoke the exercise of its Rights. Rights not
exercised prior to the Expiration Date will expire.

         Additional copies of the enclosed materials may be obtained from the
Subscription Agent. The Subscription Agent's telephone number is (718) 921-8237.

                                    Very truly yours,


                                    HARKEN ENERGY CORPORATION

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