8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 25, 2008

Harvest Natural Resources, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	1-10762	77-0196707
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1177 Enclave Parkway, Suite 300, Houston, Texas		77077
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 281-899-5720

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 25, 2008, Mr. Steven W. Tholen informed Harvest Natural Resources, Inc. (the "Company") that he will retire as an employee of the Company effective May 31, 2008. Mr. Tholen is currently the Senior Vice President and Chief Financial Officer of the Company.

On April 28, 2008, Mr. Kurt A. Nelson informed the Company that he will retire as an employee of the Company effective May 31, 2008. Mr. Nelson is currently the Company’s Vice President and Controller (principal accounting officer).

On April 29, 2008, the Board of Directors of the Company elected Mr. Stephen C. Haynes, age 51, as Vice President, Chief Financial Officer and Treasurer of the Company effective May 19, 2008. Mr. Haynes will be designated as the Company’s principal financial officer and principal accounting officer. Mr. Haynes will receive a salary of $235,000 per year for his services to the Company. As a further inducement to Mr. Haynes to accept employment with the Company, effective May 19, 2008, t he Board of Directors of the Company awarded Mr. Haynes options to purchase 50,000 shares of the Company’s common stock, par value $.01 per share ("Common Stock"), vesting over a three year period, and 20,000 restricted shares of the Company’s Common Stock with a three year restriction period commencing on May 19, 2008.

From 2006 until October 2007, Mr. Haynes served as Chief Financial Officer of Cygnus Oil and Gas Corporation, an oil and gas exploration and production company. His responsibilities as Chief Financial Officer of Cygnus included obtaining debt and equity financing, ensuring compliance with securities reporting requirements, and supervising domestic and international cash management and investment. Since October 2007, Mr. Haynes has provided business and financial consulting services for a variety of oil and gas exploration, power generation, and pipeline companies. Prior to his employment with Cygnus, Mr. Haynes held the position of Corporate Controller of Carrizo Oil & Gas, Inc., an oil and gas exploration and production company, where he, among other responsibilities, coordinated joint venture and audit activities and ensured compliance with securities reporting requirements. Before joining Carrizo Oil & Gas, Inc. in 2005, Mr. Haynes provided business and financial consulting services for a variety of oil and gas exploration, power generation, and pipeline companies. From 1990 to 2000, he served in a series of increasingly responsible positions with British Gas plc, a natural gas supply and services company, culminating in his appointment as Vice President-Finance of Atlantic LNG, a joint venture of British Gas plc and several industry partners in Trinidad and Tobago. Mr. Haynes is a Certified Public Accountant, holds a Master of Business Administration degree with a concentration in Finance from the University of Houston and a Bachelor of Business Administration degree in Accounting from Sam Houston State University. He also attended the Executive Development Prog ram at Harvard University.

The Company will file Mr. Haynes’ employment agreement when it has been finalized.

Item 9.01 Financial Statements and Exhibits.

Press release dated May 1, 2008, announcing that Stephen C. Haynes has been elected Vice President, Chief Financial Officer and Treasurer of Harvest Natural Resources, Inc. effective May 19, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Harvest Natural Resources, Inc.
May 1, 2008	By:	Keith L. Head
		Name: Keith L. Head
		Title: Vice President, General Counsel and Corporate Secretary

Exhibit Index

Exhibit No.	Description
99.1	Press release dated May 1, 2008, announcing that Stephen C. Haynes has been elected Vice President, Chief Financial Officer and Treasurer of Harvest Natural Resources, Inc. effective May 19, 2008.

EX-99.1

FOR IMMEDIATE RELEASE

HARVEST NATURAL RESOURCES ANNOUNCES NEW

CHIEF FINANCIAL OFFICER AND CONTROLLER

HOUSTON, Texas (May 1, 2008) – Harvest Natural Resources, Inc. (NYSE: HNR) today announced that Mr. Stephen C. Haynes has been elected as Vice President, Chief Financial Officer and Treasurer by the Board of Directors effective May 19, 2008. Previously, Mr. Haynes served as Chief Financial Officer for Cygnus Oil and Gas Corporation. Before joining Cygnus, Mr. Haynes was the Corporate Controller with Carrizo Oil and Gas. Over a 10 year period, he served in a series of increasingly responsible positions with British Gas, culminating in his appointments as Vice President-Finance of Atlantic LNG, a joint venture of British Gas and several industry partners in Trinidad and Tobago.

Mr. Haynes is a Certified Public Accountant, holds a Master of Business Administration degree with a concentration in Finance from the University of Houston and a Bachelor of Business Administration degree in Accounting from Sam Houston State University. He also attended the Executive Development Program at Harvard University.

Harvest also appointed Ms. Johnnye S. Yearwood as Controller. Since December 1993, Ms. Yearwood has served in several capacities at Harvest, most recently as Assistant Controller. Ms. Yearwood received a Bachelors of Science degree with emphasis in accounting from California State College in Bakersfield, California in 1982. Ms. Yearwood is a Certified Public Accountant.

Mr. Haynes will replace Mr. Steven W. Tholen, Senior Vice President and Chief Financial Officer, who will retire effective May 31, 2008. Ms. Yearwood will replace Mr. Kurt A. Nelson, Vice President and Controller, who will also retire effective May 31, 2008. Mr. Haynes and Mr. Tholen will work together to insure an orderly transition of roles and responsibilities.

Harvest President and Chief Executive Officer, James A. Edmiston, said, “Both Steve and Kurt have made significant contributions to Harvest over the past several years. A solid foundation has been laid for Harvest under their leadership. Steve Haynes and Johnnye Yearwood will bring the skills and the experience to build on that foundation as we move into the future.”

Harvest Senior Vice President and Chief Financial Officer, Steven W. Tholen, said, “I have thoroughly enjoyed my seven years at Harvest. They have been both challenging and rewarding. Although it is difficult to leave the Harvest team, my wife and I are looking forward to a very active retirement.”

Harvest Natural Resources

Harvest Natural Resources, Inc. headquartered in Houston, Texas, is an independent energy company with principal operations in Venezuela, exploration assets in the United States, Indonesia, Gabon and China, and business development offices in London and Singapore. For more information visit the Company’s website at www.harvestnr.com.

CONTACT:
Steven W. Tholen
Senior Vice President, Chief Financial Officer
(281) 899-5714

“This press release may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. They include estimates and timing of expected oil and gas production, oil and gas reserve projections of future oil pricing, future expenses, planned capital expenditures, anticipated cash flow and our business strategy. All statements other than statements of historical facts may constitute forward-looking statements. Although Harvest believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from Harvest’s expectations as a result of factors discussed in Harvest’s 2007 Annual Report on Form 10-K and other public filings.”