HKN, Inc. announced earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported total revenues of $185,000. Loss from operations was $810,000 against $951,000 a year ago. Loss from continuing operations was $300,000 against $799,000 a year ago. Net loss attributable to HKN, Inc. was $406,000 against net income attributable to HKN, Inc. of $152,000 a year ago. Net loss attributable to common stock was $410,000 or $0.94 per basic and diluted share against net income attributable to common stock of $148,000 or $0.32 per basic and diluted share a year ago.

The company's loss from continuing operations decreased approximately 36% from $2.8 million in the first nine months of 2011 to $1.8 million for the first nine months of 2012. The majority of the decrease was due to increased interest income from its related party notes receivable as a result of the additional $12 million loan issued to Global in January 2012. The current period operating loss also improved marginally due to the results from the company's Gerrity Oil joint venture that began operations in July 2012. These improvements were partially offset by increased commercialization costs at BriteWater. Total revenues were $185,000. Loss from operations was $3,237,000 against $3,244,000 a year ago. Loss from continuing operations was $1,788,000 against $2,805,000 a year ago. Net loss attributable to HKN, Inc. was $2,183,000 against net income attributable to HKN, Inc. of $718,000 a year ago. Net loss attributable to common stock was $2,187,000 or $4.89 per basic and diluted share against net income attributable to common stock of $722,000 or $1.90 per basic and diluted share a year ago.