EXHIBIT 99.1

(HARVEST NATURAL RESOURCES, INC. LOGO)
                                                           FOR IMMEDIATE RELEASE


                    HARVEST NATURAL RESOURCES CLOSES SALE OF
                                RUSSIAN INTEREST

         HOUSTON, TX - (September 25, 2003) - Harvest Natural Resources, Inc.
(NYSE:HNR) today announced it has closed the sale of its 34 percent interest in
LLC Geoilbent to a subsidiary of the YUKOS Oil Company for $69.5 million.
Harvest also received $5.5 million for the outstanding intercompany loans and
payables owed to Harvest by Geoilbent. Net cash proceeds after payment of
expenses will be approximately $73 million.

         Harvest President and Chief Executive Officer, Dr. Peter J. Hill, said
"The closing of the Geoilbent sale positions our balance sheet with
approximately $150 million of cash available to actively pursue various growth
opportunities in both Russia and Venezuela."

         Harvest Natural Resources, Inc., headquartered in Houston, Texas, is an
independent oil and gas exploration and development company with principal
operations in Venezuela. For more information visit the Company's website at
www.harvestnr.com.

CONTACT:

Steven W. Tholen
Senior Vice President, Chief Financial Officer
(281) 578-8020

         "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. 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 2002 Annual Report on form 10-K and subsequent reports."

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               15835 Park Ten Place Drive * Houston, Texas 77084
                      * ph: 281.579.6700 fax: 281.579.6760