Arena Resources , Inc. Announces New Mexico Acquisition
Adds Estimated Proved Reserves of 1.2 million Barrels of Oil Equivalent
Tulsa, Oklahoma — June 5, 2008 — Arena Resources, Inc. (NYSE-ARD)(“Arena”)(“Company”) announced today that it has finalized the acquisition of a property located in Lea County, New Mexico for a purchase price of $10,265,000. The property was acquired using existing cash reserves with a closing date of June 3, 2008 and an effective date of June 1, 2008.

Property Information
The property consists of approximately 800 acres and is located in close proximity to the Company’s East Hobbs San Andres Unit acquired in May 2004. Arena will be the operator and have a 100% working interest and average net revenue interest in excess of 75%. The current gross production to the Company from the properties is approximately 100 BOE (Barrels of Oil Equivalent) per day and is over 70% oil. Arena’s engineering team has identified approximately twelve new drilling locations, with the potential to increase that number through additional in-fill drilling and development.

Reserve Estimates
The Company’s initial reserve estimates, as determined by internal engineering evaluations, indicate the properties have an estimated 1.2 million BOEs of proved reserves net to Arena. The proved reserves represent an estimated acquisition cost of $8.55 per BOE and are approximately 50% proved developed producing.     

Mr. Phil Terry, CEO of Arena stated, “This acquisition compliments our East Hobbs Unit and is consistent with our efforts to focus on the continued growth of our core assets. We will be very active the second half of this year in New Mexico with approximately 50 new development wells scheduled to be drilled, as well as additional re-entries of existing wells, conversion of some existing wells to water injectors in preparation for secondary recovery and continued infrastructure improvements.”

  About Arena Resources, Inc.
Arena Resources, Inc. is an oil and gas exploration, development and production company with current operations in Texas, Oklahoma, Kansas and New Mexico.		  

This release contains forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve a wide variety of risks and uncertainties, including, without limitations, statements with respect to the Company's strategy and prospects. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company's ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.
  For further information contact:
Bill Parsons
Vice President Investor Relations
480-947-1589 • bparsons@arenaresourcesinc.com 		 
 
  11.06.08
 Arena Resources Announces
Record Third Quarter and
Nine Month 2008 Financial
and Operating Results 		 
  ............................................
10.29.08
Arena Resources Announces Reduction in 2008 Capital Expenditure Budget
  
  ............................................
10.28.08
Arena Resources Schedules Conference Call on its 2008
3rd Quarter Financial and
Operating Results 		 
  ............................................
10.22.08
Arena Resources, Inc. Announces Record Production in 2008
Third Quarter		  
 

............................................
10.06.08
Arena Resources, Inc. Selected
as the Fastest Growing
Company of 2008 by
Fortune Magazine

  
  ............................................
09.02.08
Arena Resources, Inc.
Announces Opening of
Midland, Texas Office 		 
  ............................................
08.07.08
Arena Resources, Inc. Announces Record Second Quarter and
Six Month 2008 Financial and Operating Results 		 
  ............................................
07.16.08
Arena Resources, Inc.
Announces 2008 Second
Quarter Operations Update 		 
  ............................................
06.23.08
Arena Resources Announces
2008 Capital Expenditure
Increase to $248 Million 		 
  ............................................
06.05.08
Arena Resources, Inc.
Announces New Mexico
Acquisition		  
  ............................................
06.03.08
Arena Resources, Inc.
Announces Completion of Public Common Stock Offering
of 2,501,250 Shares 		 
 

............................................
05.29.08
Arena Resources, Inc.
Announces Pricing of Public
Common Stock Offering

  
  ............................................
05.28.08
Arena Resources, Inc.
Announces Public Offering
of 2,175,000 Shares
of Common Stock 		 
  ............................................
05.21.08
Arena Resources, Inc.
Appoints Phil Terry
Chief Executive Officer		  
  ............................................
05.08.08
Arena Resources Announces
Record Financial Results
for First Quarter 2008 		 
  ............................................
05.01.08
Arena Resources Schedules Conference Call on its 2008 First Quarter Financial and
Operating Results 		 
  ............................................
04.07.08
Arena Resources Announces
2008 First Quarter
Record Production 		 
 

............................................
03.13.08
Arena Resources Announces
Financial and Operational
Results for Fourth Quarter
and Year End 2007

  
  ............................................
02.28.08
Arena Resources, Inc.
Announces 2007 Year End
Reserve and Production 		 
  ............................................
01.31.08
Arena Resources, Inc. Announces Record 2007 Fourth Quarter,
Annual Production and
Initial Capital Expenditure
Budget for 2008 		 
  ............................................
01.07.08
Arena Resources Announces Definitive Agreement for
Yates Gas Production 		 
   
       
      © COPYRIGHT 2001-2009 ARENA RESOURCES, INC. ALL RIGHTS RESERVED.  
      COMPANY PROFILE  ::  MANAGEMENT TEAM  ::  INVESTOR RELATIONS
RESEARCH  ::  PRESS RELEASES/CONFERENCE CALLS  ::  CORPORATE GOVERNANCE
ARENA PRESENTATIONS  ::  SEC FILING  ::  CONTACT US