Arena Resources, Inc. Enters Into Agreement to Acquire Oklahoma Production Lease
Tulsa, Oklahoma — July 17, 2002 — Arena Resources, Inc. (OTCBB: ARRI) ("Arena") Wednesday announced that it has entered into an agreement to acquire a 100 percent working interest, approximately 85 percent net revenue interest, in a mineral lease located in Texas County, Okla.

The lease has in excess of 800 acres with existing oil and gas production as well as upside potential through enhancements of existing wells and additional offset drilling and is located in close proximity to another lease recently acquired by Arena in Texas County.

Closing is scheduled to take place on or before July 31, 2002.

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

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:
K M Financial, Inc.
Bill Parsons 480-947-1589		  
 
  11.20.02
Arena Resources, Inc.
Announces Third Quarter and
Nine Month 2002 Financial and Operating Results 		 
  ............................................
09.16.02
Arena Resources, Inc. Acquires
3,200 Acres of Production Leases
in Oklahoma
  
  ............................................
08.20.02
Arena Resources, Inc.
Announces Fisrt Conversion of Preferred Shares		  
  ............................................
08.09.02
Arena Resources, Inc.
Announces Second Quarter
and Six Month 2002 Financial
and Operating Results 		 
 

............................................
07.31.02
Arena Resources, Inc.Acquires Oklahoma Production Lease

  
  ............................................
07.17.02
Arena Resources, Inc. Enters Into Agreement to Acquire Oklahoma Production Lease 		 
  ............................................
07.10.02
Arena Resources, Inc. Announces
Completion of Private Placement 		 
  ............................................
07.01.02
Arena Resources, Inc.
Acquires 1,430 Acre
Producing Lease in Oklahoma 		 
  ............................................
06.19.02
Arena Resources, Inc. Signs
Letter of Intent to
Acquire Oklahoma 		 
  ............................................
05.23.02
Arena Resources, Inc.
Increases Working Interest,
Acreage in Kansas 		 
  ............................................
05.14.02
Arena Resources, Inc. Announces
First Quarter 2002 Financial and Operating Results 		 
 

............................................
05.07.02
Arena Resources, Inc. Announces
Successfully Drills First Kansas Well

  
  ............................................
05.02.02
Arena Resources, Adds an
Estmated 1.2 Million Barrels
of Oil with Texas Mineral
Lease Acquisition 		 
  ............................................
04.09.02
Arena Resources, Inc. Enters into Letter of Intent on 570 Acre Texas Mineral Lease for Secondary Recovery Project 		 
  ............................................
03.27.02
Arena Resources, Inc. Reports 2001
Results of Operation, New CFO 		 
  ............................................
01.07.02
Arena Resources, Inc. Commences
Production on Oklahoma Well 		 
   
       
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