Arena Resources, Inc. Reports 2002 Results
Tulsa, Oklahoma — March 10, 2003 — Arena Resources Inc. (OTCBB: ARRI - News; "Arena") announced today financial results for the year ended Dec. 31, 2002. Arena had net income of $402,694 before preferred stock dividends on oil and gas revenues of $1,657,037 for the year, compared to $18,165 on revenues of $311,733 for the year ended Dec. 31, 2001. Net loss for the year after preferred stock dividends of $798,018, which includes non-cash dividends of $523,429, was $395,324 or $0.09 per share compared to a loss of $44,927 or $0.01 per share for the year ended Dec. 31, 2001. All preferred stock was converted to common stock during the third quarter of 2002.

Positive cash flow from operations increased to $570,748 for the year ended Dec. 31, 2002, from $84,023 for the year ended Dec. 31, 2001.

Proved reserves totaled more than 6,500,000 barrel of oil equivalents (BOE), compared to 990,000 BOE for the previous year. Future net revenues, both undiscounted and discounted 10 percent, based on $24 per BOE were $112,391,419 and $62,958,528, respectively, at year end.

  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		  
 
  12.18.03
Arena Resources, Inc. Announces Increase in Bank Credit Facility to $20 Million 		 
  ............................................
11.06.03
Arena Resources, Inc. Announces Third Quarter and Nine Month
2003 Financial and Operating
  
  ............................................
10.14.03
Arena Resources Enters into Agreements to Acquire 30 Wells in New Mexico and Texas		  
  ............................................
08.14.03
Arena Resources, Inc. Announces Appointment of Clayton
Woodrum as Director 		 
 

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08.12.03
Arena Resources, Inc.
Announces Second
Quarter and Six Month 2003
Financial and Operating Results

  
  ............................................
07.18.03
Arena Resources Closes
Private Placement		  
  ............................................
05.15.03
Arena Resources, Inc. Announces
First Quarter 2003 Results 		 
  ............................................
05.01.03
Arena Resources Acquires Oil
and Gas Production in New Mexico		  
  ............................................
04.14.03
Arena Resources, Inc.
Announces Initial
Trading Date, Symbol on AMEX 		 
  ............................................
03.24.03
Arena Resources, Inc. Approved
for Listing on AMEX 		 
  ............................................
03.10.03
Arena Resources, Inc. Reports
2002 Results 		 
 

............................................
02.11.03
Arena Resources, Inc.
Secures $10 Million
Credit Facility with Bank
of Oklahoma

  
   
       
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