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Arena Resources Announces 2003 Financial and Operating Results Tulsa, Oklahoma — February 5, 2004 — Arena Resources, Inc. (AMEX: ARD) ("Arena") announced today financial results for the year ended December 31, 2003. Arena had net income of $824,322 on oil and gas revenues of $3,665,477 for the year compared to net income of $402,694 on revenues of $1,657,037 for the year ended December 31, 2002. Income attributable to common shares for the year was $0.12 per diluted share compared to a loss of $395,324 or $(0.09) per diluted share, after preferred stock dividends of $798,018, for the year ended December 31, 2002. Cash provided by operating activities increased to $1,652,950 for the year ended December 31, 2003 from $570,748 for the year ended December 31, 2002. Proved reserves totaled approximately 9.5 million barrels of oil equivalents (BOE), a 45% increase over the 6.5 million BOE for the previous year. Future net revenues, discounted 10%, based on $29.25 per barrel of oil and $3.43 per Mcf, were $91.9 million at year-end 2003. This compares to $62.9 million, using average prices of $24.00 for oil and $3.43 per Mcf, for year-end 2002. The company is in the process of preparing its Form 10-KSB for timely filing.
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| 12.21.04 Arena Resources, Inc. Announces Completion of $10.5 Million Texas Property Acquisition |
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| ............................................ 12.07.04 Arena Resources, Inc. Announces $10.5 Million Texas Property Acquisition |
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| ............................................ 10.29.04 Arena Resources, Inc. Announces Separation of Units |
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| ............................................ 10.28.04 Arena Resources Announces Third Quarter and Nine Month 2004 Financial and Operating Results |
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| ............................................ 08.19.04 Arena Resources Announces Sale of Additional 217,500 Units of Public Secondary Offering |
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| ............................................ 08.16.04 Arena Resources Announces Second Quarter and Six Month 2004 Financial and Operating Results |
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| ............................................ 08.10.04 Arena Resources, Inc. Announces Pricing of Public Offering of 1,450,000 Units |
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| ............................................ 07.27.04 Arena Resources, Inc. Revises Reserve Estimates |
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| ............................................ 05.28.04 Arena Resources Restates First Quarter 2004 Results |
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| ............................................ 05.18.04 Arena Resources Announces First Quarter 2004 Results |
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| ............................................ 04.23.04 Arena Resources Announces Ten Million Dollar New Mexico Lease Acquisition |
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| ............................................ 04.15.04 Arena Resources Signs Letter of Intent to Acquire New Mexico Prospect |
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| ............................................ 02.05.04 Arena Resources Announces 2003 Financial and Operating Results |
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| ............................................ 02.02.04 Arena Resources Announces 2003 Reserve and Production Results |
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| ............................................ 01.21.04 Arena Resources Drills Second Successful Gas Well in Kansas |
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| © COPYRIGHT 2001-2008 ARENA RESOURCES, INC. ALL RIGHTS RESERVED. |
| COMPANY PROFILE :: MANAGEMENT TEAM :: INVESTOR RELATIONS RESEARCH :: PRESS RELEASES/CONFERENCE CALLS :: CORPORATE GOVERNANCE ARENA PRESENTATION :: SEC FILING :: CONTACT US |
