Arena Resources, Inc. Announces Increase and Extension of Credit Facility
Tulsa, Oklahoma — March 31, 2006 — Arena Resources, Inc. (AMEX: ARD, ARD.WS) ("Arena") ("Company") announced today its existing credit facility with MidFirst Bank has been increased to a maximum of $150,000,000, with an immediate initial borrowing base of $65,000,000. Prior to the increase the credit facility had a $50,000,000 maximum with a $35,000,000 borrowing base. The agreement was extended for three years from the date of closing.

The existing agreement was modified and restated to incorporate a syndicated credit agreement with MidFirst Bank remaining as agent for the syndicate which includes Compass Bank and Bank of Scotland.

The interest rate on the credit facility is a floating rate equal to the 30, 60 or 90 day LIBOR rate plus 2%.

Mr. Tim Rochford, President & CEO, stated, "This increase in our credit facility not only provides us additional coverage for our 2006 CAPEX budget of $65,000,000, but also provides us the flexibility for possible increases to our CAPEX budget while aggressively seeking additional acquisitions."

  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:
K M Financial, Inc.
Bill Parsons 480-947-1589
k-m-financial@msn.com 		 
 
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