Arena Resources, Inc. Announces Issuance of 1.15 Million Shares in Private Placement
Tulsa, Oklahoma — May 30, 2006 — Arena Resources, Inc. (AMEX: ARD, ARD.WS) ("Arena") ("Company") today announced it has entered into definitive agreements with institutional investors to sell 1,150,000 shares of the Company's common stock in a private placement for $28.04 per share, a 5% discount to the Company's closing price on the AMEX on Wednesday, May 24, 2006, the pricing day. The securities sold have not been registered under the Securities Act of 1933 or any state securities law, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The net proceeds from the private placement, after agents' fees, are approximately $30.3 million. The funds will be used to bridge the deficit between estimated 2006 cash flow and the Company's current 2006 CAPEX budget of $65 million, and will allow the Company to keep 100% of its credit facility available.
  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 		 
 
  12.07.06
 Arena Resources, Inc. Adds
4.7 Million Barrels of Oil
Equivalent of Proved Reserves
in Permian Basin 		 
  ............................................
11.06.06
Arena Resources, Inc.
Announces Record Production
for Third Quarter 2006
  
  ............................................
10.05.06
Arena Resources, Inc. Announces Record Production for
Third Quarter 2006		  
  ............................................
08.21.06
Arena Resources Announces
Move to New York
Stock Exchange 		 
 

............................................
08.07.06
Arena Resources Announces
Record Second Quarter and
Six Month 2006 Financial
and Operating Results

  
  ............................................
07.25.06
Arena Resources Increases 2006 Capital Expenditure Budget
to $76.5 Million		  
  ............................................
07.12.06
Arena Resources, Inc. Provides Second Quarter 2006
Operations Update		  
  ............................................
05.30.06
Arena Resources, Inc. Announces Issuance of 1.15 Million Shares in Private Placement		  
  ............................................
05.11.06
Arena Resources, Inc. Announces Record Revenues, Earnings, Cash Flow and Production for First
Quarter 2006		  
  ............................................
04.25.06
Arena Resources, Inc. Provides
First Quarter 2006
Operations Update		  
  ............................................
03.31.06
Arena Resources, Inc. Announces Increase and Extension
of Credit Facility 		 
 

............................................
03.17.06
Arena Resources Announces
Record Financial and Operational Results for Fourth Quarter and
Year End 2005

  
  ............................................
02.22.06
Arena Resources, Inc. Announces 2005 Year End Production
and Reserves		  
  ............................................
02.16.06
Arena Resources, Inc. Restates Financial Statements to Reflect Accounting Change Associated
with Employee Options		  
  ............................................
01.27.06
Arena Resources Provides Fourth Quarter 2005 Operations Update 		 
   
       
      © 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