Arena Resources Announces 2007 Capital Expenditure Budget of $94.6 Million
Tulsa, Oklahoma — January 17, 2007 — Arena Resources, Inc. (AMEX: ARD) ("Arena" or the "Company") announced today an initial capital expenditure budget (“CAPEX”) of $94.6 million for 2007, a 9% increase over the estimated $86.9 million spent on the development of Company properties in 2006. The budget targets 118 new wells to be drilled, 100 of them on its Fuhrman-Mascho lease in Andrews County, Texas, approximately 40 re-entries of existing wells, installation of water supply lines and equipment, conversion of existing wells into water injectors and general infrastructure upgrades. The Company continues to look for acquisition opportunities but has made no provision in its initial 2007 budget for any acquisition.

The 2007 CAPEX budget is subject to change based on market conditions, commodity price changes, rig availability, drilling results, possible acquisition opportunities and general operational results.

The majority of the budget will again be spent on the Company's Permian Basin properties. The Fuhrman-Mascho, Seven Rivers Queen, North Benson Queen and East Hobbs leases will receive 83% of the 2007 CAPEX budget. In 2006, these leases had 105 development wells drilled with a 100% success rate.

  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:
Bill Parsons • Vice President Investor Relations
480-947-1589 • bparsons@arenaresourcesinc.com 		 
 
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 Arena Resources, Inc. Adds an Estimated Eight Million Barrels
of Oil Equivalent of Proved
Reserves in West Texas 		 
  ............................................
11.09.07
Arena Resources, Inc.
Announces Record Production
for Third Quarter 2006
  
  ............................................
11.07.07
Arena Resources Announces
$6.5 Million of Permian
Basin Acquisitions 		 
  ............................................
11.06.07
Arena Resources Announces
Senior Management
Appointments 		 
 

............................................
08.07.07
Arena Resources, Inc.
Announces Second Quarter
and Six Month 2007 Financial
and Operating Results

  
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06.25.07
Arena Resources, Inc. Announces Completion of $100,450,000 Registered Direct Common
Stock Offering 		 
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06.20.07
Arena Resources Announces
Letter of Intent for Yates
Gas Production 		 
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06.15.07
Arena Resources, Inc. Announces Registered Direct Common
Stock Offering of Up to
2,050,000 Shares 		 
  ............................................
05.10.07
Arena Resources, Inc.
Announces Purchase of
Second Drilling Rig 		 
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05.07.07
Arena Resources, Inc. Announces Financial and Operational
Results for First Quarter 2007		  
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04.19.07
Arena Resources, Inc. Announces
First Quarter 2007
Operations Update 		 
 

............................................
04.02.07
Arena Resources, Inc. Announces Financial and Operational Results
for Fourth Quarter and
Year End 2006

  
  ............................................
03.01.07
Arena Resources, Inc. Announces 2006 Year End Production
and Reserves 		 
  ............................................
02.01.07
Arena Resources, Inc.
Announces Senior
Management Appointment		  
  ............................................
01.17.07
Arena Resources Announces
2007 Capital Expenditure
Budget of $94.6 Million 		 
  ............................................
01.16.07
Arena Resources, Inc. Resources Record Fourth Quarter and
Annual Production for 2006 		 
   
       
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