Arena Resources Announces $6.5 Million of Permian Basin Acquisitions
Estimated Proved Reserves In Excess of 4 Million Barrels
Tulsa, Oklahoma — November 7, 2007 — Arena Resources, Inc. (NYSE-ARD)(“Arena”)(“Company”) announced today multiple property acquisitions located in Eddy County, New Mexico and Andrews County, Texas. The Company also announced it has signed Letters of Intent (“LOI”) for the acquisition of two additional properties located in Lea County, New Mexico and Andrews County, Texas, subject to the completion of due diligence and execution of definitive agreements. The purchase price for all the properties is $6,523,500 to be paid from existing cash balances. The effective dates for the completed transactions are October 1, 2007 and November 1, 2007. Closing on the properties with LOIs is scheduled to occur on or before December 1, 2007.

Property Information
The properties consist of approximately 8,900 acres. Arena will be the operator and have an average working interest of 96% and average net revenue interest of 72% in these properties. All of the properties are in close proximity to existing Company-owned assets that are currently in varying stages of development. In addition to the producing wells currently on the properties, internal engineering has identified 120 new potential drilling locations, with the potential for additional locations through increased in-fill drilling and development.

Production and Reserves
The current net production to the Company from the properties is approximately 100 BOE (Barrels of Oil Equivalent) per day. The Company’s initial reserve estimates, as determined by internal engineering evaluations, indicate the properties have approximately 4.2 million BOEs of proved reserves net to Arena. This represents an estimated cost of $1.55 per BOE.

Mr. Tim Rochford, CEO of Arena stated, “All of these newly acquired Permian Basin properties are near assets that are currently being developed and can be serviced out of our Hobbs, New Mexico field office. With the addition of the new properties in Andrews County, Texas, we now have over 20,000 acres at our Fuhrman-Mascho property. We will continue to look for acquisition opportunities that compliment our existing properties.”

  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 		 
 
  12.12.07
 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

  
  ............................................
06.25.07
Arena Resources, Inc. Announces Completion of $100,450,000 Registered Direct Common
Stock Offering 		 
  ............................................
06.20.07
Arena Resources Announces
Letter of Intent for Yates
Gas Production 		 
  ............................................
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 		 
  ............................................
05.07.07
Arena Resources, Inc. Announces Financial and Operational
Results for First Quarter 2007		  
  ............................................
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 		 
   
       
      © 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