Arena Resources Announces Rig Purchase and
Acceleration of 2006 CAPEX Budget
Rig anticipated to be in operation by end of first quarter 2006
Tulsa, Oklahoma — December 8, 2005 — Arena Resources, Inc. (AMEX: ARD, ARD.WS) ("Arena") ("Company") announced today it has purchased a drilling rig which initially will be used exclusively as a second rig on the Company's Fuhrman-Mascho leases in Andrews County, Texas . The rig is currently being refurbished and will be capable of drilling to a depth of 9,000 feet. Management initiated development work on the Fuhrman-Mascho in mid April, 2005 with one contract drilling rig and projects it will drill and complete 35 development wells and re-frac 20 existing wells by year end 2005. The $1.5 million cost of the rig will be paid from current cash balances.

Prior to the purchase of the rig, management had announced an estimated 2006 capital expenditure budget of $35 million, which included the anticipated drilling of 90 development wells and over 40 re-fracs and re-entries. With the addition of the second drilling rig, the Company estimates it will drill approximately 130 development wells out of its inventory of over 540 drilling locations and perform over 70 re-fracs and re-entries on an estimated 2006 capital expenditure budget of $55 – $60 million, exclusive of any additional acquisitions; however, management will examine and refine the proposed budget more closely at year end. The Company will finance the accelerated budget through current cash balances, anticipated cash flow from operations and, if necessary, by utilizing its currently unused $50 million bank credit facility.

Mr. Tim Rochford, President and CEO stated, "The increase in the 2006 budget is directly related to the accelerated development schedule of our Fuhrman-Mascho lease. Our new rig will be used only on our own properties and allows us to plan ahead without the current uncertainties of increased costs and rig availability. We anticipate the rig to be in operation on our Fuhrman-Mascho lease no later than the end of the first quarter 2006."

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