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Arena
Resources Announces Senior
Management Appointments
Tulsa, Oklahoma November 6, 2007
Arena Resources, Inc. (NYSE-ARD)(“Arena”)(“Company”) announced today the appointment of the following individuals to senior management positions:
David D. Ricks, VP Operations – Mr. Ricks is a professional petroleum engineer with over 25 years of industry experience. Mr. Ricks began his career in 1982 as a production engineer in Southeast New Mexico for Gulf Oil Co. Since then he has served in various engineering capacities for Chevron USA, Amerada Hess Corp., Citation Oil and Gas Corp., Newfield Exploration Mid-Continent, Inc., Apache Corp., and Latigo Petroleum, Inc. His duties ranged from maintaining production, designing workovers and recompletions and facility installation, to field supervision of both primary and secondary production, including waterfloods and CO2 floods, primarily in Oklahoma, North and West Texas and Southeast New Mexico.
Thomas W. Wahl, VP Land Dept. – Mr. Wahl has 31 years of diversified petroleum land management experience with particular emphasis in the Mid-continent, Gulf Coast, Permian Basin and Rocky Mountain areas. Prior to joining Arena, Mr. Wahl served as a land manager for both Natomas, N.A., Inc. and Polaris Energy Development Company. His responsibilities ranged from the preparation of a prospect for drilling, including lease acquisition, farmout negotiation and regulatory compliance, to corporate mergers. Mr. Wahl also served nine years as Vice President, Oil and Gas Administrator, Trust Oil and Gas Services for the Bank of Oklahoma. During his tenure, the department experienced three-fold growth in all areas to become one of the largest mineral management organizations in the country. Mr. Wahl is a Certified Professional Landman and is currently a member of the Tulsa Association of Professional Landmen and the American Association of Professional Landmen.
Patric R. McConn, VP Geology / Exploration – Mr. McConn has over 25 years of industry experience as a geologist. Prior to joining Arena, Mr. McConn served as a geologist for Petromark Resources, Polaris Energy Development Company, MBR Resources, Inc., and Summit Exploration, LLC. His duties ranged from prospect generation and well site geology to the evaluation of oil & gas acquisition opportunities, as well as the evaluation of exploitation opportunities within existing company assets.
W. Craig Gaines, Manager Reservoir Engineering / Acquisitions – Mr. Gaines has over 34 years of industry experience as a petroleum and reservoir engineer. Prior to joining Arena, Mr. Gaines served as a reservoir engineer for Texaco, Inc., Chaparral Energy and Mid-Con Energy. His duties included detailed evaluations of old field reservoirs, the evaluation and design of waterfloods and CO2 floods, reservoir characterization, complex geological development and reserve analysis. He also served as a petroleum engineer for GYM Resources and High Plains Production Company, where he was responsible for the generation and development of oil and gas prospects, waterflood design and analysis and redevelopment of mature fields.
R. Darren Seglem, Project Manager / Yates Development – Mr. Seglem has over 19 years of industry experience. Prior to joining Arena, Mr. Seglem was Vice President Drilling and Production for Royalty Exploration, Inc. / Regal Gas Corporation where he supervised all aspects of the company’s drilling and production activities. The company was exclusively involved in the exploitation of the Yates Gas reservoir in Andrews County, Texas. Mr. Seglem was also a co-founder and largest interest owner in the Embar Field, Yates Gas Project, Andrews County, Texas, where his duties included lease operations, acreage acquisitions, drilling and well completions.
Mr. Tim Rochford, CEO of Arena stated, “One of the most sensitive areas of any rapidly growing young company is finding and retaining high quality, experienced people. We are very pleased that individuals such as these have chosen to join Arena and add their valuable expertise to enable us to take advantage of what we believe are exciting growth opportunities ahead of us through the development of existing properties and the acquisition of new assets.”
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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