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Arena Resources, Inc. Announces Pricing
of Public Offering of 1,450,000 Units
Tulsa, Oklahoma — August 10, 2004 — Arena
Resources, Inc. (AMEX: ARD) ("Arena") Tulsa, announces
that the public secondary offering of 1,450,000 units,
with each unit consisting of one share of common stock
and one warrant, has been set at $6.10 per unit. The
warrant has an exercise price of 120% of the offering
price, or $7.32 and expires August 9, 2008. The unit
will be trading under the symbol ARD.U.
Neidiger, Tucker, Bruner, Inc. and Lane Capital Markets
are serving as the co-managing underwriters for the
offering.
The underwriters have a 60-day option to purchase up
to an additional 217,500 units for the purpose of covering
over-allotments, if any.
Copies of the final prospectus relating to the offering
may be obtained from Neidiger, Tucker, Bruner, Inc.,
1675 Larimer Ave. Suite 300, Denver, CO 80202 (303)
825-1825. Copies of the registration statement are available
over the Internet at the Securities and Exchange CommissionŐs
website at www.sec.gov.
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
Jim Drewitz, Investor Relations
Jdrewitz@comcast.net
972-355-6070
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