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Arena Resources Announces Sale of
Additional 217,500 Units of Public Secondary Offering
Tulsa,
Oklahoma — August 19, 2004 — Arena Resources,
Inc. (AMEX: ARD.U, ARD) ("Arena") Tulsa, announces it
will issue an additional 217,500 units of the public
secondary offering pursuant to the underwriters' exercise
of their over-allotment option granted in connection
with Arena's principal offering of 1,450,000 units which
closed on August 13, 2004. Each unit consists of one
share of common stock and one warrant to purchase one
share of common stock.
The net proceeds to Arena will be $1,182,000. Arena
expects to use the net proceeds from this exercise of
the underwriters' over-allotment option to further assist
in any future lease acquisitions and the development
and enhancement of existing properties.
Neidiger, Tucker, Bruner, Inc. and Lane Capital Markets
served as the co-managing underwriters for the offering.
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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