| |
Arena Resources, Inc. Announces Separation
of Units
Tulsa,
Oklahoma — October 29, 2004 — Arena Resources,
Inc. (AMEX: ARD.U, ARD) ("Arena")("Company")
announced today that it will divide its Units issued
in its recent public offering into their separate components
of Common Stock and Warrants. The separation will occur
upon commencement of trading on December 1, 2004. The
Company has notified the American Stock Exchange of
this pending separation of Units.
The Units have traded under the symbol ARD.U since the
Company completed its public offering in August of 2004.
Each Unit is comprised of one share of Common Stock
and one Warrant exercisable to purchase one share of
Common Stock at $7.32 through August 9, 2008. When separated,
the Common Stock and Warrants will trade individually
on the AMEX under the symbols ARD and ARD.WS, respectively,
and the Units will cease to exist.
For more information on the Company's Units, Common
Stock and Warrants, please refer to the Company's prospectus
dated August 10, 2004, a copy of which can be obtained
on the Securities and Exchange Commission's 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
|
|
