Arena Resources, Inc. Successfully Drills First Well in Oklahoma
Tulsa, Oklahoma — April 26, 2001 — Arena Resources, Inc. (OTCBB: ARRI) ("Arena") today announced it has successfully drilled its first well in Muskogee County, Oklahoma.

The Casey No. 1 was drilled to an approximate depth of 2,100 feet. Based on samples and electric logs taken, the well encountered two separate formations with each formation averaging in excess of 40 feet of net pay. Arena management believes that the well will be completed and readied for production over the next 30 days.

The company is currently evaluating opportunities to expand existing lease holdings in the immediate area.

Arena owns a 40% working interest in the Casey No. 1.

Arena Resources, Inc. is an oil and gas exploration, development and production company with current operations in Oklahoma.

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. Reaers 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.

Contact: K M Financial, Inc.
Bill Parsons
480-947-1589