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11/20/02
Arena Resources, Inc. Announces Third Quarter and Nine Month 2002
Financial and Operating Results
09/16/02
Arena Resources, Inc. Acquires 3,200 Acres of Production Leases
in Oklahoma
08/20/02
Arena Resources, Inc. Announces First Conversion of Preferred Shares
08/09/02
Arena Resources, Inc. Announces Second Quarter and Six Month 2002
Financial and Operating Results
07/31/02
Arena Resources, Inc. Acquires Oklahoma Production Lease
07/17/02
Arena Resources, Inc. Enters Into Agreement to Acquire Oklahoma
Production Lease
07/10/02
Arena Resources, Inc. Announces Completion of Private Placement
07/01/02
Arena Resources, Inc. Acquires 1,430 Acre Producing Lease in Oklahoma
06/19/02
Arena Resources, Inc. Signs Letter of Intent to Aquire Oklahoma
05/23/02
Arena Resources, Inc. Increases Working Interest, Acreage in Kansas
05/14/02
Arena Resources, Inc. Announces First Quarter 2002 Financial and
Operating Results
05/07/02
Arena Resources, Inc. Successfully Drills First Kansas Well
05/02/02
Arena Resources, Inc. Adds an Estimated 1.2 Million Barrels of Oil
with Texas Mineral Lease Acquisition
04/09/02
Arena Resources, Inc. Enters into Letter of Intent on 570 Acres
Texas Mineral Lease for Secondary Recovery Project
03/27/02
Arena Resources, Inc. Reports 2001 Results of Operations, New CFO
01/07/02
Arena Resources, Inc. Commences Production on Oklahoma Well
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Arena Resources, Inc. Increases Working
Interest, Acreage in Kansas
Tulsa,
Oklahoma — May 23, 2002 — Arena Resources,
Inc. (OTCBB: ARRI) ("Arena") Thursday announced that
it has increased its net working interest in a Kansas
prospect previously announced.
Arena has acquired an additional 27 percent net working
interest in the Kohne No. 1 located in Haskell County.
The Kohne No. 1 was drilled to an approximate depth
of 2,800 feet. Arena management anticipates that the
well will be completed and readied for production over
the next 60 to 90 days.
The Kohne No. 1 in the Auntie Em Prospect, is the first
well drilled by Arena on an approximate 1,200 acre lease
under a farmout agreement recently entered into by the
company. Arena, after recovery of its costs, will now
have a 75 percent net working interest in the well.
The company also announced it has increased its acreage
position near the Auntie Em Prospect and continues to
evaluate opportunities to acquire additional lease holdings
in the immediate area.
Arena Resources Inc. is an oil and gas exploration,
development and production company with current operations
in Texas, Oklahoma and Kansas.
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.
Contact: K M Financial, Inc.
Bill Parsons
480-947-1589
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