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





 


Arena Resources, Inc. Announces Second Quarter and Six Month 2002
Tulsa, Oklahoma — August 9, 2002 — Arena Resources, Inc. (OTCBB: ARRI) ("Arena") today announced financial results for the second quarter and six months ended June 30, 2002.

Arena had net income of $35,790 before preferred stock dividends on oil and gas revenues of $159,435 for the second quarter compared to a net loss of $9,137 on no revenues for the quarter ended June 30, 2001 while the company was still in the developmental stages.

The company reported net income of $55,868 before preferred stock dividends on oil and gas revenues of $295,538 for the six month period ended June 30, 2002 compared to a net loss of $28,337 for the six month period ended June 30, 2001.

Net loss after preferred stock dividends for the second quarter was $135,661 or $0.04 per share and $155,289 or $0.04 per share for the six month period ended June 30, 2002. No preferred stock dividends were paid for the comparable periods in 2001.

Net cash flow from operations for the six months ended June 30, 2002 was $137,847, compared to a negative net cash flow of $22,337 for the same period in 2001.

As of June 30, 2002 the company had net working capital of $894,558 compared to $379,468 as of June 30, 2001.

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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