Arena Resources, Inc. Acquires 3,200 Acres of Production Leases in Oklahoma
Tulsa, Oklahoma — September 16, 2002 — Arena Resources, Inc. (OTCBB: ARRI) ("Arena") today announced that it has finalized the acquisition of mineral leases in Cimarron County, Okla., totaling 3,200 contiguous acres.

One lease consists of approximately 600 acres in which Arena has a 24.5% working interest. The other leases consist of approximately 2,600 acres in which Arena has a 100% working interest and will be the operator. The leases have a total of 10 operating wells. Management intends to increase daily production through further enhancements to existing wells and additional offset drilling.

Arena Resources Inc. has, since July 1, 2002, closed three acquisitions of leases producing approximately 300 BOPD on over 5,400 acres in Texas and Cimarron Counties.

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