Arena Resources Enters into Letter of Intent on 570 Acre Texas Mineral Lease for Secondary Recovery Project.Business Editors TULSA, Okla.--(BUSINESS WIRE)--April 9, 2002 Arena Resources Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ARRI) ("Arena") Tuesday announced it has signed a letter of intent to acquire a 100 percent working interest in a mineral lease located in Montague County, Texas Montague County is a county located in the U.S. state of Texas. In 2000, its population was 19,117. Montague is named for Daniel Montague, a surveyor and soldier in the Mexican-American War. The seat of the county is Montague6. Geography According to the U.S. . The lease consists of approximately 570 acres with existing oil and gas production and has produced over 3.7 million barrels of oil under primary recovery mechanisms. Arena management is currently performing its final due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , evaluating all existing data pertinent to the property with the intent to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the acquisition on or before the middle of May 2002. Arena Resources Inc. is an oil and gas exploration, development and production company with current operations in Texas and Oklahoma. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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