Arena Resources Expands Acreage and Ownership in Oklahoma Prospect.

Business Editors

TULSA, Okla.--(BUSINESS WIRE)--Oct. 1, 2001

Arena Resources Inc. (OTCBB:ARRI) ("Arena") Monday announced it has increased its working interest ownership position in the Casey No. 1 ("Casey"), located in Muskogee County, Okla., from 70 percent to 94 percent.

The Casey, drilled to an approximate depth of 2,100 feet, has encountered two separate formations with each formation averaging in excess of 40 feet of net pay based on samples and electric logs taken.

Arena management also announced that it has purchased a 2.5 percent overriding royalty interest in the Casey from third parties, and has leased additional acreage adjoining the well for further development opportunities.

Through this additional ownership, Arena estimates it has increased its proven reserves of natural gas by 750 million cubic feet.

The company anticipates completing and generating initial production from the Casey during this current fiscal quarter.

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

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.