Arena Resources Increases Working Interest, Acreage in Kansas.Business Editors TULSA Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. , Okla.--(BUSINESS WIRE)--May 23, 2002 Arena Resources Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ARRI) ("Arena") Thursday Thursday: see week. announced that it has increased its net working interest in a Kansas Kansas, state, United States Kansas (kăn`zəs), midwestern state occupying the center of the coterminous United States. It is bordered by Missouri (E), Oklahoma (S), Colorado (W), and Nebraska (N). prospect previously announced. Arena has acquired an additional 27 percent net working interest in the Kohne No. 1 located in Haskell County Haskell County is the name of several counties in the United States:
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 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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