Arena Resources Successfully Drills First Kansas Well.

Business Editors

TULSA, Okla.--(BUSINESS WIRE)--May 7, 2002

Arena Resources Inc. (OTCBB: ARRI) ("Arena") Tuesday announced that it has successfully drilled its first Kansas well.

The Kane No. 1, located in Haskell County, was drilled to an approximate depth of 2,800 feet. Arena management anticipates that the well will be completed and readied for production over the next 60 to 90 days.

The Kane No. 1 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 have a 48 percent net working interest in the well. The company is evaluating 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 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.