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Arena Resources Inc. Provides Operations Update.

TULSA, OK -- Arena Resources Inc. (AMEX: ARD.U, ARD) ("Arena") provided today an operations update for current activities and the remainder of the 2004 year.

East Hobbs Unit, Lea County, New Mexico -- The first well in a six well developmental drilling program, the EHSAU #3, was drilled to a depth of approximately 4,600 feet. Evaluations of initial tests indicate five commercial pay-zones. Final casing is being set with initial production expected within two weeks. Management expects drilling to start on the second well within the next week with all six wells to be completed and placed in production by year-end.

Following the successful workover of two existing wells in the third quarter, which increased daily production by approximately 100 BOEs (Barrel of Oil Equivalents), management has identified five additional wells as workover candidates to be completed during the fourth quarter.

Auntie Em Unit, Haskell County, Kansas -- Construction and installation has commenced on a seven and one-half mile gas transmission line which will allow two existing gas wells to be placed in production. Completion of the line is expected by the end of November. Management anticipates combined production from the two wells of 400-500 mcf per day based on initial tests. Arena plans on drilling the first of four proposed developmental wells on this lease, subject to drilling rig availability, prior to year-end.

Dodson Unit, Montague County, Texas -- The company will initiate its developmental drilling program on this lease during October 2004. The initial well is to be drilled to an approximate depth of 5,600 feet (Ellenberger Formation). Core samples will be taken to update current available data on the lease, which has already been unitized, for a secondary recovery program (waterflood) to commence in the first quarter of 2005.

About Arena Resources Inc.

Arena Resources Inc. is an oil and gas exploration, development and production company with current operations in Texas, Oklahoma, Kansas and New Mexico.

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.
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 30, 2004
Words:448
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