Arena Resources Inc. (ARD)

Arena Resources, Inc. engages in the acquisition, exploration, development, and production of oil and natural gas properties. It owns interest in oil and gas properties in Oklahoma, Texas, New Mexico, and Kansas. The company’s properties in New Mexico comprise East Hobbs San Andres Unit, Seven Rivers Queen Unit, Humphrey Queen Unit, Langlie Mattix Queen Unit, South Leonard Queen Unit, North Benson Queen Unit, and Red Lake Unit. It also holds interest in Fuhrman Mascho leases located in Andrews County, Texas; Y6 lease located in Fisher County, Texas; Ona Morrow Sand Unit located in Cimarron and Texas Counties, Oklahoma; Eva South Morrow Sand Unit located in Texas County, Oklahoma; and Midwell, Appleby, Smaltz, and Hanes Leases located in Cimarron County, Oklahoma. Arena Resources primarily sells its oil and natural gas production to end users, marketers, and other purchasers. As of December 31, 2007, it had proved reserves of approximately 55,425,711 barrels of oil equivalent. The company, thorough its subsidiaries, also involves in the drilling operations. Arena Resources was founded in 2000 and is based in Tulsa, Oklahoma.

For the nine months ended 30 September 2006, Arena Resources Inc.'s revenues totaled $43.3M, up from $16.5M. Net income totaled $18M, up from $6.4M. Revenues reflect increased sales volume & higher average realized sales prices. Net income also reflects improved operating margins and the presence of net interest income vs. an expense. Arena Resources, Inc. is oil and gas exploration, development and production company.