September 2, 2008
Arena Resources, Inc. Announces Opening of Midland, Texas Office
Arena Resources, Inc. (NYSE: ARD) ("Company")("Arena") announced today that it has finalized the lease of office space in Midland, Texas ("Midland"), with an anticipated opening date by the end of October. Mr. Will Porter has joined Arena as Permian Basin Land Manager and will manage the new office.
Mr. Porter, a Midland native, has over 23 years of experience in all phases of land work. He graduated from Texas Tech University in 1984 with a Bachelor of Business Administration, with a degree in Petroleum Land Management. Prior to joining Arena, Mr. Porter worked for a number of Midland-based companies including TXO Production Company, ClayDesta National Bank, Perry and Perry, Inc., PLP Partners, Permian Resources, Inc., and Stanolind Oil and Gas Corporation. His responsibilities included title searches, collateralization of oil and gas loans, buying and selling of oil and gas leases and generation of exploration ideas to independent third parties. Mr. Porter is a Certified Professional Landman and the current president of the Permian Basin Landmen's Association.
Mr. Phil Terry, CEO of Arena, stated, "We are very pleased that Will Porter has agreed to join Arena and manage our Midland office. His years of experience and established relationships in the local area will enhance our ability to seek out acquisition opportunities that complement the Company's core Permian Basin assets in west Texas and southeast New Mexico. With already established offices in Hobbs, New Mexico and Andrews, Texas, the Midland office should be of great benefit in expanding the Company's presence in the Permian Basin."
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.