Arena Resources Announces Two-for-One Split

Arena Resources Inc., a Tulsa-based an oil and gas exploration, development and production company, today announced that its Board of Directors has approved a two-for-one stock split of its common stock effective to shareholders of record at the close of business on October 15, 2007.

The split will be in the form of a stock dividend, with one additional share distributed for every share held on or about October 26, 2007. Following the proposed stock split, Arena will have approximately 34.1 million shares of common stock outstanding.

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