Arena Resources, Inc. Appoints Phil Terry Chief Executive Officer
May 21 2008 - 8:00AM
Business Wire
Arena Resources, Inc. (NYSE: ARD) (�Company�)(�Arena�) announced
effective, May 20, 2008, that Mr. Phil Terry has been appointed to
the position of Chief Executive Officer (�CEO�). Mr. Terry has been
the President and Chief Operating Officer of the Company since
February 1, 2007, and manager of all engineering and field
operations since April 2003. Mr. Terry received his Bachelor of
Science degree in Mechanical Engineering from Oklahoma State
University in 1970, and is a registered Professional Petroleum
Engineer with over 36 years of oil and gas experience in
engineering, production, drilling, completions, reservoir
engineering, property evaluations and corporate management in
Oklahoma, Texas, New Mexico, Wyoming and Kansas. The Company also
announced that Mr. Tim Rochford, co-founder and former CEO of
Arena, has accepted the position of Chairman of the Board
(�Chairman�), also effective May 20, 2008. Mr. Tim Rochford,
Chairman of Arena, stated, �It is with great pleasure and
confidence that the board of directors has offered and Phil Terry
has accepted the position of Chief Executive Officer. Stan McCabe,
former Chairman, and I, as the original co-founders of Arena, could
not be more pleased. Phil has demonstrated from day one a complete
understanding of what is required in building a young, rapidly
growing company. Our growth and success to date is directly related
to Phil�s knowledge of the areas where our properties are located,
the ongoing strategy for the development of those properties, and
because of his personal reputation within the industry, ability to
attract experienced, quality personnel. Although I won�t be as
active in the day-to-day operations, I intend to be very involved
in the continued development and growth of the Company, expansion
of strategic industry relationships and the ongoing development of
acquisition opportunities.� 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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