The 2007 Capex budget is subject to change based on market conditions, commodity price changes, rig availability, drilling results, possible acquisition opportunities and general operational results.
The majority of the budget will again be spent on the Company's Permian Basin properties. The Fuhrman-Mascho, Seven Rivers Queen, North Benson Queen and East Hobbs leases will receive 83% of the 2007 Capex budget. In 2006, these leases had 105 development wells drilled with a 100% success rate.
Arena Resources, Inc. is an oil and gas exploration, development and production company with current operations in Texas, Oklahoma, Kansas and New Mexico.
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