0001050234-05-000030 Sample Contracts

PURCHASE AND SALE AGREEMENT

Purchase and Sale Agreement • March 17th, 2005 • Arena Resources Inc • Crude petroleum & natural gas • Texas

• Contract Type
  Purchase and Sale Agreement
• Filed
  March 17th, 2005
• Company
  Arena Resources Inc
• Industry
  Crude petroleum & natural gas
• Jurisdiction
  Texas

This Purchase and Sale Agreement (this “Agreement”) dated as of December 1, 2004, is between Terry N. Stevens, Inc., a Texas corporation (“Stevens”), and the working interest owners listed in Exhibit “A” (the “WI Owners”) (collectively Stevens and the WI Owners are called “Seller”), and Arena Resources, Inc., a Nevada corporation (the “Buyer”).

OPTION AGREEMENT

Option Agreement • March 17th, 2005 • Arena Resources Inc • Crude petroleum & natural gas • Texas

• Contract Type
  Option Agreement
• Filed
  March 17th, 2005
• Company
  Arena Resources Inc
• Industry
  Crude petroleum & natural gas
• Jurisdiction
  Texas

This Option Agreement (this "Agreement") is made and entered into as of the 1st day of December, 2004 by and between Arena Resources, Inc. ("Arena") and Paul D. Friemel & Associates, Inc. (the "Stockholder"), with reference to the following facts:

SECOND AMENDMENT TO CREDIT AGREEMENT

Credit Agreement • March 17th, 2005 • Arena Resources Inc • Crude petroleum & natural gas

• Contract Type
  Credit Agreement
• Filed
  March 17th, 2005
• Company
  Arena Resources Inc
• Industry
  Crude petroleum & natural gas

THIS SECOND AMENDMENT TO CREDIT AGREEMENT, dated effective as of November 16, 2004 (the "Second Amendment"), is made and entered into between ARENA RESOURCES, INC., a Nevada corporation (the "Borrow­er") and MIDFIRST BANK (the "Bank").