Kendall Law Group Investigates Arena Resources, Inc. Merger for Shareholders

Kendall Law Group is investigating Arena Resources, Inc. (NYSE:ARD) for shareholders in connection to the proposed sale of the Company to SandRidge Energy, Inc. The national securities litigation firm is investigating whether the Board of Directors of ARD properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value of the Company. If you are an ARD shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

On April 4, 2010, Arena and SandRidge announced that they have entered into a merger agreement for SandRidge to acquire Arena in a $6.2 billion transaction. The cash and stock transaction is expected to close in the second or third quarter of 2010. According to the agreement, shareholders will receive $2.50 in cash and 4.7771 shares of SandRidge common stock per ARD share owned. Based on the closing price of SandRidge on April 1, 2010, this transaction values Arena shares at approximately $40, representing a 17% premium over the $34.26 closing price on April 1, 2010. Arena shares closed as high as $42.69 as recently as March 1, 2010 and as high as $45.05 in January, 2010.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States.