Hibernia Research Report Discloses Relationship with Arena Resources

The Hibernia research report that was released this past Friday leads one to believe that a transaction involving a property acquisition may have occurred or will occur in the near future.

Consider the following timeline:

1. February 6, 2006.
Arena CEO Tim Rochford in an audio interview states his desire to, ""Look to see this company continue to grow production and cashflow but I think most importantly net asset value per share."

2. March 31, 2006.
Arena Resources Announces increase and extension of credit facility from $50 million to $150 million. Click here to see historical significance.

3. April 5, 2006.
ARD Blog Headline reads, "ARD Acquisition Announcement Imminent."

4. April 21, 2006.
Hibernia research report issued stating, "We expect further acquisitions to occur in 2006." (Page 6.) Hibernia also discloses in the same research report they expect, "...to receive, or intends to seek, compensation for investment banking services from Arena Resources, Inc. within the next three months." (Page 7.)

My question is this: What kind of investment banking services will ARD receive in the next three months? Could it be services required to make an acquisition? Absolutely! Expect an acquisition announcement in the next three months that will dwarf the Furhman-Mascho acquisition announcment of 2005. (I have no inside information. I'm just "connecting all the dots.")