April 1999

Company Founded

August 1999

Overhead Funding

June 2000

First Acquisition

January 2000

HI A327 B-1First Drill Well

Arena tested our first discovery well in January 2000, just six months after our initial start-up. The prospect was a relatively inexpensive shallow gas test that was generated by Arena through a 3D seismic-based field study. This prospect was operated by industry partner Hall-Houston. After the discovery, a platform was installed and a second well was drilled. The cumulative production for the project exceeded 13 BCF.