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Warren Resources Announces Commencement of Public Offering of Common Stock

NEW YORK, Oct. 22, 2009 (GLOBE NEWSWIRE) -- Warren Resources, Inc. (the "Company") (Nasdaq:WRES), an oil and gas exploration and production company, today announced that it is commencing an offering of shares of its common stock in a public offering. BMO Capital Markets and RBC Capital Markets are acting as the joint book runners for the offering.

The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission dated September 28, 2009, which became effective on October 2, 2009. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

When available, copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting BMO Capital Markets, by mail at 3 Times Square, 27th Floor, New York, NY 10036, Attention: Lori Begley or by telephone at (212) 885-4039.

About Warren Resources

Warren Resources, Inc. is an independent energy company engaged in the exploration and development of domestic oil and natural gas reserves. Warren's activities are primarily focused on oil properties in the Wilmington field in California and coalbed methane properties in the Washakie Basin in Wyoming. The Company is headquartered in New York, New York, and its exploration and development subsidiary, Warren E&P, Inc., has offices in Casper, Wyoming and Long Beach, California.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Warren believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. See "Risk Factors" in the Company's Annual Report on Form 10-K, our Quarterly Reports on Forms 10-Q and other public filings with the Securities and Exchange Commission (www.sec.gov).

CONTACT: Warren Resources, Inc.
         Media Contact:
         David E. Fleming
         212-697-9660