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Warren Resources Announces Fourth Quarter and Year-End 2004 Earnings and 2004 Proved Reserves Conference Call

NEW YORK, February 18, 2005 --Warren Resources, Inc. (NASDAQ: WRES), an independent oil and gas exploration and production company ("Warren'), will report fourth quarter and year-end 2004 financial and operating results and 2004 proved reserves on Wednesday, March 2, 2005 by issuing a press release before the market opens and conducting a conference call on that date at 10:00 a.m. Eastern Time (9 a.m. Central Time).

You are invited to listen to Warren's conference call being webcast live over the internet by accessing Warren's website at www.warrenresources.com and by clicking on the event hyperlink.

If you are unable to participate during the live broadcast, the call will be archived on Warren's website for approximately 30 days. A telephonic replay will also be available through midnight, March 9, 2005 by dialing (888) 286-8010, pass code 63416951.

The webcast is also being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at www.fulldisclosure.com, Thomson/CCBN's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson's password-protected event management site, StreetEvents (www.streetevents.com).

Warren Resources, Inc. is a growing independent energy company engaged in the exploration and development of domestic natural gas and oil reserves. Warren is primarily focused on the exploration and development of coalbed methane properties located in the Rocky Mountain region and its water flood oil recovery program in the Wilmington Unit located in the Los Angeles Basin of California. Warren is headquartered in New York, New York, and its exploration and development subsidiary, Warren E&P, Inc., is headquartered in Casper, Wyoming.