Warren Resources of California Inc. and Warren E&P Inc., subsidiaries of Warren Resources Inc., New York, (Nasdaq: WRES) plan to acquire substantially all of the interests of Global Oil Production LLC and Wilmington Management LLC in the North Wilmington Unit Field in the Los Angeles Basin for $23 million. The purchase includes a 100% working interest in approximately 875 acres of rights in Wilmington, California. Closing is expected by the end of December. The purchase includes proved reserves of approximately 19.8 million barrels of oil equivalent, of which 1.7 million barrels are proved developed producing and 18.1 million barrels are proved undeveloped reserves. Current gross production from 46 wells on the properties is some 400 barrels of oil equivalent per day (338 barrels equivalent net to Warren).