Magnum Hunter Announces Sale of Common Stock

Magnum Hunter Resources, Inc. (NYSE: MHR) has sold 15,000,000 shares of Magnum Hunter common stock at $10.25 per share under a previously filed universal shelf registration statement. The net proceeds, before expenses, to Magnum Hunter will be approximately $147.6 million. Magnum Hunter has granted the underwriters an option to purchase an additional 2,250,000 shares to cover over-allotments. Magnum Hunter expects to use the net proceeds from this offering to finance a portion of its pending acquisition of assets from a subsidiary of EnCana Corporation, with the remainder of the purchase price to be financed by borrowings under its credit facility.

Lehman Brothers and Deutsche Bank Securities served as joint book-running managers for the offering. Copies of the prospectus relating to the offering may be obtained from Lehman Brothers Inc. c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York 11717, and Deutsche Bank Securities Inc., 60 Wall Street, Fourth Floor, New York, New York 10005.

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

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