Cimarex Announces $300M Senior Notes Offering

Cimarex Energy Co. has filed a registration statement with the Securities and Exchange Commission relating to the public offering of $300 million principal amount of senior unsecured notes due 2017.

Net proceeds from the offering will be used (i) to redeem the 9.6% senior notes assumed in the Magnum Hunter merger which have a face value of $195 million and (ii) repay amounts currently outstanding under its revolving credit facility. The 9.6% notes are unsecured and are due March 15, 2012. The notes are currently redeemable at 104.8% (expressed as a percentage of the principal amount), plus accrued interest. Borrowings outstanding under the company's revolving credit facility were approximately $161 million as of March 30, 2007.

J.P. Morgan Securities Inc. and Lehman Brothers Inc. will act as joint book-running managers for the offering. The offering will be made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities Inc., 270 Park Ave., 8th Floor, Attention: Syndicate Desk, New York, NY 10017, 212-834-4555; Lehman Brothers Inc., Attention: Prospectus Department, 745 7th Avenue, New York, NY 10019, 888-603-5847. An electronic copy of the prospectus is available from the Securities and Exchange Commission's website at http://www.sec.gov.

Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company with principal operations in the Mid-Continent, Permian Basin and Gulf Coast areas of the U.S.

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