Magnum Hunter Resources announced the appointment of M. Bradley Davis as Senior Vice President of Capital Markets, effective immediately. Mr. Davis will have direct responsibility for the Company's Investor Relations efforts, as well as other specific capital markets and finance related projects.
Mr. Davis has 28 years of experience and direct involvement in all facets of the energy industry, including nine years as a Wall Street Senior Equity Research Analyst specializing in the small-to-mid capitalization independent exploration and production sector. He served from September 2002 until November 2004 as Senior Vice President of Capital Markets and Corporate Development at the "old" Magnum Hunter. From December 2004 until June 2005, when the "old" Magnum Hunter was acquired in a $2.2 billion dollar merger transaction by Cimarex, Inc. (AMEX:XEC - News), Mr. Davis previously served as Senior Vice President and Chief Financial Officer. Since June 2005, Mr. Davis has been an active personal investor in the energy and agricultural sectors. A 1981 graduate of Baylor University (Waco, Texas), Mr. Davis received a Bachelor of Arts degree with majors in Business Administration and Political Science (International Relations).
Mr. Gary C. Evans, Chairman of the Company, commented, "I am very pleased to announce this senior executive level appointment for the Company. I have personally known and worked with Brad Davis now for approximately 15 years. Brad wrote the first institutionally viable equity research report on the 'old' Magnum Hunter back in 1996. When I decided to upgrade our Investor Relations and Capital Markets efforts in 2002, Brad was my first choice. During his tenure at the 'old' Magnum Hunter, Brad was instrumental in helping the Company increase Institutional ownership from around 35% to in excess of 90% and increased the number of equity research analysts actively following the Company from four to eleven. During his tenure, we had eleven straight quarters of either meeting or exceeding Wall Street's consensus estimates and expectations and as CFO, he was instrumental in assisting us achieve Sarbanes-Oxley 404 compliance. During the period when Brad was employed at the 'old' Magnum Hunter, the Company's common share price appreciated approximately 279% for an annualized appreciation exceeding 100%. Brad has a tremendous understanding of the subtle nuances of our industry and how to market to Wall Street. His leadership and guidance are a welcome addition to our Company as we pursue our strategic goals which include the acquisition and development of oil and gas producing properties, and certain unconventional hydrocarbon regions that offer meaningful levels of current production and the upside opportunities from the development of low risk drilling."
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