Magnum Hunter has Hired Financial Advisors

Magnum Hunter Resources reports that Deutsche Bank Securities (Lead Advisor) and Merrill Lynch & Co. (Co-Advisor) have been formally engaged as financial advisors to assist the Special Committee of the Board of Directors of Magnum Hunter in their investigation of all possible alternatives available to the Company for the enhancement of shareholder value.

Commenting on today's announcement, Mr. Jerry Box, Chairman of the Board stated, "Magnum Hunter is pleased to announce the engagement of Deutsche Bank Securities and Merrill Lynch & Co. to assist the Board of Director's investigation and review of strategic alternatives. As I stated in last week's press release and conference call, the Magnum Hunter Board and management team is absolutely committed to building, enhancing and maximizing shareholder value and will take whatever steps necessary to ensure that all possible alternatives regarding Magnum Hunter's strategic future will be investigated thoroughly. These two financial institutions have worked with the Company extensively over the last several years and are very familiar with Magnum Hunters asset base and portfolio of opportunities."