Magnum Hunter Resources Strengthens Management

Magnum Hunter Resources has announced several management additions in the Company's exploration, administration, legal and finance departments. These changes address the addition of three new exploration professionals added from the recent closing of the Sharon Resources, Inc. acquisition as announced on September 30, 2009, and several internal changes to management responsibilities and associated corporate titles.

H.C. "Kip" Ferguson III has been appointed Executive Vice President of Exploration. Ferguson is a Houston, Texas native and a third generation geologist. He holds a Bachelors degree in Geology from the University of Texas in Austin and has 16 years of experience in oil and gas exploration throughout the Gulf Coast, West Texas and the Rocky Mountain regions. Ferguson will report to Mr. Gary C. Evans, Magnum Hunter's Chairman & Chief Executive Officer.

Brian Burgher has been appointed Vice President of Land. He has 25 years of continuous experience in every phase of land work within the energy industry and in numerous hydrocarbon producing basins of North America. Burgher attended both Baylor University and the University of Houston. He will report jointly to Ferguson and to Jim Denny, the Company's Executive Vice President of Operations.

Joining Magnum Hunter with Messrs. Ferguson and Burgher from Sharon Resources is Jason Wilson, a Geologist. Wilson has over 10 years of experience in the energy industry with both a multi-national integrated and a large-cap exploration and production company. While at Anadarko Petroleum Corp., he was responsible for the presenting of development locations in the Austin Chalk, preformed wellsite monitoring for exploration and development wells in North Africa, was part of an 8 person multi-disciplined development team that kept a 14 drilling rig program continually running in the Lower Cotton Valley and Bossier Sands of Northern Louisiana, and has substantial experience interpreting seismic data in numerous North American producing basins. He holds a Bachelor of Science in Geology and a Master of Science in Structural Geology from Texas A&M University. Wilson will report directly to Ferguson.

Donald Kirkendall has been appointed Senior Vice President of Product Marketing and Administration. Kirkendall will be responsible for all of the Company's product marketing and transportation, real estate, human resources, insurance and IT services. Kirkendall brings more than 25 years of diversified energy experience, including six years with the interstate pipeline business and 19 years of natural gas marketing and exploration experience. He received his BBA from Southwest Texas State University. Kirkendall will report to Ron Ormand, the Company's Executive Vice President and Chief Financial Officer.

David Lipp has been promoted to Vice President of Business Development and Legal. He has been with the Company for two years, working in the finance, treasury, accounting and legal departments. Lipp received a Bachelor's degree in Finance and a Masters degree in Accounting from Tulane University. He also received his J.D. from the University of Houston Law Center and is admitted to practice law in the State of Texas. Mr. Lipp will report to Mr. Ormand.

Justin Wong has recently joined Magnum Hunter as Assistant Vice President of Finance. Mr. Wong has several years prior experience in both Investment Banking and the Structured Finance Advisory industries. He holds a B.S. degree from Cornell University and is currently on schedule to graduate with an M.B.A. from the University of Texas McCombs School of Business in July 2010. Wong is also a CFA Level 3 candidate. He will report jointly to Lipp and to Brad Davis, the Company's Senior Vice President of Capital Markets.

Management Comments

Gary C. Evans, Chairman of the Company, commented, "We are pleased to announce that all of Sharon's U.S.-based existing management team and employees have joined Magnum Hunter. One of the primary reasons we became so interested in Sharon Resources was the highly seasoned and successful group of exploration professionals. Congratulations are also in order to Don, David and Justin as we have reconfigured the organization. We are fortunate to now have in place within our Company the depth and expertise to assign important day-to-day management responsibilities as we continue to grow Magnum Hunter."