Magnum Hunter Resources Corporation Raises FY 2011 And FY 2012 Production Guidance

Magnum Hunter Resources Corporation announced that it has raised the Company's production guidance for fiscal 2011 and fiscal 2012 due to higher production levels being experienced from new well completions. The Company's three operating divisions are currently producing at a combined production base in excess of 12,500 Boe per day, significantly above previous company guidance of 10,000 Boe per day as a projected fiscal 2011 exit rate. This represents a 455% increase from our daily production rate of 2,750 Boe per day at the beginning of this year. The Company has also raised production guidance for calendar 2012 with a projected exit rate of 14,500 Boe per day from its previous guidance of 13,000 Boe per day. All of this production growth is anticipated from new drilling of existing mineral leases and do not include any potential acquisitions.