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From: Mario :-)	12/28/2010 8:14:41 PM
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Not sure if this was already posted - can cause any problems? MHR - Ngas Resources, Inc. Securities Litigation zlk.com Ngas Resources, Inc. (Nasdaq: NGAS) shareholder litigation in connection with alleged unfair takeover offer On December 28, 2010, Ngas Resources, Inc. (“Ngas” or the “Company”) announced that it has agreed to sell the Company to Magnum Hunter Resources Corporation (“Magnum Hunter”) (AMEX: MHR). Under the terms of the transaction, Ngas stockholders will receive 0.0846 of a share of Magnum Hunter common stock per each share of Ngas stock they own. This transaction represents a value of $0.55 per share to Ngas stockholders, for a total transaction value of approximately $98 million, including assumed debt. The investigation concerns whether the Ngas Board of Directors breached their fiduciary duties to Ngas stockholders by failing to adequately shop the Company before entering into this transaction and whether Magnum Hunter is underpaying for Ngas shares, thus unlawfully harming Ngas stockholders. In particular, at least one analyst set a price target for Ngas stock at $1.00 per share and Ngas stock traded as high as $1.11 per share as recently as August 2, 2010.

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