MHRC on the OTC market Message Board

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Gold/Mining/Energy : MHRC on the OTC market

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From: JakeStraw	4/18/2012 10:42:28 AM
	of 188

Magnum Hunter Resources Agrees to Acquire Bakken/Three Forks Sanish Properties in Williston Basin for $311 Million finance.yahoo.com Proved Reserves of 8.6 MMBOE Current Net Production Capacity of 1,295 BOPD 50,414 Net Acres -- 800 Gross Drilling Locations Mr. Glenn Dawson, President commented, "This strategic "bolt-on" acquisition in North Dakota increases our technically focused acreage position to a 125,000 net mineral acreage block located in the Williston Basin. We will be transitioning from a previously minor working interest position into a significant growth platform targeting the prolific Sanish-Three Forks Reservoir and emerging middle Bakken trends in this region. Increased capital allocation combined with advancing drilling and completion technology will propel oil production growth for the remainder of 2012 any many years to come for our Division. Williston Hunter's recently executed third party midstream contract to gather and process natural gas liquids will also create current hidden value through material production, reserve and cash-flow additions in 2013."

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