Magnum Hunter Resources Corporation has reported a significant increase in the quantity of the Company's estimated proved reserves at mid-year 2010, up 91% versus year-end 2009. The present value of estimated future cash flows before income taxes of our estimated proved reserves as of June 30, 2010, discounted at 10% ("PV-10"), also increased 164% as compared to year-end 2009.

Magnum Hunter's total proved reserves increased 5.6 million barrels of oil equivalent (Boe) to 11.8 million Boe (69% crude oil & ngl; 53% proved developed producing) as of June 30, 2010 as compared to 6.2 million Boe (74% crude oil & ngl; 43% proved developed producing) at year-end 2009. The Company's reserve life (R/P ratio) increased from approximately 14 years at December 31, 2009 to approximately 21 years as of June 30, 2010.

The Company's June 30, 2010 PV-10 increased by $108 million or 164% to $173.0 million from the December 31, 2009 PV-10 value of $65.6 million. Under new SEC guidelines, the commodity prices used in the June 30, 2010 and December 31, 2009 PV-10 estimates were based on the 12-month unweighted arithmetic average of the first-day-of-the-month price for the periods July 1, 2009 through June 30, 2010 and January 1, 2009 through December 31, 2009, respectively, adjusted by lease for transportation fees and regional price differentials. For crude oil and ngl volumes, this average West Texas Intermediate posted price of $75.76 per barrel at June 30, 2010, was up 24% from the average price of $61.18 per barrel at December 31, 2009. For gas volumes, the average price of the Henry Hub spot price of $4.10 per million British thermal units ("MMBTU") at June 30, 2010 was up 6% from the average price of $3.87 per MMBTU at December 31, 2009. All prices were held constant throughout the estimated life of the properties.

The Company's June 30, 2010 proved reserves of 11.8 million Boe reflect an organic 4% increase over the Company's pro forma proved reserves of 11.3 million Boe as of December 31, 2009, when including the reserves related to the Company's acquisition of the assets of Triad Energy Corporation which occurred in February 2010.

The estimates of the Company's total proved reserves as of December 31, 2009 and as of June 30, 2010 were prepared by our third party engineering consultants, Cawley, Gillespie & Associates, Inc. and DeGolyer and McNaughton.

Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of the Company, commented, "Our significant reserve growth during the first half of fiscal year 2010 is primarily due to the mid February acquisition of Triad Energy out of the U.S. Bankruptcy Court. It is important to note that no proved reserves have yet to be booked in our emerging horizontal shale plays. With the aggressive drilling program underway at Magnum Hunter, which will continue for the remainder of this year and into 2011, significant reserve additions associated with both our Eagle Ford Shale play of Central and South Texas and our Marcellus Shale play of Northwestern West Virginia should allow us to continue the creation of increased value for our shareholders from just our existing asset base, excluding any additional potential acquisitions."

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