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Magnum Hunter Resources Announces the Appointment of a New


Magnum Hunter Resources Announces the Appointment of a New Senior Vice President of Accounting and Chief Accounting Officer

HOUSTON, TX -- (Marketwire) -- 10/23/12 -- Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) ("Magnum Hunter" or the "Company") announced today that the Company has appointed Fred J. Smith, Jr., as Senior Vice President of Accounting and Chief Accounting Officer (CAO), effective October 23, 2012. The Company's current CAO, David S. Krueger, will assist with the transition through December 31, 2012.

Mr. Smith brings more than 35 years of broad oil and gas financial and operational accounting experience. Prior to joining MHR, Mr. Smith was Corporate Controller of Pioneer Natural Resources from 2008 to 2012. Prior to that time, Mr. Smith was employed by ConocoPhillips and held leadership positions in the Lower 48 Exploration and Production Finance division and Global Financial Services organizations from 2000 to 2008. Mr. Smith was Vice President of Finance and Chief Financial Officer from 1998 to 2000 of River Gas Corporation, a privately-owned coal bed methane operator which was acquired by ConocoPhillips in 2000. Mr. Smith joined ConocoPhillips following the acquisition of River Gas Corporation. Mr. Smith was previously employed by The Louisiana Land & Exploration Company in New Orleans, Louisiana, for over 20 years where he held a number of management positions within various financial and operational accounting areas. Mr. Smith began his professional career as a member of the audit staff of Ernst & Young (formerly Ernst & Ernst). Mr. Smith graduated from the University of New Orleans with a Bachelor of Science degree in Accounting and has been a licensed CPA since 1975.

Magnum Hunter Management Comments

Mr. Ron Ormand, Executive Vice President and Chief Financial Officer, commented, "We are extremely pleased to have the opportunity to bring on the Magnum Hunter Team an individual with the years and the breadth of experience in accounting, systems and processes with a number of high quality companies in the oil and gas field. Fred will be responsible for managing Magnum Hunter's accounting department including all personnel, processes and financial reporting in order to make sure that the Company is well prepared to manage the Company's current operations as well as its further growth. I would also like to thank David Krueger for his invaluable contributions to Magnum Hunter over the last three years and wish him well in his future endeavors."

About Magnum Hunter Resources Corporation

Magnum Hunter Resources Corporation and subsidiaries are a Houston, Texas-based independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia, Kentucky, Ohio, Texas and North Dakota, and Saskatchewan, Canada. The Company is presently active in five of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, Eagle Ford Shale, Pearsall Shale and Williston Basin/Bakken Shale.

For more information about Magnum Hunter Resources, please visit www.magnumhunterresources.com.

Contact: Gabe Scott Vice President - Capital Markets and Corporate Development ir@magnumhunterresources.com (832) 203-4539

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