SOURCE: Magnum Hunter Resources

Magnum Hunter Resources

September 17, 2010 07:30 ET

Magnum Hunter Resources Celebrates Groundbreaking for the Eureka Hunter Gas Pipeline

HOUSTON, TX--(Marketwire - September 17, 2010) -  Magnum Hunter Resources Corporation (NYSE Amex: MHR) (NYSE Amex: MHR-PC) ("Magnum Hunter", or the "Company") announced today the Company will be holding a Press Conference and official Groundbreaking Ceremony for its wholly-owned subsidiary, Eureka Hunter Gas Pipeline at 10:30 AM (EDT) in Middlebourne, West Virginia. Invitees include Dottie M. Underwood, Regional Representative for the Honorable Joe Manchin, Governor of West Virginia, lawmakers, local leaders, industry veterans, local property owners and Magnum Hunter officials.

The creation of this new pipeline gathering system with ultimate capacity to move 200 million cubic feet per day is expected to create a multi-million dollar impact for the state of West Virginia by providing an economic way to gather and distribute natural gas more efficiently which will create numerous new drilling opportunities for the region. The construction of the first phase of this system is underway and currently on schedule to be completed in November 2010.

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 of exploratory leases and producing properties, secondary enhanced oil recovery projects, exploratory drilling, and production of oil and natural gas in the United States. The Company is presently active in three of the "big four" emerging shale plays in the United States.

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Forward-Looking Statements

This press release contains statements concerning Magnum Hunter Resources Corporation's expectations, beliefs, plans, intentions, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not historical facts. These statements and others contained in this presentation that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995 (the "Litigation Reform Act"). Actual results may differ materially from those expressed or implied by these statements. You can generally identify our forward-looking statements by the words "anticipate", "believe" ,"continue", "could", "estimate", "expect", "forecast", "goal", "intend", "may", "objective", "plan", "potential", "predict", "projection", "should", "will", or other similar words. Such forward-looking statements relate to, among other things: (1) the Company's proposed exploration and drilling operations on its various properties, (2) the expected production and revenue from its various properties, (3) the Company's proposed redirection as an operator of certain properties and (4) estimates regarding the reserve potential of its various properties. These statements are qualified by important factors that could cause the Company's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company's ability to finance the continued exploration, drilling and operation of its various properties, (2) positive confirmation of the reserves, production and operating expenses associated with its various properties, (3) the general risks associated with oil and gas exploration, development and operations, including those risks and factors described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the period ended December 31, 2009 filed on March 31, 2010, and the Company's Quarterly Reports on Form 10-Q for the quarters ending September 30, 2009, March 31, 2010, and June 30, 2010, filed on November 16, 2009, May 17, 2010, and August 12,2010, respectively. Magnum Hunter Resources Corporation cautions readers not to place undue reliance on any forward-looking statements. Magnum Hunter Resources Corporation does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

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