Magnum Hunter Resources Commences Drilling its First Utica Shale Well on Farley Pad in Northern Washington County, OH

Magnum Hunter Resources

announced today the commencement of drilling its first Utica Shale well on the Farley Pad (4 Well Pad) located in northern Washington County, Ohio along the Noble County, Ohio border. Triad Hunter, LLC ("Triad Hunter"), a wholly-owned subsidiary of the Company, is operating the well and owns 100% working interest in this drilling unit. The development plan is to first drill a vertical pilot hole for extensive logging and core analysis, and then to plug back and drill a 6,000+ foot lateral in the Point Pleasant portion of the Utica Shale. The well will then be fracture stimulated and tested this summer.Triad Hunter has mineral rights on approximately 88,000 gross acres (79,000 net acres) of Utica potential in Ohio and West Virginia, with a significant portion of this mineral acreage held by existing production. Based on offset well results and industry analysis, we believe approximately one-half of our existing acreage position is located in the wet gas window of this emerging play.Management CommentsMr. Gary C. Evans, Chairman of the Board and Chief Executive