Magnum Hunter Resources Receives Continued Listing Standard Notification From NYSE Regarding Common Stock

IRVING, TX--(Marketwired - Sep 4, 2015) - Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the "Company" or "Magnum Hunter") announced today that on August 31, 2015, it received notice from the New York Stock Exchange (the "NYSE") that the Company is no longer in compliance with the NYSE's continued listing standards for the Company's common stock because the average closing price of the Company's common stock has fallen below the NYSE's per share price requirements. NYSE rules require that the average closing price of a listed company's common stock be at least $1.00 per share over a consecutive 30 trading-day period. As of August 26, 2015, the average closing price of the Company's common stock over the preceding consecutive 30 trading-day period was $0.99 per share.

Under the NYSE's rules, the Company has a period of six months, subject to possible extension, to regain compliance with the NYSE's continued listing standards. The Company can regain compliance if, during the six-month period following receipt of the NYSE notice, on the last trading day of any calendar month, the Company's common stock has a closing price and a 30 trading-day average closing price of at least $1.00 per share. The Company's common stock will continue to be listed and traded on the NYSE during this period under the symbol "MHR," but the NYSE will assign a ".BC" indicator to the symbol to denote that the Company is below the NYSE's quantitative continued listing standards. The Company intends to properly notify the NYSE that it anticipates that this price deficiency will be cured and that it will return to compliance with the NYSE's continued listing standards prior to the expiration of this six-month period.

The non-compliance with the NYSE price listing standard described above does not affect the listing on the NYSE MKT of the Company's Series C and Series D preferred stock and the depositary shares representing the Company's Series E preferred stock, and each such series of preferred stock and such depositary shares will continue to be listed and traded on the NYSE MKT, subject to the Company's continued compliance with the NYSE MKT's listing standards. The non-compliance with the NYSE price listing standard described above also does not conflict with the Company's revolving credit facility or other debt agreements.