|   |                                                                                 |
|--------|--------------------------------------------------------------------------------------|
| þ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|                            |   |                |
|---------------------------------|--------|---------------------|
| Delaware                        |   | 86-0879278          |
| (State or other jurisdiction of |   | (I.R.S. Employer    |
| incorporation or organization)  |   | Identification No.) |

|                                                                                  |   |                                       |
|---------------------------------------------------------------------------------------|--------|--------------------------------------------|
| Title of each class:                                                                  |   | Name of each exchange on which registered: |
| $0.01 par value Common Stock10.25% Series C Cumulative Perpetual Preferred Stock |   | NYSENYSE Amex                              |

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|                      |   |                     |   |                    |   |                        |
|---------------------------|--------|--------------------------|--------|-------------------------|--------|-----------------------------|
| Large accelerated filer o |   | Accelerated filer þ |   | Non-accelerated filer o |   | Smaller reporting company o |

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| ·   | Add disclosure regarding our delivery commitments; |
|--------------------|----------------------------------------------------|

| ·   | Add disclosure regarding the net quantities of oil and gas produced and sold by the Company for each of the previous three years ended December 31st and the average sales price per unit and average production cost per unit in connection therewith; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Add disclosure regarding the number of wells that are in the process of being drilled or completed; |
|--------------------|-----------------------------------------------------------------------------------------------------|

| ·   | Update certain reconciliation information with respect to non-GAAP financial information that was previously reported in a Current Report on Form 8-K; and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provide certain additional information regarding our drilling activities that appears in the second to last paragraph of the section titled “Appalachian Basin/Marcellus Shale.” |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provide an updated consent of our independent petroleum engineer; and |
|--------------------|-----------------------------------------------------------------------|

| ·   | Provide the required certifications by our principal executive officer and principal financial officer. |
|--------------------|---------------------------------------------------------------------------------------------------------|

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----

----

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|                           |   | Net Reserves (SEC Prices at 12/31/10) |   |
|--------------------------------|--------|---------------------------------------|--------|
| Category                       |   | Oil                                   |   |   | NGL |   |   | Gas |   |   | PV-10 |   |
|                           |   | (mbbls)                               |   |   | (barrels) |   |   | (mmcf) |   |   | ($mm) |   |
|                           |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Proved Developed               |   |                                  | 3,720  |   |   |   | — |   |   |   | 18,888 |   |   | $ | 111.8 |   |
| Proved Undeveloped             |   |                                  | 3,104  |   |   |   | — |   |   |   | 20,564 |   |   | $ | 66.0 |   |
|    Total Proved |   |                                  | 6,824  |   |   |   | — |   |   |   | 39,452 |   |   | $ | 177.8 |   |

----

|                           |   | Net Reserves (Based on NYMEX Futures Prices at 12/31/10) |   |
|--------------------------------|--------|----------------------------------------------------------|--------|
| Category                       |   | Oil                                                      |   |   | NGL |   |   | Gas |   |   | PV-10 |   |
|                           |   | (mbbls)                                                  |   |   | (barrels) |   |   | (mmcf) |   |   | ($mm) |   |
|                           |   |                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Proved Developed               |   |                                                     | 3,975  |   |   |   | — |   |   |   | 20,577 |   |   | $ | 144.9 |   |
| Proved Undeveloped             |   |                                                     | 3,632  |   |   |   | — |   |   |   | 21,167 |   |   | $ | 97.7 |   |
|    Total Proved |   |                                                     | 7,607  |   |   |   | — |   |   |   | 41,744 |   |   | $ | 242.6 |   |

|                              |   | 2010   |       |   | 2009   |   |      | 2008   |   |
|-----------------------------------|--------|--------|------------|--------|--------|--------|-----------|--------|--------|
|                              |   |   |       |   |   |   |      |   |   |   |   |   |
| Description                       |   |   |       |   |   |   |      |   |   |   |   |   |
| Proved Developed Reserves         |   |   |       |   |   |   |      |   |   |   |   |   |
| Oil (bbls)                        |   |   | 3,720,300  |   |   |   | 1,694,700 |   |   |   | 1,092,730 |   |
| NGLs (bbls)                       |   |   | —    |   |   |   | 361,000   |   |   |   | 301,577 |   |
| Natural Gas (mcf)                 |   |   | 18,887,700 |   |   |   | 4,952,500 |   |   |   | 2,549,496 |   |
| Proved Undeveloped Reserves       |   |   |       |   |   |   |      |   |   |   |   |   |
| Oil (bbls)                        |   |   | 3,104,000  |   |   |   | 2,126,800 |   |   |   | 769,309 |   |
| NGLs (bbls)                       |   |   | —    |   |   |   | 426,000   |   |   |   | 245,636 |   |
| Natural Gas (mcf)                 |   |   | 20,564,200 |   |   |   | 4,411,700 |   |   |   | 1,703,450 |   |
| Total Proved Reserves (boe)(1)(2) |   |   | 13,399,700 |   |   |   | 6,169,200 |   |   |   | 3,118,076 |   |
|                              |   |   |       |   |   |   |      |   |   |   |   |   |
| PV-10 Value ($mm)(3)              |   | $      | 177.8      |   |   | $      | 65.6      |   |   | $ | 21.0 |   |
| Standardized Measure ($mms)       |   | $      | 128.0      |   |   | $      | 47.4      |   |   | $ | 15.6 |   |

| (1)    |   | The estimates of reserves in the table above conform to the guidelines of the SEC. Estimated recoverable proved reserves have been determined without regard to any economic impact that may result from our financial  derivative activities. These calculations were prepared using standard geological and engineering methods generally accepted by the petroleum industry. The reserve information shown is estimated. The certainty of any reserve estimate is a function of the quality of available geological, geophysical, engineering and economic data, and the precision of the engineering and geological interpretation and judgment. The estimates of reserves, future cash flows and present value are based on various assumptions, and are inherently imprecise. Although we believe these estimates are reasonable, actual future production, cash flows, taxes, development expenditures, operating expenses and quantities of recoverable oil and natural gas reserves may vary substantially from these estimates. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (2)    |   | We converted natural gas to oil equivalent at a ratio of six mcf to one boe.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (3)    |   | Represents the present value, discounted at 10% per annum (PV-10), of estimated future cash flows before income tax of our estimated proved reserves. The estimated future cash flows set forth above were determined by using reserve quantities of proved reserves and the periods in which they are expected to be developed and produced based on prevailing economic conditions. The estimated future production is priced based on the 12-month unweighted arithmetic average of the first-day-of-the-month price for the period January through December 2010, using $79.43 per bbl and $4.37 per mmbtu and adjusted by lease for transportation fees and regional price differentials. Management believes that the presentation of the non-GAAP financial measure of PV-10 provides useful information to investors because it is widely used by professional analysts and sophisticated investors in evaluating oil and natural gas companies.                                                                                            |

----

|                                                     |   | For the Year Ended     |
|----------------------------------------------------------|--------|------------------------|
| Proved Reserves (mboe)                                   |   | December 31, 2010 |
|                                                     |   |                   |   |   |
| Proved reserves — beginning of year           |   |                   | 6,169.2 |   |
| Revisions of previous estimates                          |   |                   | (22.2 | ) |
| Improved recovery                                        |   |                   | 0.0 |   |
| Extensions and discoveries                               |   |                   | 3,194.1 |   |
| Production                                               |   |                   | (588.9 | ) |
| Purchases of reserves in place                           |   |                   | 7,037.1 |   |
| Sales of reserves in place                               |   |                   | (2,389.6 | ) |
| Proved reserves — end of year                 |   |                   | 13,399.7 |   |
| Proved developed reserves — beginning of year |   |                   | 2,880.7 |   |
| Proved developed reserves — end of year       |   |                   | 5,842.4 |   |

|   | · | Commodity Prices:  Economic producibility of reserves and discounted cash flows are now based on a 12-month average commodity price unless contractual arrangements designate the price to be used. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Disclosure of Unproved Reserves:  Probable and possible reserves may be disclosed separately on a voluntary basis. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------|

|   | · | Proved Undeveloped Reserve Guidelines:  Reserves may be classified as proved undeveloped if there is a high degree of confidence that the quantities will be recovered and they are scheduled to be drilled within the next five years, unless the specific circumstances justify a longer time. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reserves Estimation Using New Technologies:  Reserves may be estimated through the use of reliable technology in addition to flow tests and production history. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reserves Personnel and Estimation Process:  Additional disclosure is required regarding the qualifications of the chief technical person who oversees the reserves estimation process. We are also required to provide a general discussion of our internal controls used to assure the objectivity of the reserves estimate. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-Traditional Resources:  The definition of oil and gas producing activities has expanded and focuses on the marketable product rather than the method of extraction. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                    |   | Developed  |   |   | Undeveloped |   |   |          |   |
|-------------------------|--------|------------|--------|--------|-------------|--------|--------|---------------|--------|
|                    |   | Acreage(1) |   |   | Acreage(2)  |   |   | Total Acreage |   |
|                    |   | Gross      |   |   | Net         |   |   | Gross         |   |   | Net |   |   | Gross |   |   | Net |   |
|                    |   |       |   |   |        |   |   |          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Appalachia              |   |       | 70,803 |   |        |   | 62,652 |          |   |   | 110,449 |   |   |   | 33,723 |   |   |   | 181,252 |   |   |   | 96,375 |   |
| North Dakota            |   |       | 15,200 |   |        |   | 6,536  |          |   |   | 3,411 |   |   |   | 1,116 |   |   |   | 18,611 |   |   |   | 7,652 |   |
| Texas                   |   |       | 6,993  |   |        |   | 1,916  |          |   |   | 51,152 |   |   |   | 24,229 |   |   |   | 58,145 |   |   |   | 26,145 |   |
| Other                   |   |       | 714    |   |        |   | 443    |          |   |   | 90,000 |   |   |   | 8,866 |   |   |   | 90,714 |   |   |   | 9,309 |   |
|    Total |   |       | 93,710 |   |        |   | 71,547 |          |   |   | 255,012 |   |   |   | 67,934 |   |   |   | 348,722 |   |   |   | 139,481 |   |

| (1) |   | Developed acreage is the number of acres allocated or assignable to producing wells or wells capable of production.                                                                                                                              |
|-----|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) |   | Undeveloped acreage is lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and natural gas, regardless of whether such acreage includes proved reserves. |

|                    |   | Producing |    |   | Producing |   |    | Total Producing |   |
|-------------------------|--------|-----------|---------|--------|-----------|--------|---------|-----------------|--------|
|                    |   | Oil Wells |    |   | Gas Wells |   |    | Wells           |   |
|                    |   | Gross     |    |   | Net       |   |    | Gross           |   |   | Net |   |   | Gross |   |   | Net |   |
|                    |   |      |    |   |      |   |    |            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Appalachia              |   |      | 1,398.0 |   |      |   | 1,375.6 |            |   |   | 692.0 |   |   |   | 638.6 |   |   |   | 2,090.0 |   |   |   | 2,014.2 |   |
| North Dakota            |   |      | 151.0   |   |      |   | 70.9    |            |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 151.0 |   |   |   | 70.9 |   |
| Texas                   |   |      | 4.0     |   |      |   | 2.8     |            |   |   | 15.0 |   |   |   | 2.2 |   |   |   | 19.0 |   |   |   | 5.0 |   |
| Other                   |   |      | 2.0     |   |      |   | 1.3     |            |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 2.0 |   |   |   | 1.3 |   |
|    Total |   |      | 1,555   |   |      |   | 1,451   |            |   |   | 707 |   |   |   | 641 |   |   |   | 2,262 |   |   |   | 2,091 |   |

| Year Ending  |   | Expiring Acreage |   |
|--------------|--------|------------------|--------|
| December 31, |   | Gross            |   |   | Net |   |
|         |   |             |   |   |   |   |   |   |
| 2011         |   |             | 12,425 |   |   |   | 8,848 |   |
| 2012         |   |             | 20,267 |   |   |   | 12,687 |   |
| 2013         |   |             | 25,865 |   |   |   | 20,757 |   |
| 2014         |   |             | 31,156 |   |   |   | 21,864 |   |
| Total        |   |             | 89,713 |   |   |   | 64,156 |   |

----

|                 |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|----------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                 |   | Gross  |   |   | Net    |   |   | Gross  |   |   | Net |   |   | Gross |   |   | Net |   |
|                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exploratory Wells:   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Productive           |   |   | 8      |   |   |   | 6.67   |   |   |   | 3 |   |   |   | 0.70 |   |   |   | 25 |   |   |   | 2.45 |   |
| Unproductive         |   |   | 0      |   |   |   | 0.00   |   |   |   | 1 |   |   |   | 0.10 |   |   |   | 11 |   |   |   | 2.20 |   |
| Total                |   |   | 8      |   |   |   | 6.67   |   |   |   | 4 |   |   |   | 0.80 |   |   |   | 36 |   |   |   | 4.65 |   |
| Developmental Wells: |   |   | 67     |   |   |   | 6.70   |   |   |   | 27 |   |   |   | 3.80 |   |   |   | 8 |   |   |   | 1.41 |   |
| Total Wells:         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Productive           |   |   | 75     |   |   |   | 13.37  |   |   |   | 30 |   |   |   | 4.50 |   |   |   | 33 |   |   |   | 3.86 |   |
| Unproductive         |   |   | 0      |   |   |   | 0.00   |   |   |   | 1 |   |   |   | 0.10 |   |   |   | 0 |   |   |   | 0.00 |   |
| Total                |   |   | 75     |   |   |   | 13.37  |   |   |   | 31 |   |   |   | 4.60 |   |   |   | 33 |   |   |   | 3.86 |   |
| Success Ratio(1)     |   |   | 100.0  | %      |   |   | 100.0  | %      |   |   | 96.8 | % |   |   | 97.8 | % |   |   | 100.0 | % |   |   | 100.0 | % |

| (1) |   | The success ratio is calculated as follows: (total wells drilled — non-productive wells — wells awaiting completion)/(total wells drilled — wells awaiting completion). |
|-----|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                            |   | Years EndedDecember 31, |
|-----------------------------------------------------------------|--------|-------------------------|
|                                                            |   | 2010                    |   | 2009 |   | 2008 |
| Sistersville(1)                                                 |   |                    |   |   |   |   |
|    Oil Production (Bbls)                         |   | 3,896.0                 |   | - |   | - |
|    Natural Gas Production (Mcf)                  |   | 256,157.0               |   | - |   | - |
|    NGL Production (Bbls)                         |   | -                       |   | - |   | - |
|    Total Production (Boe)                        |   | 46,588.8                |   | - |   | - |
|     Oil Average Sales Price                 |   | $71.80                  |   | - |   | - |
|     Natural Gas Average Sales Price         |   | $5.91                   |   | - |   | - |
|     NGL Average Sales Price                 |   | -                       |   | - |   | - |
|     Average Lease Operating Expense per Boe |   | $10.59                  |   | - |   | - |
|                                                            |   |                    |   |   |   |   |
| Mohall(2)                                                       |   |                    |   |   |   |   |
|    Oil Production (Bbls)                         |   | 38,034.7                |   | 29,532.1 |   | 22,748.0 |
|    Natural Gas Production (Mcf)                  |   | -                       |   | - |   | - |
|    NGL Production (Bbls)                         |   | -                       |   | - |   | - |
|    Total Production (Boe)                        |   | 38,034.7                |   | 29,532.1 |   | 22,748.0 |
|     Oil Average Sales Price                 |   | $69.70                  |   | $55.30 |   | $85.32 |
|     Natural Gas Average Sales Price         |   | -                       |   | - |   | - |
|     NGL Average Sales Price                 |   | -                       |   | - |   | - |
|     Average Lease Operating Expense per Boe |   | $22.96                  |   | $20.79 |   | $28.26 |
|                                                            |   |                    |   |   |   |   |
| Total Company                                                   |   |                    |   |   |   |   |
|    Oil Production (Bbls)                         |   | 316,119.6               |   | 114,590.0 |   | 110,718.9 |
|    Natural Gas Production (Mcf)                  |   | 952,174.7               |   | 191,151.0 |   | 130,370.5 |
|    NGL Production (Bbls)                         |   | -                       |   | - |   | - |
|    Total Production (Boe)                        |   | 474,817.3               |   | 146,449.0 |   | 132,447.4 |
|     Oil Average Sales Price                 |   | $72.41                  |   | $53.56 |   | $86.92 |
|     Natural Gas Average Sales Price         |   | $5.07                   |   | $2.46 |   | $4.36 |
|     NGL Average Sales Price                 |   | -                       |   | - |   | - |
|     Average Lease Operating Expense per Boe |   | $21.90                  |   | $26.48 |   | $30.42 |

| (1)  These properties were part of the assets acquired from Triad Energy in 2010, which are located in West Virginia. |
|---------------------------------------------------------------------------------------------------------------------------------|
| (2) These properties are part of our non-operated properties in the Williston Basin in North Dakota.                            |   |   |

----

|   | · | customary royalty interests; |
|--------|--------|------------------------------|

|   | · | liens incident to operating agreements and for current taxes; |
|--------|--------|---------------------------------------------------------------|

|   | · | obligations or duties under applicable laws; |
|--------|--------|----------------------------------------------|

|   | · | development obligations under oil and gas leases; |
|--------|--------|---------------------------------------------------|

|   | · | net profit interests; |
|--------|--------|-----------------------|

|   | · | overriding royalty interests; |
|--------|--------|-------------------------------|

|   | · | non-surface occupancy leases; and |
|--------|--------|-----------------------------------|

|   | · | lessor consents to placement of wells. |
|--------|--------|----------------------------------------|

----

|                                                     |   | (Unaudited) As of December 31, |     |
|----------------------------------------------------------|--------|-------------------------------------|----------|
|                                                     |   | 2010                                |     |
|                                                     |   |                                |     |
| Future cash inflows                                      |   | $                                   | 709,788  |   |
| Future production costs                                  |   |                                | (253,544 | ) |
| Future development costs                                 |   |                                | (77,216  | ) |
| Future income tax expense                                |   |                                | (88,233  | ) |
| Future net cash flows                                    |   |                                | 290,795  |   |
| 10% annual discount for estimated                        |   |                                |     |   |
| timing of cash flows                                     |   |                                | (162,836 | ) |
| Standardized measure of discounted future                |   |                                |     |   |
| net cash flows related to proved reserves                |   | $                                   | 127,959  |   |
|                                                     |   |                                |     |   |
| Reconciliation of Non-GAAP Measure                       |   |                                |     |   |
| PV-10                                                    |   | $                                   | 177,814  |   |
| Less: Income taxes                                       |   |                                |     |   |
| Undiscounted future income taxes                         |   |                                | (88,233  | ) |
| 10% discount factor                                      |   |                                | 38,378   |   |
| Future discounted income taxes                           |   |                                | (49,855  | ) |
|                                                     |   |                                |     |   |
| Standardized measure of discounted future net cash flows |   | $                                   | 127,959  |   |

----

| Exhibit Number |   | Description                                                                                                                                                                                         |
|----------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1(1)         |   | Restated Certificate of Incorporation of the Registrant, filed February 13, 2002                                                                                                                    |
| 3.1.1(1)       |   | Certificate of Amendment of Certificate of Incorporation of the Registrant, filed May 8, 2003                                                                                                       |
| 3.1.2(1)       |   | Certificate of Amendment of Certificate of Incorporation of the Registrant, filed June 6, 2005                                                                                                      |
| 3.1.3(4)       |   | Certificate of Amendment of Certificate of Incorporation of the Registrant, filed July 18, 2007                                                                                                     |
| 3.1.4(7)       |   | Certificate of Ownership and Merger Merging Magnum Hunter Resources Corporation with and into Petro Resources Corporation, filed July 13, 2009                                                      |
| 3.1.5(22)      |   | Certificate of Amendment of Certificate of Incorporation of the Registrant, filed November 3, 2010                                                                                                  |
| 3.2(1)         |   | Amended and Restated Bylaws of the Registrant, dated March 15, 2001                                                                                                                                 |
| 3.2.1(2)       |   | Amendment to Bylaws of the Registrant, dated April 14, 2006                                                                                                                                         |
| 3.2.2(5)       |   | Amendment to Bylaws of the Registrant, dated October 12, 2006                                                                                                                                       |
| 4.1            |   | Form of certificate for common stock##                                                                                                                                                              |
| 4.2(13)        |   | Certificate of Designation of Rights and Preferences of 10.25% Series C Cumulative Perpetual Preferred Stock, dated December 10, 2009                                                               |
| 4.2.1(16)      |   | Certificate of Amendment of Certificate of Designation of Rights and Preferences of 10.25% Series C Cumulative Perpetual Preferred Stock, dated August 2, 2010                                      |
| 4.2.2(20)      |   | Certificate of Amendment of Certificate of Designation of Rights and Preferences of 10.25% Series C Cumulative Perpetual Preferred Stock, dated September 8, 2010                                   |
| 10.1(15)       |   | Employment Agreement between the Registrant and James W. Denny, dated May 27, 2008*                                                                                                                 |
| 10.2(6)        |   | Employment Agreement between the Registrant and Gary C. Evans, dated May 22, 2009*                                                                                                                  |
| 10.3(6)        |   | Stock Option Agreement between the Registrant and Gary C. Evans, dated May 22, 2009*                                                                                                                |
| 10.4(6)        |   | Restricted Stock Agreement between the Registrant and Gary C. Evans, dated May 22, 2009*                                                                                                            |
| 10.5(6)        |   | Employment Agreement between the Registrant and Ronald D. Ormand, dated May 22, 2009*                                                                                                               |
| 10.6(6)        |   | Stock Option Agreement between the Registrant and Ronald D. Ormand, dated May 22, 2009*                                                                                                             |
| 10.7(6)        |   | Restricted Stock Agreement between the Registrant and Ronald D. Ormand, dated May 22, 2009*                                                                                                         |
| 10.8           |   | Employment Agreement between the Registrant and H.C. “Kip” Ferguson, dated October 1, 2009*##                                                                                           |
| 10.9           |   | Resignation and General Release Agreement between the Registrant and Wayne P. Hall, dated December 22, 2010##                                                                                       |
| 10.10(25)      |   | Amended and Restated Stock Incentive Plan of Registrant*                                                                                                                                            |
| 10.11          |   | Form of Stock Option Agreement under the Registrant’s Amended and Restated Stock Incentive Plan*##                                                                                            |
| 10.12(25)      |   | Form of Restricted Stock Award Agreement under the Registrant’s Amended and Restated Stock Incentive Plan*                                                                                    |
| 10.13(25)      |   | Form of Stock Appreciation Right Agreement under the Registrant’s Amended and Restated Stock Incentive Plan*                                                                                  |
| 10.14(1)       |   | Lease Purchase Agreement between the Registrant and The Meridian Resource & Exploration, LLC, dated January 10, 2006                                                                            |
| 10.15(1)       |   | Form of Registration Rights Agreement for $3.00 warrants sold as part of the Registrant’s February 2006 private placement, dated February 17, 2006                                            |
| 10.16(1)       |   | Form of $3.00 Warrant sold as part of February 2006 private placement                                                                                                                               |
| 10.17(3)       |   | Purchase and Sale Agreement between the Registrant and Eagle Operating, Inc., dated December 11, 2006                                                                                               |
| 10.18          |   | First Amendment to Purchase and Sale Agreement between the Registrant and Eagle Operating, Inc., dated January 25, 2007##                                                                           |
| 10.19(8)       |   | Agreement and Plan of Merger between the Registrant, Sharon Hunter, Inc., Sharon Resources, Inc. and Sharon Energy Ltd., dated September 9, 2009                                                    |
| 10.20(8)       |   | Purchase and Sale Agreement between the Registrant and Centurion Exploration Company, LLC, dated September 14, 2009                                                                                 |
| 10.21(9)       |   | Asset Purchase Agreement between the Registrant and Triad Energy Corporation, dated October 28, 2009                                                                                                |
| 10.22(10)      |   | Form of Securities Purchase and Registration Rights Agreement with respect to November 5, 2009 offering                                                                                             |
| 10.23(10)      |   | Form of $2.50 Warrant with respect to the Registrant’s November 5, 2009 offering                                                                                                              |
| 10.24(11)      |   | Placement Agency Agreement with respect to the Registrant’s November 10, 2009 offering, dated November 10, 2009                                                                               |
| 10.25(11)      |   | Placement Agency Agreement with respect to the Registrant’s November 11, 2009 offering, dated November 11, 2009                                                                               |
| 10.26(11)      |   | Form of $2.50 Warrant with respect to the Registrant’s November 10 and 11, 2009 offerings                                                                                                     |
| 10.27(12)      |   | Underwriting Agreement between the Registrant and Wunderlich Securities, Inc., dated December 9, 2009                                                                                               |
| 10.28(14)      |   | Amended and Restated Credit Agreement between the Registrant, Bank of Montreal, Capital One, N.A., BMO Capital Markets and Capital One, N.A and the lenders party thereto, dated February 12, 2010+ |
| 10.29(17)      |   | First Amendment to Amended and Restated Credit Agreement between the Registrant, Bank of Montreal, Capital One, N.A., and the lenders party thereto, dated May 13, 2010                             |

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| ExhibitNumber |   |  Description                                                                                                                                                                                          |
|---------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.30(18)     |   | At the Market Sales Agreement for Series C Preferred Stock between the Registrant and McNicoll, Lewis & Vlak LLC, dated June 22, 2010                                                             |
| 10.31(19)     |   | At the Market Sales Agreement for common stock between the Registrant and McNicoll, Lewis & Vlak LLC, dated June 25, 2010                                                                              |
| 10.32(21)     |   | Limited Waiver of Credit Agreement Provisions, between the Registrant and Bank of Montreal and Capital One, N.A., dated September 24, 2010                                                                 |
| 10.33(23)     |   | Purchase and Sale Agreement between the Registrant and Approach Oil & Gas Inc., dated October 29, 2010+                                                                                                |
| 10.34(24)     |   | At the Market Sales Agreement for common stock between the Registrant and McNicoll, Lewis and Vlak, LLC, dated November 12, 2010                                                                           |
| 10.35(24)     |   | At the Market Sales Agreement for Series C Preferred Stock between the Registrant and McNicoll, Lewis and Vlak, LLC, dated November 12, 2010                                                          |
| 10.36(26)     |   | Second Amendment to Amended and Restated Credit Agreement and Waiver between the Registrant, Bank of Montreal, Capital One, N.A., and the guarantors and lenders party thereto, dated November 30, 2010+   |
| 10.37(27)     |   | Arrangement Agreement between the Registrant and NGAS Resources, Inc., dated December 23, 2010+                                                                                                            |
| 10.38(27)     |   | Form of Support Agreement between the Registrant and certain NGAS Resources, Inc. shareholders, dated December 23, 2010                                                                                    |
| 10.39(28)     |   | Purchase and Sale Agreement between the Registrant, Quest Eastern Resource LLC and PostRock MidContinent Production, LLC, dated December 24, 2010+@                                                        |
| 10.40(29)     |   | Arrangement Agreement between the Registrant and NuLoch Resources Inc., dated January 19, 2011(including Form of Support Agreement between the Registrant and certain NuLoch Resources Inc. shareholders)+ |
| 21.1          |   | List of Subsidiaries##                                                                                                                                                                                     |
| 23.1          |   | Consent of Hein & Associates LLP##                                                                                                                                                                     |
| 23.2          |   | Consent of MaloneBailey, PC##                                                                                                                                                                              |
| 23.3          |   | Consent of Cawley Gillespie & Associates, Inc#                                                                                                                                                         |
| 31.1          |   | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002#**                                                                                                      |
| 31.2          |   | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002#**                                                                                                      |
| 32.1          |   | Certification of the Chief Executive Officer provided pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002#                                        |
| 32.2          |   | Certification of the Chief Financial Officer provided pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002#                                        |
| 99.1          |   | Independent Engineer Reserve Report for the year ended December 31, 2010 prepared by Cawley Gillespie & Associates, Inc.# #                                                                       |

| *      |   | The referenced exhibit is a management contract, compensatory plan or arrangement.                                                                                                                                                               |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                             |
| +      |   | The schedules to this exhibit have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be provided to the SEC upon request.                                                                                                  |
|   |   |                                                                                                                                                                                                                                             |
| @      |   | Portions of this exhibit are subject to a request for confidential treatment and have been redacted and filed separately with the SEC.                                                                                                           |
|   |   |                                                                                                                                                                                                                                             |
| #      |   | Filed herewith.                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                             |
| ##     |   | Filed or furnished as an Exhibit to our Original Form 10-K filed on February 18, 2011.                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                             |
| **     |   | Our original certifications pursuant to Rule 13a-14(a) and Rule 14d-14(a) are filed with the Original Form 10-K filed on February 18, 2011.  The certifications filed with this Amendment are limited to the matters addressed herein. |
|   |   |                                                                                                                                                                                                                                             |
| (1)    |   | Incorporated by reference from the Registrant’s Registration Statement on Form SB-2 filed on March 21, 2006.                                                                                                                          |
|   |   |                                                                                                                                                                                                                                             |
| (2)    |   | Incorporated by reference from the Registrant’s Amendment No. 1 to Registration Statement on Form SB-2 filed on June 9, 2006.                                                                                               |
|   |   |                                                                                                                                                                                                                                             |
| (3)    |   | Incorporated by reference from the Registrant’s annual report on Form 10-KSB for the year ended December 31, 2006, filed on April 2, 2007.                                                                                  |
|   |   |                                                                                                                                                                                                                                             |
| (4)    |   | Incorporated by reference from the Registrant’s quarterly report on Form 10-QSB filed on August 14, 2007.                                                                                                                        |
|   |   |                                                                                                                                                                                                                                             |
| (5)    |   | Incorporated by reference from the Registrant’s Amendment No. 1 to Registration Statement on Form SB-2 filed on September 21, 2007.                                                                                         |
|   |   |                                                                                                                                                                                                                                             |
| (6)    |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on May 28, 2009.                                                                                                                                |
|   |   |                                                                                                                                                                                                                                             |
| (7)    |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on July 14, 2009.                                                                                                                               |
|   |   |                                                                                                                                                                                                                                             |
| (8)    |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on September 15, 2009.                                                                                                                          |
|   |   |                                                                                                                                                                                                                                             |
| (9)    |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on October 29, 2009.                                                                                                                            |
|   |   |                                                                                                                                                                                                                                             |

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| (10)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on November 6, 2009.          |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                           |
| (11)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on November 13, 2009.         |
|   |   |                                                                                                                           |
| (12)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on December 11, 2009.         |
|   |   |                                                                                                                           |
| (13)   |   | Incorporated by reference from the Registrant’s Registration Statement on Form 8-A filed on December 10, 2009. |
|   |   |                                                                                                                           |
| (14)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on February 19, 2010.         |
|   |   |                                                                                                                           |
| (15)   |   | Incorporated by reference from the Registrant’s annual report on Form 10-K filed on March 31, 2009.            |
|   |   |                                                                                                                           |
| (16)   |   | Incorporated by reference from the Registrant’s quarterly report on Form 10-Q filed on August 12, 2010.        |
|   |   |                                                                                                                           |
| (17)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on May 19, 2010.              |
|   |   |                                                                                                                           |
| (18)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on June 24, 2010.             |
|   |   |                                                                                                                           |
| (19)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on June 25, 2010.             |
|   |   |                                                                                                                           |
| (20)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on September 15, 2010.        |
|   |   |                                                                                                                           |
| (21)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on September 30, 2010.        |
|   |   |                                                                                                                           |
| (22)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on November 2, 2010.          |
|   |   |                                                                                                                           |
| (23)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on November 4, 2010.          |
|   |   |                                                                                                                           |
| (24)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on November 15, 2010.         |
|   |   |                                                                                                                           |
| (25)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on December 3, 2010.          |
|   |   |                                                                                                                           |
| (26)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on December 6, 2010.          |
|   |   |                                                                                                                           |
| (27)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on December 30, 2010.         |
|   |   |                                                                                                                           |
| (28)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K/A filed on March 2, 2011.                |
|   |   |                                                                                                                           |
| (29)   |   | Incorporated by reference from the Registrant’s current report on Form 8-K filed on January 25, 2011.          |

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|                       |                                      |                                              |   |   |
|----------------------------|-------------------------------------------|---------------------------------------------------|--------|--------|
|                       | MAGNUM HUNTER RESOURCES CORPORATION  |                                              |
| Date: March 15, 2011  | By:                             | /s/ Gary C. Evans                            |   |
|                       |                                      | Gary C. Evans                                |   |
|                       |                                      | Chairman of the Board and Chief Executive Officer |   |

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