# EXHIBIT 10.9

Execution Form

WAIVER
AND EIGHTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

This
Waiver and Eighth Amendment to Fourth Amended and Restated Credit Agreement (this
Amendment) dated as of October 31, 2003 (the Amendment
Effective Date), is by and among MAGNUM HUNTER RESOURCES, INC., a Nevada
corporation (the Borrower), each Bank (as defined in the Credit
Agreement referred to below), DEUTSCHE BANK TRUST COMPANY AMERICAS(formerly named
Bankers Trust Company), individually, as administrative agent (in such capacity, together
with its successors in such capacity, the Administrative Agent), as
collateral agent (in such capacity, together with its successors in such capacity, the
Collateral Agent), and as letter of credit issuing bank (in such
capacity, together with its successors in such capacity, the Issuer),
CIBC INC., individually and as syndication agent (in such capacity together with
its successors in such capacity, the Syndication Agent), and BNP
PARIBAS, a French bank acting through its Houston Agency, individually and as
documentation agent (in such capacity, together with its successors in such capacity, the
Documentation Agent).

R E C I T A L S:

WHEREAS,
the Borrower, each Bank then a party, the Administrative Agent, the Collateral Agent, the
Syndication Agent, the Documentation Agent (collectively, the Agents),
and the Issuer have heretofore entered into that certain Fourth Amended and Restated
Credit Agreement dated as of March 15, 2002 (the Original Credit
Agreement), pursuant to which the Banks have agreed to make revolving credit
loans to, and participate in letters of credit issued for, the benefit of the Borrower
under the terms and provisions stated therein; and

WHEREAS,
the Original Credit Agreement has been amended by that certain First Amendment to Fourth
Amended and Restated Credit Agreement dated as of April 19, 2002, and by that certain
Second Amendment to Fourth Amended and Restated Credit Agreement dated as of July 3, 2002,
and by that certain Third Amendment to Fourth Amended and Restated Credit Agreement dated
as of August 28, 2002, and by that certain Fourth Amendment to Fourth Amended and Restated
Credit Agreement dated as of September 6, 2002, and by that certain Waiver and Fifth
Amendment to Fourth Amended and Restated Credit Agreement dated as of November 20, 2002,
and by that certain Waiver and Sixth Amendment to Fourth Amended and Restated Credit
Agreement dated as of May 2, 2003 (the Sixth Amendment), and by that
certain Seventh Amendment to Fourth Amended and Restated Credit Agreement dated as of
August 8, 2003, (the Original Credit Agreement, as so amended, and as otherwise amended
from time to time prior to the Amendment Effective Date, the Credit
Agreement); and

WHEREAS,
the Borrower has requested that the Banks, the Agents and the Issuer waive the provisions
of Section 7.2.6 of the Credit Agreement, which limits certain Restricted Payments (as
defined therein), in order to permit the Borrower to redeem and retire notes issued under
the 1997 Indenture (1997 Notes) in an aggregate principal amount of up
to $60,000,000 from and after the Amendment Effective Date until (and including) December
31, 2003 (the Second Permitted 2003 Redemption); and

WHEREAS,
the Borrower has requested that the Credit Agreement be amended to allow Bank of America,
N.A. (BofA), and Société Générale
(SocGen; and together with BofA, collectively, the New
Banks) to become Banks party to the Credit Agreement, as set forth
herein; and

WHEREAS,
the Borrower also proposes that certain other amendments and modifications be made to the
Credit Agreement as set forth herein; and

WHEREAS,
subject to the terms and conditions of this Amendment, the Banks party to the Credit
Agreement immediately prior to the effectiveness of this Amendment (the Existing
Banks), the New Banks, the Agents and the Issuer have agreed to enter into this
Amendment in order to effectuate such amendments and modifications;

NOW,
THEREFORE, in consideration of the premises herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

Section 1. Definitions.  Capitalized  terms used in this  Amendment,  to the extent  not  otherwise  defined
herein, shall have the same meaning as in the Credit Agreement.

Section 2. Amendments to Credit
Agreement. The Credit Agreement is hereby amended by deleting the existing Schedule
III-B to the Credit Agreement and inserting in its place as the new Schedule III-B to the
Credit Agreement the text contained in Attachment 1 attached to this Amendment.

Section 3.  BofA and SocGen as Banks.

|(a) | Upon the effectiveness of this Amendment and by its execution and delivery
          hereof, each of BofA and SocGen shall be deemed automatically to have become a
          party to the Credit Agreement, shall have all the rights and obligations of a
          Bank under the Credit Agreement and the other Loan Documents as if
          each were an original signatory thereto, and shall agree, and does hereby agree,
          to be bound by the terms and conditions set forth in the Credit Agreement and
          the other Loan Documents to which the Banks are a party, in each case, as if
          each were an original signatory thereto.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) | Each of BofA and SocGen (i) confirms that it has received a copy of the Credit
          Agreement, together with copies of the financial statements referred to in
          Section 7.1.1 thereof and such other documents and information as it has deemed
          appropriate to make its own credit analysis and decision to enter into this
          Amendment and the Credit Agreement; (ii) agrees that it will, independently and
          without reliance upon any Agent, the Issuer, any Arranger or any other Bank and
          based on such documents and information as it shall deem appropriate at the
          time, continue to make its own credit decisions in taking or not taking action
          under the Credit Agreement; (iii) represents and warrants that its name set
          forth herein is its legal name; (iv) appoints and authorizes each Agent to take
          such action as agent on its behalf and to exercise such powers and discretion
          under the Loan Documents as are delegated to such Agent by the terms thereof,
          together with such powers and discretion as are reasonably incidental thereto;
          (vi) agrees that it will perform in accordance with their terms all of the
          obligations that by the terms of the Credit Agreement are required to be
          performed by it as a Bank; and (vii) attaches any U.S. Internal Revenue Service
          forms required under Section 4.6(b) of the Credit Agreement.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|(c) | Each of BofA and SocGen hereby advises each other party hereto that its
          respective address for notices, its respective Domestic Lending Office and its
          respective LIBOR Office shall be as set forth below its name on Attachment 2
          hereto.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 4.  Waiver of Section 7.2.6 of Credit Agreement.

|(a) | Section 7.2.6 of the Credit Agreement, which restricts the Borrower and any of
          its Restricted Subsidiaries from making any payment or prepayment of principal
          of, or making any payment of interest on, any Indebtedness on any day other than
          the stated, scheduled date for such payment or prepayment set forth in the
          documents and instruments memorializing such Indebtedness, or which would
          violate the subordination provisions of any Subordinated Debt (except as
          expressly permitted by Section 7.2.6 of the Credit Agreement or as otherwise
          permitted in writing by the Administrative Agent with the consent of the
          Majority Banks), is hereby waived insofar as, and only insofar as, the Borrower
          shall be permitted to redeem and retire 1997 Notes in an aggregate principal
          amount of up to $60,000,000 during the period from and after the Amendment
          Effective Date until (and including) December 31, 2003, which Second
          Permitted 2003 Redemption may be funded, if necessary, with the proceeds of
          Loans made under the Credit Agreement; provided, however, that no
          Event of Default shall have occurred and be continuing as of the date of such
          redemption and retirement.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) | The parties hereto acknowledge and agree that the redemption of 1997 Notes by
          the Borrower as permitted by this Section 4 shall not reduce the remaining
          availability of the Borrower or its Restricted Subsidiaries to make other
          Restricted Payments in accordance with, and to the extent permitted by, Section
          7.2.6 of the Credit Agreement.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 5.   Increase of Borrowing Base; Restriction on Borrowing Availability.

|(a) | Subject to the restrictions on availability set forth in clause (b) of this
          Section 5, the Borrowing Base shall be increased to $350,000,000 from and after
          the Amendment Effective Date until the Borrowing Base shall either be (i)
          reduced in accordance with clause (c) of this Section 5 or (ii) otherwise
          redetermined in accordance with the Credit Agreement.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) | Notwithstanding anything to the contrary in the Credit Agreement or this
          Amendment, the Borrower covenants and agrees that from and after the Amendment
          Effective Date until December 31, 2003, the Borrower shall maintain at all times
          sufficient availability under the Credit Agreement to redeem and retire 1997
          Notes in a principal amount equal to the positive difference (if any) of (i)
          $50,000,000, minus (ii) the principal amount of all 1997 Notes redeemed
          or retired by the Borrower from and after the Amendment Effective Date as part
          of the Second Permitted 2003 Redemption, as evidenced by the written
          confirmation delivered in accordance with Section 8.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|(c) | Unless the Borrowing Base shall have been redetermined in accordance with the
          Credit Agreement (in which case this Section 5(c) shall automatically become
          void), the Borrowing Base shall be redetermined automatically on January 1,
          2004, to equal the lesser of (i) $350,000,000, and (ii) the sum of (A)
          $300,000,000 plus (B) the aggregate principal amount of 1997 Notes
          redeemed and retired as part of the Second Permitted 2003 Redemption (which
          aggregate principal amount shall be evidenced by the written confirmation
          delivered in accordance with Section 8), until the Borrowing Base shall be
          redetermined in accordance with the Credit Agreement.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) | Both the Borrower, on the one hand, and the Administrative Agent and the Banks,
          on the other hand, agree that neither of the redeterminations of, or adjustments
          to, the Borrowing Base pursuant to clauses (a) and (c) of this Section 5 shall
          constitute a special redetermination of the Borrowing Base pursuant to Section
          2.8.3 of the Credit Agreement.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 6.  Covenant to Redeem and Retire.  The Borrower covenants and agrees that:

|(a) | so long as the aggregate principal amount of 1997 Notes redeemed as part of the
          Second Permitted 2003 Redemption is less than $50,000,000, the Borrower shall
          use the proceeds of any Loans under the Credit Agreement that, after giving
          effect to such Loans, would cause the aggregate amount of all Loans and all
          Letter Credit Liabilities then outstanding to exceed $300,000,000, only to
          redeem and retire 1997 Notes (including the payment of any reasonable and
          customary costs, expenses and fees associated therewith) and for no other
          purpose;
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) | so long as the aggregate principal amount of 1997 Notes redeemed as part of the
          Second Permitted 2003 Redemption is less than $50,000,000, any Borrowing Request
          submitted by the Borrower that would cause the aggregate outstanding principal
          amount of all Loans plus the aggregate amount of all Letter of Credit
          Liabilities to exceed $300,000,000 (after giving effect to such Borrowing) shall
          specifically direct that all of the proceeds of such Borrowing shall be
          deposited into an account at a depository institution for the purposes of
          redeeming and retiring the 1997 Notes, provided that such depository institution
          and the type and nature of such account shall both be acceptable to the
          Administrative Agent;
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) | promptly following the Amendment Effective Date the Borrower shall cause all
          1997 Notes previously repurchased by the Borrower or any Subsidiary of the
          Borrower to be retired in accordance with the provisions of the 1997 Indenture.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 7. Conditions
Precedent. The effectiveness of this Amendment is subject to the satisfaction of the
following conditions precedent:

|(a) | Executed Amendment. The Administrative Agent shall have received a
          counterpart of this Amendment duly executed by the Borrower, the Agents, the
          Issuer and each Bank (including each New Bank), and duly acknowledged by each of
          the Guarantors.
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|(b) | Replacement Notes. The Borrower shall deliver to the Administrative Agent
          on behalf of each Bank listed on Attachment 1 hereto a promissory note dated the
          Effective Date and payable to each such Bank in a maximum principal amount equal
          to such Banks Percentage (as shown on Attachment 1 hereto) of Five Hundred
          Million Dollars, which Note shall be a renewal and replacement of, and shall be
          given in substitution and exchange for, but not in payment of, those Notes held
          by each Existing Bank (as defined below) prior to the effectiveness of this
          Amendment.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) | Other Conditions. The Borrower shall have confirmed and acknowledged to
          the Agents, the Issuer and the Banks, and by its execution and delivery of this
          Amendment the Borrower does hereby confirm and acknowledge to the Administrative
          Agent and the Banks, that (i) the execution, delivery and performance of this
          Amendment has been duly authorized by all requisite corporate action on the part
          of the Borrower; (ii) the Credit Agreement and each other Loan Document to which
          it is a party constitute valid and legally binding agreements enforceable
          against the Borrower in accordance with their respective terms, except as such
          enforceability may be limited by bankruptcy, insolvency, reorganization,
          moratorium, fraudulent transfer or other similar laws relating to or affecting
          the enforcement of creditors rights generally and by general principles of
          equity; (iii) the representations and warranties by the Borrower contained in
          the Credit Agreement and in the other Loan Documents are true and correct on and
          as of the date hereof in all material respects as though made as of the date
          hereof; and (iv) no Default or Event of Default exists under the Credit
          Agreement or any of the other Loan Documents.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 8. Condition
Subsequent. Promptly following the redemption and retirement of any 1997 Notes, the
Borrower covenants to deliver to the Administrative Agent a certificate of an Authorized
Officer of the Borrower setting forth the principal amount of all 1997 Notes that have
been redeemed and retired by the Borrower since the Amendment Effective Date in accordance
with the 1997 Indenture, together with such other related materials evidencing such
redemption and retirement as the Administrative Agent may request in its sole discretion.

Section 9. Fees.  Concurrently  with the  effectiveness  of this  Amendment,  the Borrower  shall pay to the
Administrative Agent:

|(a) | for the account of each Existing Bank that approves this Amendment (as evidenced
          by such Existing Banks execution and delivery of a signature page to this
          Amendment), a fee equal to one-twentieth of one percent (0.050%) of such
          Existing Banks respective Percentage immediately prior to the
          effectiveness of this Amendment of $300,000,000;
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) | for the account of each Existing Bank that approves this Amendment (as evidenced
          by such Existing Banks execution and delivery of a signature page to this
          Amendment), a fee equal to one-fourth of one percent (0.250%) of the positive
          difference, if any, of (i) each Existing Banks respective Percentage
          immediately after giving effect to this Amendment of $350,000,000, minus
          (ii) each Existing Banks respective Percentage immediately prior to the
          effectiveness of this Amendment of $300,000,000; and
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|(c) | for the account of each New Bank, a fee equal to one-fourth of one percent
          (0.250%) of each New Banks respective Percentage immediately after giving
          effect to this Amendment of $350,000,000.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 10. Ratification of Credit
Agreement. Except as expressly amended, modified or waived by this Amendment, the
terms and provisions of the Credit Agreement and the other Loan Documents are ratified and
confirmed in all respects and shall continue in full force and effect.

Section 11. Expenses. The
Borrower agrees to pay on demand all expenses set forth in Section 10.3 of the Credit
Agreement.

Section 12.    Renewal and Continuation of Existing Loans. Upon the effectiveness of this Amendment:

|(a) | All of the Obligations outstanding under the Credit Agreement as of the date of
          such effectiveness shall hereby be restructured, rearranged, renewed, extended
          and continued under the Credit Agreement (as amended hereby) and all Loans
          outstanding under the Credit Agreement as of the date of such effectiveness
          shall hereby become Loans outstanding under the Credit Agreement (as amended
          hereby).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) | In connection herewith, the Existing Banks hereby sell, assign, transfer and
          convey, and each of BofA and SocGen hereby purchases and accepts, so much of the
          aggregate Commitments under, Loans outstanding under, and participations in
          Letters of Credit issued pursuant to, the Credit Agreement such that the
          Percentage of each Bank (including the Existing Banks and each of BofA and
          SocGen) shall be as set forth on Schedule III-B to the Credit Agreement (as
          amended hereby). The foregoing assignments, transfers and conveyances are
          without recourse to the Existing Banks and without any warranties whatsoever by
          any Agent, the Issuer or any Existing Bank as to title, enforceability,
          collectibility, documentation or freedom from liens or encumbrances, in whole or
          in part, other than the warranty of each Existing Bank that it has not
          previously sold, transferred, conveyed or encumbered such interests.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section 13. Termination of Waiver
for Permitted Refinancing Redemption. The waiver set forth in Section 5(a)(ii) of the
Sixth Amendment, which permitted the Borrower or any Restricted Subsidiary to redeem and
retire 1997 Notes in an aggregate principal amount of up to $60,000,000, with the proceeds
of the Permitted Refinancing Securities (as defined in the Sixth Amendment), is hereby
terminated on and as of the Amendment Effective Date.

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Section 14. Miscellaneous. (a)
On and after the effectiveness of this Amendment, each reference in each Loan Document to
this Agreement, this Note, this Mortgage, this
Guaranty, this Pledge Agreement, hereunder,
hereof or words of like import, referring to such Loan Document, and each
reference in each other Loan Document to the Credit Agreement, the
Notes, the Mortgages, the Guaranty, the Pledge
Agreement, thereunder, thereof or words of like import
referring to the Credit Agreement, the Notes, or the Mortgage, the Guaranty, the Pledge
Agreement or any of them, shall mean and be a reference to such Loan Document, the Credit
Agreement, the Notes, the Mortgage, the Guaranty, the Pledge Agreement or any of them, as
amended or otherwise modified by this Amendment; (b) the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any default of the
Borrower or any right, power or remedy of the Administrative Agent or the Banks under any
of the Loan Documents, nor constitute a waiver of any provision of any of the Loan
Documents; (c) this Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one and the same
agreement; and (d) delivery of an executed counterpart of a signature page to this
Amendment by telecopier shall be effective as delivery of a manually executed counterpart
of this Amendment.

Section 15. Severability. Any
provisions of this Amendment held by court of competent jurisdiction to be invalid or
unenforceable shall not impair or invalidate the remainder of this Amendment and the
effect thereof shall be confined to the provisions so held to be invalid or unenforceable.

Section 16. Applicable Law; Entire
Agreement. THIS AMENDMENT AND EACH OTHER LOAN DOCUMENT DELIVERED PURSUANT HERETO
SHALL EACH BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE
PRINCIPLES THEREOF RELATING TO CONFLICT OF LAW, EXCEPT SECTION 5-1401 OF THE NEW YORK
GENERAL OBLIGATIONS LAW). This Amendment constitutes the entire understanding among
the parties hereto with respect to the subject matter hereof and supersedes any prior
agreements, written or oral, with respect thereto.

Section 17. Successors and
Assigns. This Amendment is binding upon and shall inure to the benefit of the Agents,
the Issuer, the Banks and the Borrower and their respective successors and assigns.

Section 18. Headings. The
headings, captions, and arrangements used in this Amendment are for convenience only and
shall not affect the interpretation of this Amendment.

Section 19. NO ORAL
AGREEMENTS. THIS AMENDMENT AND ALL OTHER INSTRUMENTS, DOCUMENTS AND AGREEMENTS
EXECUTED AND DELIVERED IN CONNECTION HEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE
PARTIES WITH RESPECT TO THE MATTERS HEREIN CONTAINED, AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[Signature
pages follow]

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EXECUTED as of the day and
year first above written.

| | BORROWER:MAGNUM HUNTER RESOURCES, INC.By:/s/Chris Tong      Name:       Chris Tong      Title:        Senior Vice President                      Chief Financial Officer                                              
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | AGENTS, BANKS AND ISSUER:DEUTSCHE BANK TRUST COMPANY AMERICAS (formerly named Bankers Trust Company), as Administrative Agent, Collateral Agent, Issuer and a Bank By: ________________________      Name:      Title:
| | CIBC INC., as Syndication Agent and a Bank By: ________________________       Name:      Title:                                                                                                                       

S-1

| | BNP PARIBAS, as Documentation Agent and a BankBy:_____________________      Name:     Title:
                    - and -
By:_____________________       Name:      Title:
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | FORTIS CAPITAL CORP., as a BankBy:_____________________      Name:     Title:
                     - and -
By:_____________________      Name:     Title:                
| | BANK OF SCOTLAND, as a BankBy: ________________________       Name:       Title:                                                                                         
| | BANK OF NOVA SCOTIA, as a BankBy: ________________________      Name:      Title:                                                                                        

S-2

| | UNION BANK OF CALIFORNIA, N.A., as a BankBy: ________________________      Name:      Title:                              
| | --------------------------------------------------------------------------------------------------------------------------
| | COMPASS BANK, as a BankBy: ________________________      Name:      Title:                                                
| | COMERICA BANK, successor by merger to Comerica Bank - Texas, as a BankBy: ________________________       Name:      Title:
| | WASHINGTON MUTUAL BANK, FA, as a BankBy: __________________________       Name:      Title:                               
| | HIBERNIA NATIONAL BANK, as a BankBy: __________________________      Name:      Title:                                    

S-3

| | U.S. BANK NATIONAL ASSOCIATION, as a BankBy: __________________________       Name:      Title:                 
| | ----------------------------------------------------------------------------------------------------------------
| | BMO NESBITT BURNS FINANCING, INC., as a BankBy: __________________________       Name:      Title:              
| | AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED, as a BankBy: __________________________       Name:      Title:
| | SOUTHWEST BANK OF TEXAS N.A., as a BankBy: __________________________       Name:      Title:                   
| | STERLING BANK, as a BankBy: __________________________       Name:      Title:                                  

S-4

| | BANK OF AMERICA, N.A., as a BankBy: __________________________       Name:      Title:
| | --------------------------------------------------------------------------------------
| | SOCIETE GENERALE, as a BankBy: __________________________       Name:      Title:     

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ACKNOWLEDGMENT
BY GUARANTORS

Each
of the undersigned Guarantors hereby (i) consents to the terms and conditions of that
certain Waiver and Eighth Amendment to Fourth Amended and Restated Credit Agreement dated
as of October 31, 2003 (the Eighth Amendment), (ii) acknowledges and
agrees that its consent is not required for the effectiveness of the Eighth Amendment,
(iii) ratifies and acknowledges its respective Obligations under each Loan Document to
which it is a party, and (iv) represents and warrants that (a) no Default or Event of
Default has occurred and is continuing, (b) it is in full compliance with all covenants
and agreements pertaining to it in the Loan Documents, and (c) it has reviewed a copy of
the Eighth Amendment.

Executed
to be effective as of October 31, 2003.

| | GUARANTORS:HUNTER GAS GATHERING, INC.GRUY PETROLEUM MANAGEMENT CO.MAGNUM HUNTER PRODUCTION, INC.CONMAG ENERGY CORPORATIONTRAPMAR PROPERTIES, INC. PINTAIL ENERGY, INC. PRIZE OPERATING COMPANYPEC (DELAWARE), INC.OKLAHOMA GAS PROCESSING, INC. By:  /s/Chris Tong     Name:     Chris Tong     Title:       Senior Vice President and                     Chief Financial Officer
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | PRIZE ENERGY RESOURCES, L.P.By:     Prize Operating Company,           as its general partner
By:_________________________      Name:     Senior Vice President and                     Chief Financial Officer                                                                                                                                                                   

S-6

ATTACHMENT 1

Schedule
III-B>

PERCENTAGES

|Bank                                            | Percentage
|----------------------------------------------- | ----------
|Deutsche Bank Trust Company Americas            |           
|CIBC Inc.                                       |           
|BNP Paribas                                     |           
|Fortis Capital Corp.                            |           
|Bank of Nova Scotia                             |           
|Bank of Scotland                                |           
|BMO Nesbitt Burns Financing, Inc.               |           
|Union Bank of California, N.A                   |           
|Washington Mutual Bank, FA                      |           
|Australia and New Zealand Banking Group Limited |           
|Comerica Bank                                   |           
|Compass Bank                                    |           
|U.S. Bank National Association                  |           
|Hibernia National Bank                          |           
|Southwest Bank of Texas, N.A                    |           
|Sterling Bank                                   |           
|Bank of America, N.A                            |           
|Societe Generale                                |           
|Total                                           |           

Attachment 1 - Page 1

ATTACHMENT 2

|Address for Notices:     Institution Name:     Attention:        Telephone:       Facsimile: | BANK OF AMERICA, N.A.  Bank of America, N.A. Steven A. Mackenzie 901 Main Street, 67th Floor Dallas, Texas 75202(214) 209-3680 (214) 209-3140
|-------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------
|Domestic Office:         Telephone:       Facsimile:                                         | Sharlette Wright 901 Main Street, 67th Floor Dallas, Texas 75202(214) 209-1150 (214) 209-3140                                                
|LIBOR Office:         Telephone:       Facsimile:                                            | Sharlette Wright  901 Main Street, 67th Floor Dallas, Texas 75202 (214) 209-1150(214) 209-3140                                               

Attachment 2 - Page 1

|Address for Notices:       Institution Name:     Attention:       Telephone:      Facsimile: | SOCIETE GENERALE Societe Generale Mary McCormack  560 Lexington Avenue, 4th Floor New York, New York  10022 (212) 278-6128 (212) 278-6240
|-------------------------------------------------------------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------
|With a Copy to:     Attention:     Telephone:      Facsimile:                                | Spencer Smith1111 Bagby, Suite 2020  Houston, Texas 77002(713) 759-6301 (713) 650-0824                                                   
|Domestic Office:                                                                             | 2001 Ross Avenue, Suite 4800  Dallas, Texas 75201                                                                                        
|LIBOR Office:                                                                                | 2001 Ross Avenue, Suite 4800 Dallas, Texas 75201                                                                                         

Attachment 2 - Page 2