Exhibit 99.2

                  EXCERPTS FROM PRELIMINARY OFFERING MEMORANDUM
                              AND OTHER INFORMATION

     NOTE:  In this Exhibit 99.2,  unless the context  requires  otherwise,  the
terms "we",  "us" and "our" (or  similar  terms) and  "Magnum  Hunter"  mean Old
Magnum  Hunter and Prize on a combined  basis after  giving  effect to the Prize
merger.  For  purposes  of  this  Exhibit  99.2,  unless  the  context  requires
otherwise,  "Old Magnum  Hunter"  means Magnum  Hunter  Resources,  Inc. and its
consolidated  subsidiaries,  and  "Prize"  means  Prize  Energy  Corp.  and  its
consolidated  subsidiaries,  in each case  without  giving  effect to Old Magnum
Hunter's merger with Prize.

     1. Our proved  reserves as of December 31, 2001 were 921 Bcfe and had a net
present  value  before  income  taxes  discounted  at  10%  of  $867.3  million,
calculated  on the basis of assumed  pricing of $19.50 per Bbl and $2.50 per Mcf
in 2002,  $20.50  per Bbl and $2.80 per Mcf in 2003 and  escalated  3% per annum
thereafter  until  capped  at $40.00  per Bbl and $4.00 per Mcf (with  operating
expenses  likewise  capped when the maximum  prices are reached).  These pricing
assumptions are comparable to current  commercial  bank  assumptions and are not
necessarily indicative of our pricing expectations. Use of these prices does not
conform to PV-10 or other SEC disclosure  requirements,  and amounts  eventually
reported in our SEC  reports  may be higher or lower than the amounts  resulting
from these  assumed  prices.  These  December  31, 2001  reserves  (based on the
assumed  pricing  described  above)  are  located  in the  following  geographic
regions: 424 Bcfe in the Permian Basin, 267 Bcfe in the Mid-Continent Region and
221 Bcfe in the onshore Gulf Coast/offshore Gulf of Mexico.

     2. Old Magnum  Hunter has used,  and we will use,  the full cost  method of
accounting  for our  investment in oil and gas  properties.  Under the full cost
method of accounting,  all costs of acquisition,  exploration and development of
oil and gas proved reserves are capitalized into a "full cost pool" as incurred,
and  properties  in the pool are  depleted and charged to  operations  using the
unit-of-production  method  based on the ratio of  current  production  to total
proved oil and gas reserves.  To the extent that such capitalized  costs (net of
accumulated depreciation, depletion and amortization) less deferred taxes exceed
the PV-10 of estimated future net cash flow from proved reserves of oil and gas,
and the lower of cost or fair  value of  unproved  properties  after  income tax
effects,  such  excess  costs  are  charged  to  operations.  Once  incurred,  a
write-down of oil and gas  properties is not  reversible at a later date even if
oil or gas prices subsequently  increase.  Old Magnum Hunter's capitalized costs
exceeded the PV-10  limitation  utilizing prices in effect at September 30, 2001
by $81.5  million.  However,  no write-down for impairment of oil and properties
was  required  as a  result  of the  increase  in oil  and  natural  gas  prices
subsequent  to September  30, 2001 and prior to the  company's  release of third
quarter financial results. As occurred in 1998, the latter part of the year 2001
marked a period of severe declines in oil and gas prices.  At December 31, 2000,
NYMEX  prices were $26.80 per Bbl for oil and $9.78 per Mcf for gas. At December
31,  2001,  NYMEX  prices  were  $19.78  per Bbl for oil (a  decline of 26% from
year-end 2000) and $2.72 per Mcf for gas (a decline of 72% from year-end  2000).
While Old Magnum Hunter may be required to record an impairment for 2001 when it
ultimately reports 2001 financial results,  we cannot yet determine whether such
a charge will be required.  The non-cash  impairment of Old Magnum Hunter's full
cost pool is not  anticipated to exceed  approximately  $75 million based on our
internal  estimates and on oil and natural gas prices subsequent to December 31,
2001. If this maximum impairment is ultimately recorded, Old Magnum Hunter would
record a net loss on its financial  statements for 2001. Should commodity prices
rise before it reports  fiscal 2001  financial  results,  Old Magnum  Hunter may
record a smaller  impairment or none at all,  depending on the extent of such an
increase,  if any. Factors that could cause our internal estimate of the maximum
charge  for 2001 to differ  from the actual  amount  include  commodity  prices,
volumes and capital costs.

     3. We anticipate that the combined company's capital expenditure budget for
2002 will be approximately  $115.0 million, of which approximately $61.0 million
is allocated for  lower-risk  onshore  exploitation  and  development  projects,
approximately  $12.0  milllion is  allocated  for  offshore  infrastructure  and
development  projects and approximately  $42.0 million is allocated for offshore
exploration projects.


                                        1
<PAGE>

     4.  The   following   table  sets  forth  as  of  September  30,  2001  the
capitalization on a consolidated  basis (i) of Old Magnum Hunter and Prize on an
actual  basis and (ii) of Magnum  Hunter  giving  pro forma  effect to the Prize
merger,  as adjusted to give effect to this offering,  borrowings  under our new
credit  facility and the  application of the estimated net proceeds as described
under  "Use of  Proceeds."  The  table  should be read in  conjunction  with the
financial  statements and related notes included in this offering  memorandum or
incorporated by reference.

<TABLE>
<CAPTION>
<S>                                                   <C>                <C>               <C>

                                                                      As of September 30, 2001
                                                           Old Magnum                           Pro Forma
                                                             Hunter             Prize          As Adjusted
                                                        ----------------  ----------------  --------------
                                                                           (in thousands)

Cash and cash equivalents.............................. $         3,808   $         5,150   $         8,230
                                                        ===============   ===============   ===============
Long-term debt (including current maturities):
   New revolving credit facility (1)...................             -                 -             198,095
   Existing credit facility of Old Magnum Hunter (1)...         136,576              n/a                -
   Existing credit facility of Prize (1)...............            n/a            250,819               -
   Notes offered hereby................................             -                 -             250,000
   10% Senior Notes due 2007...........................         129,500              n/a            129,500
                                                        ---------------   ----------------  ---------------
      Total long-term debt.............................         266,076           250,819           577,595
                                                        ---------------   ---------------   ---------------
Production payment liability...........................             215               -                 215
Total stockholders' equity ............................         117,670           162,970           393,802
                                                        ----------------  ----------------  ---------------
      Total capitalization............................. $       383,961   $       413,789   $       971,612
                                                        ===============   ================  ================
</TABLE>

-------------------
     (1) The reflected  amount  borrowed under the new credit  facility  assumes
that the cash portion of the Prize merger  consideration  will be $50.1  million
and that the amount of outstanding  indebtedness at closing under the Old Magnum
Hunter and Prize senior credit  facilities (which will be repaid) will be $136.6
million and $250.8  million,  respectively,  which are the actual  September 30,
2001  amounts.  The actual  cash  portion of the  merger  consideration  will be
different if the value per share of Old Magnum  Hunter common stock for purposes
of the merger  consideration  is less than or greater than $8.00.  If the actual
value is $7.50 or less, the cash portion would increase to $65.8 million.  As of
January 31, 2002,  the amount of outstanding  indebtedness  under the Old Magnum
Hunter and Prize  credit  facilities  was  $152.5  million  and $236.8  million,
respectively.

     5. Estimated Fourth Quarter Results for Old Magnum Hunter. The consolidated
financial  statements  for Old Magnum Hunter for the fourth quarter of 2001 have
not been  finalized,  but set forth in this  paragraph  is certain  preliminary,
unaudited  information  that is based on company  estimates.  Old Magnum  Hunter
expects to report  average daily  production  for the fourth  quarter of 2001 of
approximately  99,000 Mcfe/d compared to 72,560 Mcfe/d for the fourth quarter of
2000, an increase of 35%.  Operating revenues for the fourth quarter of 2001 are
expected to be approximately $29 million, which is a decrease from $43.1 million
reported in the fourth quarter of 2000.  EBITDA is expected to be  approximately
$14  million  for the  fourth  quarter of 2001,  which is a decrease  from $26.7
million  reported  for the fourth  quarter of 2000.  The  decreases in operating
revenues  and EBITDA for the fourth  quarter of 2001,  as compared to the fourth
quarter of 2000, are consistent with the substantial decline in commodity prices
experienced over the same period.

     6.  Old  Magnum  Hunter  is  currently   negotiating  a  proposed  sale  of
approximately $50 million of properties to GE Capital.

     7. We expect that production and general and administrative  costs per Mcfe
in 2002, pro forma for the combined  company,  will be approximately  $.0.73 and
$0.24, respectively.

                                        2