Magnum
Hunter Resources, Inc.600 E. Las Colinas Blvd., Suite 1100, Irving, TX  75039Phone (972) 401-0752   Fax  (972) 401-3110Internet Address: [website omitted]

FOR IMMEDIATE RELEASENEWS

New York Stock Exchange*
  Common    -  MHRAmerican Stock Exchange*   Warrants   -  MHR/WS/A

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# MAGNUM HUNTER APPOINTS NEW BOARD
MEMBER

Irving, Texas, November 12, 2004,
Magnum Hunter Resources, Inc. (MHR: NYSE) announced today that Mr. F. Walker Tucei, Jr.
has been elected to the companys Board of Directors. Mr. Tucei shall be classified
as a Class I Director whose term will expire at the Companys annual meeting of
stockholders in 2006. Mr. Tucei has also been appointed as a new member of the
Companys Audit Committee. He replaces Mr. James R. Latimer, who recently resigned
from the Board. With the addition of Mr. Tucei, Magnum Hunters Board increases to
eight directors, all of which are deemed Independent, with the exception of
Mr. Gary C. Evans.

Mr.    
          Tucei, age 62, retired in 1999 after a distinguished 37 year career with Arthur
          Andersen, LLP. He was admitted to the firms partnership in 1972. During
          his career with Arthur Andersen, LLP, Mr. Tucei served as the New Orleans office
          Partner-in-Charge of the audit practice from 1975 to 1986. He also served as the
          New Orleans office Managing Partner from 1986 to 1999 and was responsible for
          the firms practice in Louisiana, Mississippi, southern Alabama, and
          western Florida. During his career with Arthur Andersen, LLP, Mr. Tucei served
          on various firm related task forces and committees. Mr. Tucei has been involved
          in numerous civic and non profit organizations including serving as President of
          the Southeast Louisiana Council of the Boy Scouts of America and the World Trade
          Center of New Orleans.

A 1963 graduate of the University of
Mississippi with a B.B.A. degree, Mr. Tucei is a Certified Public Accountant (Retired) in
Louisiana and Mississippi. He is a member of both the American Institute and Louisiana
Society of Certified Public Accountants. Mr. Tucei has served since 2003 as a member of
the Board, member of the Governance and Nominating committees and currently serves as
Chairman of the Audit Committee for Newpark Resources, Inc. (NYSE: NR). Since 2000 he has
also been a member of the Audit Committee for the Archdiocese of New Orleans and currently
serves as Chairman of that committee.

Commenting on Mr. Tuceis
appointment, Mr. Jerry W. Box, Chairman of the Board stated, Our Companys
Nominating Committee has worked diligently to recommend a qualified board candidate. Mr.
Walker Tucei, with his many years of extensive managerial, auditing and financial
experience with public and non-public clients in the oil and gas, energy services, mining
and natural resources industries, fulfills all of our expectations. Additionally,
Walkers unselfish involvement in a variety of New Orleans area community and civic
activities further demonstrates he possesses the business ethics and integrity necessary
today as a director of a NYSE listed company. Magnum Hunter shareholders will benefit from
his significant experience and leadership characteristics.

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Magnum Hunter Resources, Inc. is one
of the nations fastest growing independent exploration and development companies
engaged in three principal activities: (1) the exploration, development and production
of crude oil, condensate and natural gas; (2) the gathering, transmission and marketing
of natural gas; and (3) the managing and operating of producing oil and natural gas
properties for interest owners.

The information in this release
includes certain forward-looking statements that are based on assumptions that in the
future may prove not to have been accurate. Those statements, and Magnum Hunter Resources,
Inc.s business and prospects, are subject to a number of risks, including volatility
of oil and gas prices, the need to develop and replace reserves, the substantial capital
expenditures required to fund its operations, environmental risks, drilling and operating
risks, risks related to exploration and development drilling, uncertainties about
estimates of reserves, competition, government regulation, and the ability of the company
to implement its business strategy. These and other risks are described in the
companys reports that are available from the SEC.

# FOR FURTHER
INFORMATION CONTACT: M. BRADLEY DAVIS SENIOR VICE PRESIDENT
 CAPITAL MARKETS (972) 401-0752

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