Magnum
Hunter Resources, Inc.600 E. Las Colinas Blvd., Suite 1100, Irving, TX  75039Phone (972) 401-0752   Fax  (972) 401-3110Internet Address: http://www.magnumhunter.com

FOR IMMEDIATE RELEASENEWS

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

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# MAGNUM HUNTER
ANNOUNCES APPOINTMENT OF RICHARD R. FRAZIER AS
PRESIDENT AND CHIEF EXECUTIVE OFFICER TO BE EFFECTIVE APRIL 4,
2005

Irving, Texas, March 11, 2005, Magnum
Hunter Resources, Inc. (NYSE: MHR) announced today that, effective April 4, 2005, Mr.
Richard R. Frazier has been appointed President and Chief Executive Officer
(CEO) of the Company on an interim basis through closing of the recently
announced merger with Cimarex Energy, Inc. (NYSE: XEC). On January 26, 2005, Magnum Hunter
and Cimarex Energy announced that their respective Boards of Directors had unanimously
approved an agreement and plan of Merger that provides for the acquisition of Magnum
Hunter by Cimarex Energy. Closing is anticipated before the end of the second quarter of
2005, subject to customary regulatory approvals.

As previously announced by Magnum
Hunter on October 7, 2004, Company founder and current President and CEO, Mr. Gary C.
Evans, will be retiring from the Company on April 4, 2005 after twenty years of very
distinguished service to the Company. Mr. Evans will continue to serve as a member of
Magnum Hunters Board of Directors.

Mr. Frazier currently serves as Magnum Hunters Executive Vice President and
          Chief Operating Officer. He joined the Company in 1994. Mr. Frazier has over 25
          years of direct experience in the energy industry and is a 1970 graduate of the
          University of Tulsa with a Bachelor of Science Degree in Petroleum Engineering.
          He is a registered Professional Engineer in Texas and a member of the Society of
          Petroleum Engineers and many other professional organizations.

Commenting on the announcement today,
Mr. Jerry Box, Chairman of the Board stated, The Board of Directors is extremely
grateful for all of the positive contributions and accomplishments Gary Evans has achieved
for Magnum Hunter and its shareholders over the past twenty years. The Board is very
pleased to announce Dick Fraziers appointment as President and CEO. Dick is the
perfect choice to continue guiding the Company forward during the interim period prior to
the successful completion of the announced merger with Cimarex Energy.

# Recent Announcement To Be Acquired by Cimarex Energy

On January 26, 2005,  Magnum Hunter and Cimarex Energy Inc.  (NYSE:XEC)  announced that their respective boards
of directors had approved an agreement and plan of merger that  provides for the  acquisition  of Magnum Hunter
by Cimarex Energy.  Closing is anticipated  before the end of the second quarter in 2005,  subject to customary
regulatory approvals.

Under the terms of the proposed  agreement,  Magnum  Hunter  shareholders  will receive 0.415 shares of Cimarex
Energy  common stock for each share of Magnum  Hunter  common stock that they own. The merger is expected to be
non-taxable  to the  shareholders  of both  companies.  In  addition to the merger  consideration  and prior to
closing,  Magnum Hunter intends to distribute its ownership  interest in TEL Offshore Trust  (NasdaqSC:  TELOZ)
to its common stockholders as a special dividend.

As a result of the merger  transaction  and based on the 87.5 million  Magnum Hunter  common  shares  currently
outstanding,  Cimarex  Energy  expects to issue  approximately  36.3 million  common shares to Magnum  Hunters
common  stockholders.  On that basis,  it is anticipated  that after closing,  the combined  company would have
approximately  78 million  basic  shares  outstanding.  Cimarex  Energy  shareholders  would own 53 percent and
Magnum Hunter shareholders will own 47 percent of the combined entity.

# About Magnum Hunter
Resources, Inc.

Magnum Hunter Resources, Inc.,
located in Irving, TX, is an independent oil and gas exploration and production company
engaged in three principal activities: (i) the exploration, development and production of
crude oil, condensate and natural gas; (ii) the gathering, transmission and marketing of
natural gas; and (iii) the managing and operating of producing oil and natural gas
properties for interest owners. Its operations are concentrated in the Permian Basin of
West Texas and New Mexico, the Gulf of Mexico and in the Mid-Continent and Gulf Coast
areas of the U.S.

# About Cimarex Energy

Cimarex Energy Co., headquartered in
Denver, CO, is an independent oil and gas exploration and production company with
operations focused in the Mid-Continent and Gulf Coast areas of the U.S. Its principal
operations offices are located in Tulsa, New Orleans and Houston.

This communication contains
statements that constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based on Cimarex Energy Co.
and Magnum Hunter Resources, Inc. current expectations and beliefs and are subject to a
number of risks, uncertainties and assumptions that could cause actual results to differ
materially from those described in the forward-looking statements. Risks, uncertainties
and assumptions include 1) the possibility that the companies may be unable to obtain
stockholder or regulatory approvals required for the acquisition; 2) the possibility that
problems may arise in successfully integrating the businesses of the two companies; 3) the
possibility that the acquisition may involve unexpected costs; 4) the possibility that the
combined company may be unable to achieve cost-cutting synergies; 5) the possibility that
the businesses may suffer as a result of uncertainty surrounding the acquisition; 6) the
possibility that the industry may be subject to future regulatory or legislative actions;
7) the volatility in commodity prices for oil and gas; 8) the presence or recoverability
of estimated reserves; 9) the ability to replace reserves; 10) environmental risks; 11)
drilling and operating risks; 12) exploration and development risks; 13) competition; 14)
the ability of management to execute its plans to meet its goals and other risks that are
described in SEC reports filed by Cimarex and Magnum Hunter. Because forward-looking
statements involve risks and uncertainties, actual results and events may differ
materially from results and events currently expected by Cimarex and Magnum Hunter.
Cimarex and Magnum Hunter assume no obligation and expressly disclaim any duty to update
the information contained herein except as required by law.

Additional Information About
the Acquisition and Where to Find It:

In connection with the proposed
acquisition, Cimarex and Magnum Hunter will file relevant materials with the SEC,
including one or more registration statement(s) that contain a prospectus and a joint
proxy statement. Investors and security holders of Cimarex and Magnum Hunter are urged
to read these documents (if and when they become available) and any other relevant
documents filed with the SEC, as well as any amendments or supplements to those documents,
because they will contain important information about Cimarex, Magnum Hunter and the
merger. Investors and security holders may obtain these documents (and any other
documents filed by Cimarex and Magnum Hunter with the SEC) free of charge at the
SECs website at www.sec.gov. In addition, the documents filed with the SEC
may be obtained free of charge (i) at www.cimarex.com or
www.magnumhunter.com or (ii) by directing a request to Mary Kay Rohrer, Assistant
Corporate Secretary, Cimarex Energy Co., phone: 303-295-3995, fax: 303-295-3494; or Morgan
F. Johnston, Corporate Secretary, Magnum Hunter Resources, Inc., phone: 972-401-0752, fax:
972-443-6487. Investors and security holders are urged to read the joint proxy
statement/prospectus and the other relevant materials when they become available before
making any voting or investment decision with respect to the proposed acquisition.

# Participants in the
Solicitation:

Cimarex, Magnum Hunter and their
respective executive officers and directors may be deemed to be participants in the
solicitation of proxies from the stockholders of Cimarex and Magnum Hunter in favor of the
merger. Information about the executive officers and directors of Cimarex and their
ownership of Cimarex common stock is set forth in the proxy statement for its 2004 Annual
Meeting of Stockholders, which was filed with the SEC in April 2004. Information about the
executive officers and directors of Magnum Hunter and their ownership of Magnum Hunter
common stock is set forth in the proxy statement for their 2004 Annual Meeting of
Stockholders, which was filed with the SEC in August 2004. Investors and security holders
may obtain more detailed information regarding the direct and indirect interests of
Cimarex, Magnum Hunter and their respective executive officers and directors in the merger
by reading the joint proxy statement/prospectus when it becomes available.

# FOR FURTHER INFORMATION
CONTACT

Magnum Hunter Resources,
Inc. contact: Howard Tate, Vice
President of Capital Markets 972-401-0752 www.magnumhunter.com

Cimarex Energy Co.
contact: Paul Korus, Vice
President & CFO 303-295-3995 www.cimarex.com