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Magnum Hunter Acquires NGAS For $98MM

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December 27, 2010

Houston-based Magnum Hunter Resources Corp. (Amex: MHR) plans to acquire Appalachian Basin-focused NGAS Resources Inc., Lexington, Ky., (Nasdaq: NGAS) for approximately $98 million in common stock and assumed liabilities.

NGAS has core assets of more than 360,000 acres (68% undeveloped), primarily in the southern Appalachian Basin, with interests in approximately 1,400 wells, an extensive inventory of ...

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