Magnum Hunter Resources Corp. announced today a three-year, senior secured, revolving credit facility with the Bank of Montreal (BMO). This new $150 million bank facility will be regulated via a semi-annual redetermination of its borrowing base, whose value will be allocated to MHR’s proved crude oil and natural gas reserves.

MHR, and its subsidiaries, is an independent oil and natural gas exploration and production company based in Houston, Texas. Focused on leveraging the expertise of its management team to create maximal value for its shareholders, MHR enjoys an annual ROI of approximately 37%. The price of shares jumped 11% in early trading this morning on news of the commitment of the new bank facility.

With an initial sum of $25M in borrowing based on the market value of its crude oil and natural gas assets, which may be realized through acquisition or discovery as time progresses, a commitment ceiling of