NuLoch Resources Inc. Completes Arrangement With Magnum Hunter Resources Corporation

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THE UNITED STATES. 


NuLoch Resources Inc. (TSX VENTURE:NLR) (OTCQX:NULCF) ("NuLoch") is pleased to
announce that it has completed the previously announced arrangement (the
"Arrangement") with Magnum Hunter Resources Corporation ("Magnum Hunter"),
whereby Magnum Hunter indirectly acquired all of the issued and outstanding
Class A shares of NuLoch ("NuLoch Shares"). As a result of the Arrangement,
NuLoch is now an indirect wholly owned subsidiary of Magnum Hunter.


Pursuant to the Arrangement, each NuLoch Share entitled the holder to receive,
at the holder's election, either: (i) 0.3304 of a share of common stock of
Magnum Hunter (a "MHR Share"); (ii) 0.3304 of an exchangeable share (an
"Exchangeable Share") of MHR Exchangeco Corporation ("Exchangeco"), a Canadian
subsidiary of Magnum Hunter; or (iii) a combination thereof. The Exchangeable
Shares: (i) have voting rights, dividend entitlements and other attributes
corresponding to those of the MHR Shares; and (ii) are exchangeable, at each
holder's option, for MHR Shares. The Exchangeable Shares will, upon the
direction of the board of directors of Exchangeco, be exchanged for MHR Shares
one year from the effective date of the Arrangement, subject to applicable law,
unless exchanged earlier upon the occurrence of certain events. The Arrangement
was completed pursuant to a statutory plan of arrangement under section 193 of
to the Business Corporations Act (Alberta) and was approved at a meeting of the
securityholders of NuLoch and by the Court of Queen's Bench of Alberta on April
28, 2011. Complete details regarding the Arrangement are set out in the
management information circular of NuLoch dated March 25, 2011, a copy of which
is available on SEDAR at www.sedar.com.


An application has been made to the TSX Venture Exchange to delist the NuLoch
Shares.