Blue Ridge Mountain Resources Inc (fka BRMR)

[mick]

Magnum Hunter Resources Corporation Emerges from Chapter 11
Less than Five Months After Voluntarily Filing for Bankruptcy Protection

http://www.magnumhunterresources.com/PressRelease.html

Irving, TX – (Marketwired) May 9, 2016 /PRNewswire/ --
Magnum Hunter Resources Corporation (OTC PINK: MHRC) and certain of
its wholly-owned subsidiaries (collectively, the "Company" or "Magnum Hunter") announced today that its chapter 11 plan of reorganization,


which was confirmed by the United States Bankruptcy Court for the District of Delaware on April 18, 2016, has gone effective.

As planned, Magnum Hunter successfully emerged from chapter 11
less than five months after voluntarily filing for bankruptcy
protection to consummate its prenegotiated plan of reorganization.

The Company completed a very effective balance-sheet restructuring
that de-leveraged substantially all of Magnum Hunter’s $1 billion of pre-bankruptcy funded indebtedness and converted 100% of its
post-filing debtor-in-possession (“DIP”) financing into equity
pursuant to a consensual debt-to-equity exchange.

Previously burdened by cumbersome long-term obligations and
declining commodity prices,
today Magnum Hunter emerges from bankruptcy with a significantly stronger balance sheet and the ability to focus on creating value
and achieving its long-term growth objectives. Most importantly,
the Company achieved a successful and expeditious restructuring
with minimal disruption to its employees, vendors, and operations.

Additionally, after successfully reaching a resolution of all claims
and controversies with Eureka Midstream Holdings,
LLC and certain of its affiliates,
the Company and Eureka will move forward with a stronger relationship post-emergence.

Currently the new Board of Directors is actively engaged in a search
for a permanent Chief Executive Officer.

In the interim, Joseph C. Daches, current Chief Financial Officer,
and Rick S. Farrell, current SVP Business Development / Land, will
serve as co-Chief Executive Officers.

“Magnum Hunter has worked successfully to fulfill the
prenegotiated restructuring support agreement milestones with
the objective of achieving the best possible solution for all of
our stakeholders.

Without the cooperation of our dedicated employees and the strength
of our relationships with royalty owners, vendors,
suppliers and capital providers,

this would not have been possible.

Under the direction of our new Board of Directors,
we look forward to growing our Company strategically and profitably,” said Daches and Farrell.

Court filings and other information related to the restructuring proceedings are available at a website administered by the
Company's claims agent, Prime Clerk, at

https://cases.primeclerk.com/magnumhunter, or via telephone at
844-276-3026 (toll free) or 917-962-8497 (international).

About Magnum Hunter Resources Corporation

Magnum Hunter Resources Corporation is an independent energy company engaged in the acquisition, production, exploration, and development
of onshore natural gas and oil properties in the United States.

The Company’s current operations are principally located in the Marcellus Shale and Utica Shale regions of the Appalachian Basin, located in in Ohio and West Virginia.

The Company also has interests in acreage and production in Kentucky
and has primarily non-operating leasehold working interests in the Williston/Bakken Shale region of North Dakota.

For more information about Magnum Hunter, please visit HTTP://www.mhr.energy.

Forward-Looking Statements

This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although Magnum Hunter believes that the expectations reflected in the forward-looking statements are reasonable, Magnum Hunter can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings made by Magnum Hunter with the Securities and Exchange Commission (SEC). Among the factors that could cause results to differ materially are those risks discussed in the periodic reports filed by Magnum Hunter with the SEC, including Magnum Hunter’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, and its Quarterly Reports on Form 10-Q for the fiscal quarters ended after such fiscal year. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” Forward-looking statements speak only as of the date of the document in which they are contained, and Magnum Hunter does not undertake any duty to update any forward-looking statements except as may be required by law.





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