NGAS Resources (NGAS)

[mick]

i was wondering what happen to this one; LEXINGTON, Ky., Apr 11, 2011 (GlobeNewswire via COMTEX) -- NGAS Resources, Inc. (NGAS, Trade ), an independent exploration and production company focused on unconventional natural gas plays in the southern Appalachian Basin, announced that on April 8, 2011 its shareholders approved the acquisition of NGAS by Magnum Hunter Resources Corporation ("Magnum Hunter") in an all-stock transaction structured as a statutory arrangement under British Columbia law, where NGAS is organized.

Under the arrangement agreement for the transaction, each outstanding common share of NGAS will be transferred to Magnum Hunter for the right to receive 0.0846 shares of Magnum Hunter common stock. The exchange ratio for the transaction is not subject to any adjustments and will result in the issuance of approximately 6.6 million shares of Magnum Hunter common stock to NGAS shareholders.