Mr. Evans: Magnum Hunter Resources is an American Stock Exchange listed company that is based in Irving, Texas. We are involved in primarily three sectors of the energy industry, oil and gas production, gas gathering, processing and marketing, and the management of oil and gas properties for others. The company has approximately $300 million in total assets and has proved reserves of closed to 400 BCF equivalent. I started the predecessor companies of Magnum Hunter back in 1985 by acquiring properties out of foreclosure. Since then, we have completed two reverse mergers of other companies, which is how we went public, as well as completed over 40 other separate property acquisitions. The company is active in the acquisition arena as well as the drilling of both development and exploration wells. Magnum Hunter drilled 93 wells in 1998 with a 97% success rate. The company is considered one of the fastest growing oil and gas companies in the energy industry and has approximately 75 employees. We own an interest in about 3,000 wells and operate two-thirds of those or about 2,000 wells.
TWST: Is your drilling operation, is it strictly domestic?
Mr. Evans: Yes, Magnum Hunter's properties are principally in the Mid-
continent U.S. and shallow offshore waters of the Gulf of Mexico.
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