NuLoch Resources Updates Status of Magnum Hunter Transaction

CALGARY, ALBERTA--(Marketwire - April 29, 2011) - NuLoch Resources Inc. (TSX VENTURE:NLR) (OTCQX:NULCF) advises that the stockholders of Magnum Hunter Resources Corporation today approved the issuance of shares of Magnum Hunter common stock in connection with the pending acquisition by Magnum Hunter of NuLoch in an all-stock transaction structured as a statutory arrangement under Alberta law, where NuLoch is organized. Additionally, on April 28, 2011, the NuLoch shareholders approved the acquisition of NuLoch by Magnum Hunter, and the Court of Queen's Bench of Alberta issued a final order approving the statutory arrangement. The transaction, which is subject to additional closing conditions, is expected to close next week. Upon closing of the transaction, Magnum Hunter will indirectly acquire 100% of the outstanding equity of NuLoch, and NuLoch will become an indirect wholly-owned subsidiary of Magnum Hunter.

Forward-Looking Statements

Certain statements in this document or incorporated herein by reference constitute "forward-looking statements" that can generally be identified as such because of the context of the statements, including words indicating that the Company "believes", "anticipates", "expects", "plans" or words of a similar nature. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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