including our Chief Executive Officer and Chief Financial Officer. Based on that evaluation
the Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of December 31
2011 to ensure: that information required to be disclosed in the reports it files and submits under the Exchange Act is recorded
processed
summarized and reported within the time periods specified in the SEC’s rules and forms; and that information that is required to be disclosed under the Exchange Act is accumulated and communicated to the Company’s management
including our Chief Executive Officer and Chief Financial Officer
as appropriate to allow timely decisions regarding required disclosure. Evaluation of Changes in Internal Control over Financial Reporting Under the supervision and with the participation of our management
including our Chief Executive Officer and Chief Financial Officer
we have determined that
during the fourth quarter of fiscal 2011
there were no changes in our internal controls over financial reporting that have materially affected
or are reasonably likely to materially affect
our internal controls over financial reporting. Management’s Annual Report on Internal Controls Over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(t) and 15d-15(f) of the Exchange Act. Under the supervision and with the participation of our management
including our Chief Executive Officer and Chief Financial Officer
we assessed the effectiveness of our internal controls over financial reporting as of the end of the period covered by this report based on the framework in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that assessment
our Chief Executive Officer and Chief Financial Officer concluded that our internal controls over financial reporting were effective as of December 31
2011 to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of our financial statements for external purposes in accordance with U.S. generally accepted accounting principles. The Company acquired Williston Hunter Canada
Inc.
Williston Hunter
Inc.
and Magnum Hunter Production
Inc. during fiscal 2011. As permitted by SEC guidance
management excluded the acquired companies from its assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31
2011. Williston Hunter Canada
Inc.
Williston Hunter Inc.
and Magnum Hunter Production
Inc. are wholly owned subsidiaries whose total assets and net income represent approximately 34% and 35%
respectively
of the
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