Goodrich Petroleum Launches Public Offering

Goodrich Petroleum Corporation (NYSE: GDP) is launching a public offering for 3,000,000 shares of its common stock. Net proceeds would be used primarily to fund an accelerated Cotton Valley Trend drilling program in East Texas and northwest Louisiana. Of the 3,000,000 shares offered, 2,800,000 shares are being offered by the Company and 200,000 shares are being offered by a selling stockholder.

The offering will be made under the Company's existing shelf registration statement. The Company intends to grant the underwriters a 30-day option to purchase a maximum of 450,000 additional shares of common stock from the Company to cover over-allotments.

Bear, Stearns & Co. Inc. will be the sole book-running managing underwriter, and Johnson Rice & Company L.L.C. and Simmons & Company International will be co-managing underwriters for the offering. Copies of the preliminary prospectus supplement and accompanying base prospectus may be obtained from the Equity Syndicate Department of Bear, Stearns & Co. Inc. by faxing a written request to (631) 254-7129.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.