Gulfport Energy Assesses Effect of Hurricane Rita

Gulfport Energy, in preparation for Hurricane Rita, shut down operations in both its Hackberry field located in Cameron Parish, Louisiana and its West Cote Blanche field (WCBB) located in St. Mary Parish, Louisiana. Other precautions included moving its oil storage and drilling barges and evacuating its field personnel. Preliminary indications are that damage was sustained in both fields although it appears from an initial flyover that the main WCBB facilities are intact. The Company is sending field personnel back into the WCBB field today to perform a more detailed assessment of the storm's damage. The Company intends to restore production as soon as possible although an anticipated date cannot be determined until this assessment is complete. Drilling operations in the WCBB field are expected to resume on Tuesday of this week as the Company continues with its previously announced drilling program. The Company currently has an insurance program in place which it believes adequately covers its platform and facilities.