Gulfport Energy Prices Public Common Stock Offering

Gulfport Energy Corporation on Wednesday said that it has priced a public offering of 1,150,000 shares of its common stock at $11.92 per share to the public. Gulfport has also granted the underwriter a 30-day option to purchase up to an additional 172,500 shares of its common stock at the public offering price less the underwriting discount. Johnson Rice & Company L.L.C. acted as the sole underwriter for the offering.

Gulfport intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving credit facility with Bank of America, N.A.

The offering is expected to close on February 5, 2007, subject to customary closing conditions. The common stock will be issued pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.

A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission and be available on the SEC's website, Copies of the prospectus supplement and the related base prospectus relating to the offering may be obtained from Johnson Rice & Company L.L.C., 639 Loyola Avenue, Suite 2775, New Orleans, Louisiana 70113.

Gulfport is an independent oil and gas exploration and production company with its principal producing properties located along the Louisiana Gulf Coast.