Gulfport Energy Corporation Prices $50 Million Tack on Offering of Senior Notes

Gulfport Energy Corporation Prices $50 Million Tack on Offering of Senior
Notes

OKLAHOMA CITY, Dec. 18, 2012 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation
(Nasdaq:GPOR) ("Gulfport") today announced that it has priced an offering of
$50 million aggregate principal amount of its 7.750% senior notes due 2020
(the "Notes") at an issue price of 101.000% of the aggregate principal amount
of the Notes. The Notes were sold to qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933, as amended (the "Securities
Act"), and to certain non-U.S. persons in accordance with Regulation S under
the Securities Act. On October 17, 2012, Gulfport completed a private
placement of $250 million aggregate principal amount of its 7.750% senior
notes due 2020. The Notes and the notes originally issued in October 2012 will
be treated as a single class of debt securities under the same indenture. It
is anticipated that the offering of the Notes will close on December 21, 2012.
Gulfport expects to use the net proceeds of the current Notes offering for
general corporate purposes, including the funding of a portion of its 2013
capital development plan.

The Notes will be general unsecured senior obligations of Gulfport, will be
guaranteed on a senior unsecured basis by certain of Gulfport's subsidiaries
and will pay interest semi-annually.

The Notes will not be registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States absent
registration or an applicable exemption from such registration requirements.

This announcement is neither an offer to sell nor a solicitation of an offer
to buy any of these securities and shall not constitute an offer, solicitation
or sale in any jurisdiction in which such offer, solicitation or sale is
unlawful.

About Gulfport

Gulfport Energy Corporation is an Oklahoma City-based independent oil and
natural gas exploration and production company with its principal producing
properties located along the Louisiana Gulf Coast. Gulfport has also acquired
acreage positions in the Utica Shale of Eastern Ohio and the Niobrara
Formation of Western Colorado. In addition, Gulfport holds a sizeable acreage
position in the Alberta Oil Sands in Canada through its interest in Grizzly
Oil Sands ULC and has interests in entities that operate in the Permian Basin
in West Texas and in Southeast Asia, including the Phu Horm gas field in
Thailand.

Forward Looking Statements

Certain statements included in this press release are intended as
"forward-looking statements." These statements include assumptions,
expectations, predictions, intentions or beliefs about future events,
particularly the consummation of the transaction described above. Gulfport
cautions that actual future results may vary materially from those expressed
or implied in any forward-looking statements. Specifically, Gulfport cannot
assure you that the proposed transaction described above will be consummated
on the terms Gulfport currently contemplates, if at all. Information
concerning these and other factors can be found in Gulfport's filings with the
SEC, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of
charge on the SEC's web site at http://www.sec.gov.

Any forward-looking statements made in this press release speak only as of the
date of this release and, except as required by law, Gulfport undertakes no
obligation to update any forward-looking statement contained in this press
release, even if Gulfport's expectations or any related events, conditions or
circumstances change. Gulfport is not responsible for any changes made to this
release by wire or Internet services.

CONTACT: Investor & Media Contact:
         Paul K. Heerwagen IV
         Investor Relations
         pheerwagen@gulfportenergy.com
         405-242-4888

Gulfport Energy