Goodrich Petroleum Corporation Announces Put Option Notification For 5.00% Convertible Senior Notes Due 2029

  Goodrich Petroleum Corporation Announces Put Option Notification For 5.00%
                      Convertible Senior Notes Due 2029

PR Newswire

HOUSTON, Sept. 2, 2014

HOUSTON, Sept. 2, 2014 /PRNewswire/ --Goodrich Petroleum Corporation
("Goodrich") (NYSE: GDP) today announced that it is notifying holders of the
$51,816,000 outstanding principal amount of its 5.00% Convertible Senior Notes
due 2029 (the "Notes") that they have an option, pursuant to the terms of the
Notes, to require Goodrich to purchase on October 1, 2014 all or a portion of
such holders' Notes (the "Put Option") at a price equal to par, plus any
accrued and unpaid interest to, but not including, October 1, 2014. As
October 1, 2014 is an interest payment date for the Notes, interest accrued up
to the purchase date will be paid to record holders as of the regular record
date immediately preceding this interest payment date, and therefore Goodrich
expects that there will be no accrued and unpaid interest due as part of the
purchase price. As required by rules of the Securities and Exchange
Commission, Goodrich will file a Tender Offer Statement on Schedule TO later
today. In addition, Goodrich's notice to holders (a copy of which will be
attached as an exhibit to such Schedule TO) with respect to the Put Option
specifying the terms, conditions and procedures for exercising the Put Option
will be available through The Depository Trust Company and the paying agent,
which is Wells Fargo Bank, N.A. None of Goodrich, its board of directors, or
its employees has made or is making any representation or recommendation to
any holder as to whether to exercise or refrain from exercising the Put
Option.

Note holders' opportunity to exercise the Put Option will commence on
September 2, 2014, and will terminate at 5:00 PM ET on September 30, 2014.
Holders may withdraw any previously delivered purchase notice pursuant to the
terms of the Put Option at any time prior to 5:00 PM ET on September 30, 2014.

The address of Wells Fargo Bank, N.A. is:

Registered & Certified Regular Mail or Courier: In Person by Hand Only:
Mail:
Wells Fargo Bank, N.A. Wells Fargo Bank, N.A.   Wells Fargo Bank, N.A.
Corporate Trust        Corporate Trust          Corporate Trust Operations
Operations             Operations
MAC N9303-121          MAC N9303-121            Northstar East Building -
                                                12^th Floor
P.O. Box 1517          6^th St. & Marquette     608 Second Avenue South
                       Avenue
Minneapolis, MN 55480 Minneapolis, MN 55479   Minneapolis, MN 55402

The Company holds $51.8 million in escrow for the repurchase of the remaining
outstanding principal amount on its 5.00% Convertible Senior Notes due 2029.

This press release is for informational purposes only and is not an offer to
purchase, or the solicitation of an offer to purchase, the Notes.

Goodrich Petroleum Corporation is an independent oil and gas exploration and
production company whose common stock is listed on the New York Stock Exchange
under the symbol GDP.

SOURCE Goodrich Petroleum Corporation

Website: http://www.goodrichpetroleum.com/
Contact: Robert C. Turnham, President, Jan L. Schott, Chief Financial Officer,
Daniel E. Jenkins, Director of Investor Relations, Main: (713) 780-9494, Fax:
(713) 780-9254
 
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