OKLAHOMA CITY, Oct. 17 /PRNewswire-FirstCall/ -- Gulfport Energy Corporation, (OTC:GPOR) (BULLETIN BOARD: GPOR) updates effect of Hurricane Rita. On September 26, 2005, Hurricane Rita hit the Texas and Louisiana coasts with high winds and a storm surge of various water levels in different coastal areas. The Company had previously reported that the Company had sustained damage to both its Hackberry field located in Cameron Parish, Louisiana and its West Cote Blanche field (WCBB) located in St. Mary Parish, Louisiana. Repair and restoration operations are currently underway to return both fields to full production as soon as possible although an exact date cannot yet be determined. We anticipate that 75% of the Company's production will be back on line in November 2005 with the remaining 25% coming on line in December 2005. Drilling operations in the WCBB field resumed September 29, 2005 and the Company continues with its previously announced drilling program. The Company has an insurance program in place, which it believes will adequately cover damage to its platform and facilities. The Company's fourth quarter 2005 and fiscal 2005 results will be less than originally expected due to the production down time. The Company believes, however, the damage caused by Hurricane Rita will have little impact on its 2006 projections. Gulfport is an independent oil and gas exploration and production company with its principal properties located in the Louisiana Gulf Coast area. The Company seeks to achieve reserve growth and increased cash flow from operations through low risk development activities on its existing properties and other acquisition opportunities. This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of historical facts, included in this news release that address activities, events or developments that Gulfport Energy Corporation, a Delaware corporation, expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of Gulfport's business and operations, plans, references to future success, reference to intentions as to future matters and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by Gulfport in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with Gulfport's expectations and predictions is subject to a number of risks and uncertainties, general economic, market or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Gulfport; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of Gulfport. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by Gulfport will be realized, or even if realized, that they will have the expected consequences to or effects on Gulfport, its business or operations. We have no intention, and disclaim any obligation, to update or revise any forward- looking statements, whether as a result of new information, future results or otherwise. DATASOURCE: Gulfport Energy Corporation CONTACT: Mike Liddell of Gulfport Energy Corporation, +1-405-848-8807, ext. 106 Web site: http://www.gulfportenergy.com/

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