OKLAHOMA CITY, May 10 /PRNewswire-FirstCall/ -- Gulfport Energy Corporation (NASDAQ:GPOR) previously announced the pricing of an underwritten public offering of 6,050,000 shares of its common stock by certain of its stockholders at a price of $14.00 per share. The Company today announced that it completed the sale of 790,000 shares of its common stock pursuant to the exercise of the underwriters' over-allotment option. The net proceeds from the exercise of such option were approximately $10.4 million after deducting the underwriting discount and before offering expenses. The Company intends to use the net proceeds to repay outstanding borrowings under its credit facility with Bank of America. Johnson Rice & Company L.L.C. is lead book-running manager for the offering. Dahlman Rose & Company, First Albany Capital, Pritchard Capital Partners, LLC and Simmons & Company International are serving as co-managers. Copies of the prospectus relating to the offering may be obtained from the offices of Johnson Rice & Company L.L.C., 639 Loyola Avenue, Suite 2775, New Orleans, Louisiana 70113. Gulfport Energy Corporation, headquartered in Oklahoma City, Oklahoma, is an independent oil and natural gas exploration and production company with properties located along the Louisiana Gulf Coast. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. DATASOURCE: Gulfport Energy Corporation CONTACT: James D. Palm, +1-405-242-4404, or Michael G. Moore, +1-405-242-4408, both of Gulfport Energy Corporation Web site: http://www.gulfportenergy.com/

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