Gulfport Announces Extension of Rights Offering
August 16 2004 - 7:24PM
PR Newswire (US)
Gulfport Announces Extension of Rights Offering OKLAHOMA CITY, Aug.
16 /PRNewswire-FirstCall/ -- Gulfport Energy Corporation (OTC:GPOR)
(BULLETIN BOARD: GPOR) , a Delaware corporation ("Gulfport"),
announced today that it has extended the expiration date of its
rights offering. On July 23, 2004, Gulfport commenced a rights
offering pursuant to which it distributed to the holders of its
common stock transferable rights to subscribe for and purchase an
aggregate of 10,000,000 shares of its common stock. Holders of
common stock of record as of the close of business on July 16, 2004
are entitled to receive one transferable subscription right for
each 1.0146 shares of common stock owned as of the record date.
Each right entitles the holder to purchase one share of common
stock at a subscription price of $1.20. The rights offering was
originally scheduled to expire at 5:00 p.m., Dallas time, on August
17, 2004. As extended, the rights offering will expire at 5:00
p.m., Dallas time, on August 20, 2004, unless Gulfport further
extends the rights offering. Gulfport expressly reserves the right
to further extend the rights offering on a daily or other basis as
it may determine in its sole discretion. Gulfport does not
currently intend to further extend the rights offering. Questions
concerning the delivery of appropriate documents, as well as
requests for additional sets of rights offering materials, should
be directed to Todd Burrus at (816) 860-3020 at UMB Bank, N.A.,
Gulfport's subscription agent. This press release does 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
the registration or qualification under the securities laws of any
such state. This press 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 press release that address activities, events or
developments that Gulfport expects or anticipates will or may occur
in the future, including such things as estimated future net
revenues from oil and gas reserves and the present value thereof,
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, including those discussed in the "Risk
Factors" section in our Annual Report on Form 10-Ksb for the year
ended December 31, 2003, and 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
press 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: Lisa
Holbrook of Gulfport Energy Corporation, +1-405-848-8807 Web site:
http://www.gulfportenergy.com/
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