Gulfport Announces Expiration of Its Rights Offering
August 23 2004 - 7:22PM
PR Newswire (US)
Gulfport Announces Expiration of Its Rights Offering OKLAHOMA CITY,
Aug. 23 /PRNewswire-FirstCall/ -- Gulfport Energy Corporation
(OTC:GPOR) (BULLETIN BOARD: GPOR) , a Delaware corporation
("Gulfport"), announced today that its rights offering for $12.0
million was fully subscribed. Ten million rights were offered at
$1.20 per share. The rights offering commenced on July 23, 2004 and
expired 5:00 pm, Dallas time, on August 20, 2004. Gulfport's Chief
Executive Officer, Mike Liddell, stated, "We are pleased with the
wide-based support we received from our investors. The proceeds of
this offering will allow us to continue executing our business plan
by drilling additional wells at West Cote Blanche Bay and shooting
3-D seismic at East Hackberry." 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 ext. 104
Web site: http://www.gulfportenergy.com/
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