Enterprise Value of $371¹ Million

• $313 million equity value, $65 million debt, $7 million working capital

Demonstrated stong financial performance in 2Q'09

• $12.7 million of operating cash flow
• $13.0 million of EBITDA
• $5.1 million of net income available to common share

Continued to improve liquidity position 

• Reduced payables and accrued liabilities in the second quarter by $8.6 million as compared to the second quarter of 2009

Began 2009 drilling program in June on significant drilling and completion cost reductions and improving oil prices

Added new drilling and exploration opportunities to inventory in West Texas and Hackberry

Gulfport has a diverse portfolio of oil-weighted assets

• In Southern Louisiana and the Permian, we are active in two of America's most prolific oil producing basins
• 15-year leases in the Canadian Oil Sands provide us long-term optionality in the largest oil play in the world ouside of Saudi Arabia

Minimal obligations provide financial flexibillity and allow us to be opportunistic in the timing and location of investment

• Able to exploit our large inventory of up-hole recompletions as a source of production
• Leases held by production in Southern Louisiana with only minimal leasehold obligations in the Permian 

Positioned to operate a strong and profitable business, regardless of turmoil in the market

• 1.7 million barrels of production hedged between $54.81 and $58.24 from 2009 through 2010