Thailand Overview

International Exploration. In 2005, Gulfport acquired a 2% indirect interest in APICO, LLC, an international oil and gas exploration company. APICO owns a 35% interest the Phu Horm gas field operated by Hess Corporation, a 100% of concession blocks L15/43 and 27/43, and a 60% of concession block L13/48. The APICO holdings total approximately 3 million acres. During the first quarter of 2008, Gulfport purchased a 5% interest in Tatex Thailand III, LLC, the owner of concession block L16/50. The Tatex block consists of 1 million acres adjacent to Block L27/43.

	World Class Reserves. Through an indirect equity investment in APICO, Gulfport has leveraged significant exposure to a natural gas play of immense magnitude in northeast Thailand. Exploration efforts at Phu Horm have been affirmed by impressive reserves being assigned to the field. Third party engineers Gaffney Cline (report date: 1/1/2005) credited producing wells in the Phu Horm gas field with approximately 1/2 Tcf of reserves 3P Reserves of 9 Tcf provide substantial exploratory upside Production net to Gulfport at year-end 2007 totaled approximately 100 Mcf per day Cash flow from the project is expected to offset capital outlays Significant upside provided by the exploratory potential of four consession blocks totaling approximately 4 million gross acres AIPCO has identified several high quality exploration targets Plans are in place to shoot a 3-D seismic survey of Block L16/50 in the fourth quarter of 2008

World Class Reserves. Through an indirect equity investment in APICO, Gulfport has leveraged significant exposure to a natural gas play of immense magnitude in northeast Thailand. Exploration efforts at Phu Horm have been affirmed by impressive reserves being assigned to the field.

Third party engineers Gaffney Cline (report date: 1/1/2005) credited producing wells in the Phu Horm gas field with approximately 1/2 Tcf of reserves

3P Reserves of 9 Tcf provide substantial exploratory upside

Production net to Gulfport at year-end 2007 totaled approximately 100 Mcf per day

Cash flow from the project is expected to offset capital outlays

Significant upside provided by the exploratory potential of four consession blocks totaling approximately 4 million gross acres

AIPCO has identified several high quality exploration targets

Plans are in place to shoot a 3-D seismic survey of Block L16/50 in the fourth quarter of 2008

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Gulfport Energy

Thailand Overview

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