ÄϹ¬ÓéÀÖ¹ÙÍø Energy Corporation Announces 2013 Exit Rate and Provides Update on Production

ÄϹ¬ÓéÀÖ¹ÙÍø

OKLAHOMA CITY, Jan. 6, 2014 (GLOBE NEWSWIRE) -- ÄϹ¬ÓéÀÖ¹ÙÍø Energy Corporation (Nasdaq:GPOR) ("ÄϹ¬ÓéÀÖ¹ÙÍø") today announced that it achieved record daily production of approximately 27,780 barrels of oil equivalent per day ("BOEPD") on December 31, 2013.

James Palm, ÄϹ¬ÓéÀÖ¹ÙÍø's Chief Executive Officer, commented, "We entered 2013 producing approximately 6,300 BOEPD and exited the year producing 27,780 BOEPD, which was over 340% in growth during this period. This is a significant milestone for ÄϹ¬ÓéÀÖ¹ÙÍø employees and shareholders. We are diligently working to execute on our 2014 program and look forward to substantial growth as a company during 2014 as we continue to develop our Utica Shale assets."

Production Guidance

ÄϹ¬ÓéÀÖ¹ÙÍø currently estimates that fourth quarter 2013 production was approximately 1.5 million barrels of oil equivalent. Production during the first quarter of 2014 is currently expected to be relatively flat compared to the Company's 2013 exit rate due to scheduled downtime on existing producing wells resulting from completion operations conducted on offset wells on the same pad.

About ÄϹ¬ÓéÀÖ¹ÙÍø

ÄϹ¬ÓéÀÖ¹ÙÍø Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast. In addition, ÄϹ¬ÓéÀÖ¹ÙÍø holds a sizeable acreage position in the Alberta Oil Sands in Canada through its 24.9% interest in Grizzly Oil Sands ULC, an equity interest in Diamondback Energy Inc., a NASDAQ Global Select Market listed company, and has an interest in an entity that operates in Southeast Asia, including the Phu Horm gas field in Thailand.

Forward Looking Statements

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 ÄϹ¬ÓéÀÖ¹ÙÍø expects or anticipates will or may occur in the future, future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of ÄϹ¬ÓéÀÖ¹ÙÍø's business and operations, plans, market conditions, 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 ÄϹ¬ÓéÀÖ¹ÙÍø 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 ÄϹ¬ÓéÀÖ¹ÙÍø's expectations and predictions is subject to a number of risks and uncertainties, general economic, market, credit or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by ÄϹ¬ÓéÀÖ¹ÙÍø; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of ÄϹ¬ÓéÀÖ¹ÙÍø. Information concerning these and other factors can be found in the Company's filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by ÄϹ¬ÓéÀÖ¹ÙÍø will be realized, or even if realized, that they will have the expected consequences to or effects on ÄϹ¬ÓéÀÖ¹ÙÍø, its business or operations. ÄϹ¬ÓéÀÖ¹ÙÍø has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

CONTACT: Investor Contacts:
         Paul K. Heerwagen IV
         Director, Investor Relations
         pheerwagen@gulfportenergy.com
         405-242-4888

         Jessica R. Wills
         Associate Director, Investor Relations
         jwills@gulfportenergy.com
         405-242-4421

Released January 6, 2014