ÄϹ¬ÓéÀÖ¹ÙÍø Energy Corporation Launches Common Stock Offering

ÄϹ¬ÓéÀÖ¹ÙÍø

OKLAHOMA CITY, Feb. 11, 2013 (GLOBE NEWSWIRE) -- ÄϹ¬ÓéÀÖ¹ÙÍø Energy Corporation (Nasdaq:GPOR) today announced the commencement of an underwritten public offering of 7,750,000 shares of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 1,162,500 shares from ÄϹ¬ÓéÀÖ¹ÙÍø solely to cover over-allotments. ÄϹ¬ÓéÀÖ¹ÙÍø intends to use the net proceeds from this offering to fund its previously announced pending acquisition of oil and gas assets in the Utica Shale in Ohio and for general corporate purposes, which may include expenditures associated with ÄϹ¬ÓéÀÖ¹ÙÍø's 2013 drilling programs.

Credit Suisse Securities (USA) LLC is acting as sole book-running manager in the offering. Copies of the preliminary prospectus supplement for the offering may be obtained on the website of the Securities and Exchange Commission, , or by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, at One Madison Avenue, New York, New York 10010, or by telephone at (800) 221-1037.

The common stock will be issued and sold pursuant to an effective automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.

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 along the Louisiana Gulf Coast. ÄϹ¬ÓéÀÖ¹ÙÍø has also acquired acreage positions in the Utica Shale of Eastern Ohio and the Niobrara Formation of Western Colorado. In addition, ÄϹ¬ÓéÀÖ¹ÙÍø holds a sizeable acreage position in the Alberta Oil Sands in Canada through its interest in Grizzly Oil Sands ULC and has interests in entities that operate in the Permian Basin in West Texas and in Southeast Asia, including the Phu Horm gas field in Thailand.

Forward Looking Statements

Certain statements included in this press release are intended as "forward-looking statements." These statements include assumptions, expectations, predictions, intentions or beliefs about future events, particularly the consummation of the transactions described above. ÄϹ¬ÓéÀÖ¹ÙÍø cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. Specifically, ÄϹ¬ÓéÀÖ¹ÙÍø cannot assure you that the proposed transactions described above will be consummated on the terms ÄϹ¬ÓéÀÖ¹ÙÍø currently contemplates, if at all. Information concerning these and other factors can be found in ÄϹ¬ÓéÀÖ¹ÙÍø's filings with the SEC, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the SEC's web site at .

Any forward-looking statements made in this press release speak only as of the date of this release and, except as required by law, ÄϹ¬ÓéÀÖ¹ÙÍø undertakes no obligation to update any forward-looking statement contained in this press release, even if ÄϹ¬ÓéÀÖ¹ÙÍø's expectations or any related events, conditions or circumstances change. ÄϹ¬ÓéÀÖ¹ÙÍø is not responsible for any changes made to this release by wire or Internet services.

CONTACT: Investor & Media Contact:
         Paul K. Heerwagen IV
         Director, Investor Relations
         405-242-4888

Released February 11, 2013