格尔夫波特 Energy Corporation Announces Pricing of Secondary Public Offering of Common Stock

俄克拉荷马城, 7月20日, 2007 (PRIME NEWSWIRE) -- 格尔夫波特 Energy Corporation (Nasdaq:GPOR) today announced that it has priced a public offering of 1,000,000 shares of its common stock at $22.00 per share to the public. A stockholder has granted the underwriter a 30-day option to purchase up to an additional 150,000 shares of 格尔夫波特's common stock at the public offering price less the underwriting discount. 格尔夫波特 will not receive any proceeds from the sale of shares by the selling stockholder. 约翰逊大米 & L公司.L.C. acted as the sole underwriter for the offering.

格尔夫波特 intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving credit facility with Bank of America, N.A. 格尔夫波特 intends to continue to borrow under this credit facility to fund its recently expanded 2007 drilling program and for general corporate purposes.

The offering is expected to close on July 25, 2007, subject to customary closing conditions. The common stock will be issued pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.

A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission and be available on the SEC's website, www.证券交易委员会.政府. Copies of the prospectus supplement and the related base prospectus relating to the offering may be obtained from 约翰逊大米 & L公司.L.C., 639 Loyola Avenue, Suite 2775, New Orleans, Louisiana 70113.

This press release does not constitute an offer to sell or a solicitation of an offer to buy shares of 格尔夫波特's common stock, nor shall there be any sale of these 证券交易委员会urities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the 证券交易委员会urities laws of any such jurisdiction. The offering of these 证券交易委员会urities may be made only by means of the prospectus supplement and the related base prospectus.

关于 格尔夫波特

格尔夫波特 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. 格尔夫波特, through a joint venture, acquired an acreage position in the Alberta oil sands in Canada and drilled core samples this winter. In addition, 格尔夫波特 has an indirect interest in the producing Phu Horm gas filed in Thailand.

Forward-Looking Statements

Certain statements included in this press release are intended as "forward-looking statements." These statements include assumptions, 预期, 预测, intentions or beliefs about future events, particularly the consummation of the transactions described above. 格尔夫波特 cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. 具体地说, 格尔夫波特 cannot assure you that the proposed transactions described above will be consummated on the terms 格尔夫波特 currently contemplates, 如果有的话. More information about the risks and uncertainties relating to these forward-looking statements are found in 格尔夫波特's SEC filings, including its most recent Annual Report on Form 10-KSB and its Quarterly Reports on Form 10-Q for the periods ended subsequent to the filing of its Annual Report on Form 10-KSB, all of which are available free of charge on the SEC's web site at http://www.sec.gov.

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

CONTACT:  格尔夫波特 Energy Corporation
          投资者 & Media 联系:
          John Kilgallon, Director, 投资者 Relations
          405-242-4474
          jkilgallon@abracada8.com

Released 7月20日, 2007