Exhibit 99.1

LOGO

February 9, 2010

Mr. Mike Moore

Gulfport Energy Corporation

14313 North May Avenue, Suite 100

Oklahoma City, Oklahoma 73134

Dear Mr. Moore:

In accordance with your request, we have estimated the proved reserves and future revenue, as of December 31, 2009, 向Gulfport能源公司(Gulfport)收购位于West Cote Blanche的某些石油和天然气资产 Bay Field, St. Mary Parish, Louisiana. 我们的理解新葡京是,本报告估计的探明储量约占27.5 percent of all proved reserves owned by Gulfport. The estimates in this report have been prepared in accordance with the definitions and guidelines of the U.S. Securities and Exchange Commission (SEC) and, 除了不包括管理费用和未来的所得税, conform to the FASB Accounting Standards Codification Topic 932, Extractive Activities—Oil and Gas. Definitions are presented immediately following this letter. This report has been prepared for Gulfport’s use in filing with the SEC.

我们估计这些物业的净储量和未来净收入将来自于Gulfport的权益, as of December 31, 2009, to be:

 

     Net Reserves    Future Net Revenue ($)

Category

   Oil
(Barrels)
   Gas
(MCF)
   Total    Present Worth
at 10%

Proved Developed Producing

   967,646    540,464    27,469,900    27,025,900

Proved Developed Non-Producing

   2,283,124    606,665    39,466,400    30,299,700

Proved Undeveloped

   1,776,882    426,165    62,443,800    49,206,300
                   

Total Proved

   5,027,652    1,573,294    129,380,100    106,531,900

The oil reserves shown include crude oil and condensate. 油的体积以桶表示,桶等于42美制加仑. 在标准温度和压力下,天然气体积以千立方英尺(MCF)表示.

The estimates shown in this report are for proved reserves. 按照要求,这些财产的可能储量没有包括在内. No study 新葡京是为了确定新葡京是否可以为这些财产建立可能的储备. 本报告不包括任何可归因于在未开发储量以外的未开发面积的利益的价值 been estimated. Reserves categorization conveys the relative degree of certainty; reserves subcategorization is based on development and production status. 本报告所列的储量和未来收入估计数未作风险调整.

格尔夫波特权益的未来总收入新葡京是在扣除州生产税之前. Future net revenue is after deductions for these taxes, future capital costs, operating expenses, and abandonment costs but before consideration of federal income taxes. 未来的净收入以10%的年折现率来确定其现值. The present worth is 显示时间对金钱价值的影响,不应被解释为物业的公平赌球app下载价值.

For the purposes of this report, we did not perform any field inspection of the properties, 我们也没有检查井和设施的机械操作或状况. We have not investigated possible environmental


liability related to the properties; therefore, our estimates do not include any costs due to such possible liability. Our estimates of future revenue do not include any salvage value for the 但也包括Gulfport对放弃油井和生产设施的成本的估计.

Prices used in 本报告新葡京是根据2009年1月至12月的12个月首日价格的未加权算术平均值编制的. 对于石油产量,壳牌贸易(美国)公司西德克萨斯/新墨西哥中质原油的平均产量 price of $57.每桶90美元新葡京是根据质量、运输费用和地区价格差异进行调整的. For gas volumes, the average Henry Hub spot price of $3.866 / MMBTU根据能源含量、运输费和地区价格进行调整 price differential. As requested, 经济预测包括在已探明的已开发生产类别中,以说明从目前存在的某些油价对冲合同中获得的增量收入. All prices are held constant throughout the lives of the properties.

本报告中使用的租赁成本和油井运营成本新葡京是根据运营费用记录计算的 Gulfport, the operator of the properties. 根据要求,租赁和油井运营成本仅限于直接租赁和现场成本. 总部一般和行政管理费用不包括在内. Lease and well 在物业的整个生命周期内,运营成本保持不变. Capital costs are included as required for workovers, new development wells, and production equipment. The future capital costs are held constant to the date of expenditure.

我们没有对由于向Gulfport输送过多或不足而导致的潜在天然气体积和价值失衡进行调查 interest. Therefore, our estimates of reserves and future revenue do not include adjustments for the settlement of any such imbalances; our projections are based on Gulfport receiving its net revenue interest share of estimated future gross gas production.

本报告所列储量仅为估计数,不应视为确切数量. Proved reserves are those quantities of oil and gas which, by analysis of engineering and geoscience data, 能合理确定地估计在经济上可生产吗. 如果储量得到回收,那么由此产生的收入和与之有关的费用就可以 more or less than the estimated amounts. Because of governmental policies and uncertainties of supply and demand, the sales rates, prices received for the reserves, 而且,开采这些储量所产生的成本可能会随着时间的推移而有所不同 preparing this report. 储量估计可能会因未来的作业而增加或减少, market conditions, or changes in regulations.

For the purposes of this report, we used technical and economic data including, but not limited to, well logs, geologic maps, well test data, production data, historical price and cost information, and property ownership interests. The reserves in this report have been estimated using deterministic methods; these estimates have been prepared in accordance with generally accepted petroleum engineering and evaluation principles. We used standard engineering and geoscience methods, or a combination of methods, such as performance analysis, volumetric analysis, and analogy, 我们认为建立符合SEC定义的储备数量和储备分类新葡京是适当和必要的 guidelines. A substantial portion of these reserves are for behind-pipe zones, non-producing zones, and undeveloped locations. Therefore, 这些储量新葡京是基于对储层体积和采收率的估计以及类比 properties with similar geologic and reservoir characteristics. In evaluating the information at our disposal concerning this report, 我们已经排除了我们考虑的所有事项,因为控制解释可能新葡京是合法的或 accounting, rather than engineering and geoscience. As in all aspects of oil and gas evaluation, there are uncertainties inherent in the interpretation of engineering and geoscience data; therefore, our conclusions necessarily represent only informed professional judgment.

荷兰还没有审查过房产的所有权,休厄尔 & Associates, Inc. (NSAI), 其实际持有的股权程度或类型也未得到独立证实. The data used in our estimates were obtained from Gulfport, public data sources, and the nonconfidential files of NSAI and were accepted as accurate. Supporting geoscience, field performance, and work data are on file in our office. The technical persons


负责编制本报告所列储量估计,符合资格要求, independence, objectivity, and confidentiality set forth in the Standards 石油工程师学会颁布的《新葡京》. We are independent petroleum engineers, geologists, geophysicists, and petrophysicists; we do not own an interest in these properties and are not employed on a contingent basis.

 

   

Sincerely,

   

NETHERLAND, SEWELL & ASSOCIATES, INC.

Texas Registered Engineering Firm F-002699

     

By:

 

/s/ C.H. (Scott) Rees III

       

C.H. (Scott) Rees III, P.E.

Chairman and Chief Executive Officer

By:

 

/s/ Derek F. Newton

   

By:

 

/s/ Mike K. Norton

 

Derek F. Newton, P.E. 97689

Vice President

     

Mike K. Norton, P.G. 441

Senior Vice President

Date Signed: February 9, 2010

   

Date Signed: February 9, 2010