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 17.9% interest in Tatex Thailand III, LLC, the owner of concession block L16/50. The Tatex III 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: 12/31/2007) credited producing wells in the Phu Horm gas field with approximately 1/2 Tcf of reserves

Gross production from the Phu Horm gas field, of which Gulfport owns 0.7%, averaged 85.91 MMcf per day of natural gas and 392.22 Bbls per day of condensate in the third quarter of 2011

Significant upside provided by the exploratory potential of four concession blocks

APICO has identified several high quality exploration targets

Long-term gas sales contract in place with Thai government which ties pricing to Singapore Medium Sulfur Fuel Oil

Shot the largest onshore 3-D seismic survey in SE Asia over L16/50 during 2009

In March 2011, TEW-E well logged over 5,000 feet of apparent possible gas saturated column

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Gulfport Energy

Thailand Overview

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