EXHIBIT 99.5
GULFPORT ENERGY CORPORATION
SHARES OF COMMON STOCK
OFFERED PURSUANT TO RIGHTS DISTRIBUTED TO RECORD STOCKHOLDERS
OF GULFPORT ENERGY CORPORATION
__________, 2004
To Our Clients:
Enclosed for your consideration are a Prospectus, dated __________, 2004
(the "Prospectus"), and the "Instructions as to Use of Gulfport Energy
Corporation Subscription Rights Certificates" relating to the offering (the
"Rights Offering") by Gulfport Energy Corporation, a Delaware corporation
("Gulfport"), of shares of its common stock, par value $0.01 per share (the
"Common Stock"), pursuant to transferable subscription rights (the "Rights")
distributed to all holders of record of shares of its Common Stock at the close
of business on __________, 2004 (the "Record Date"). The Rights are described in
Gulfport's Prospectus.
In the Rights Offering, Gulfport is offering an aggregate of approximately
10,000,000 shares of its Common Stock, as described in the Prospectus. The
Rights will expire, if not exercised, at 5:00 p.m., Dallas time, on __________,
2004, unless extended in the sole discretion of Gulfport (as it may be extended,
the "Expiration Date"). As described in the accompanying Prospectus, you will
receive one Right for every 1.0146 shares of Common Stock carried by us in your
account as of the Record Date. Each Right will allow you to subscribe for one
share of Common Stock (the "Basic Subscription Privilege") at the cash price of
$_____ per share (the "Subscription Price").
In addition, holders of Rights who exercises their Basic Subscription
Privilege in full will be eligible to subscribe (the "Over-Subscription
Privilege") at the same cash price of $ _____ per share for shares of Common
Stock that are not otherwise purchased pursuant to the exercise of Rights under
the Basic Subscription Privilege (the "Excess Shares"), subject to availability
and pro ration as described below. A holder of Rights may only exercise its
Over-Subscription Privilege if the holder exercised its Basic Subscription
Privilege in full and other holders of subscription Rights do not exercise their
Basic Subscription Privilege in full. If there are not enough Excess Shares to
satisfy all subscriptions made under the Over-Subscription Privilege, Gulfport
will allocate the remaining Excess Shares pro rata, after eliminating all
fractional shares, among those Rights holders who exercised their
Over-Subscription Privileges. "Pro rata" means in proportion to the number of
shares of Common Stock that each holder of Rights has purchased by exercising
its Basic Subscription Privileges. If there is a pro rata allocation of the
remaining Excess Shares and a holder of Rights receives an allocation of a
greater number of Excess Shares than the holder subscribed for under its
Over-Subscription Privilege, then Gulfport will allocate to the holder only the
number of Excess Shares for which the holder subscribed. Gulfport will allocate
the remaining Excess Shares among all other holders exercising their
Over-Subscription Privileges. See "The Rights Offering-Subscription Privileges"
in the Prospectus.
The Rights will be evidenced by transferable Rights certificates and will
be null and void at the close of business on the Expiration Date. The Rights
will be transferable until the close of business on the last trading day
preceding the Expiration Date.
The materials enclosed are being forwarded to you as the beneficial owner
of Common Stock carried by us in your account but not registered in your name.
Exercises and sales of Rights may be made only by us as the record owner and
pursuant to your instructions. Accordingly, we request instructions as to
whether you wish us to elect to subscribe for any shares of Common Stock, or
sell any Rights, to which you are entitled pursuant to the terms and subject to
the conditions set forth in the enclosed Prospectus. However, we urge you to
read the Prospectus and other enclosed materials carefully before instructing us
to exercise or sell your Rights.
Your instructions to us should be forwarded as promptly as possible in
order to permit us to exercise or sell Rights on your behalf in accordance with
the provisions of the Rights Offering. The Rights Offering will expire at 5:00
p.m., Dallas time, on the Expiration Date. Once you have exercised your Basic
Subscription Privilege and your Over-Subscription Privilege, such exercise may
not be revoked.
If you wish to have us, on your behalf, exercise the Rights for any shares
of Common Stock to which you are entitled or sell such Rights, please so
instruct us by completing, executing and returning to us the instruction form on
the reverse side of this letter.
ANY QUESTIONS OR REQUESTS FOR ASSISTANCE CONCERNING THE RIGHTS OFFERING
SHOULD BE DIRECTED TO THE SUBSCRIPTION AGENT, AT THE FOLLOWING TELEPHONE NUMBER:
(816) 860-3020.
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