13D Filing: Firefly Value Partners and Gulfport Energy Corp (NASDAQ:GPOR)

Item 5.

Interest in Securities of the Issuer.

The aggregate percentage
of Shares reported owned by each person named herein is based upon 173,302,055 Shares outstanding, as of October 29, 2018, which
is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission on November 1, 2018.

A.

FVP Master Fund

(a)

As of the close of business on December 7, 2018, FVP Master Fund beneficially owned 13,350,000 Shares, including 4,350,000 shares underlying certain call options.

Percentage: Approximately 7.7%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 13,350,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 13,350,000

(c)

The transactions in the securities of the Issuer by FVP Master Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

B.

Firefly Value Partners

(a)

Firefly Value Partners, as the investment manager of FVP Master Fund, may be deemed the beneficial owner of the 13,350,000 Shares owned by FVP Master Fund, including 4,350,000 shares underlying certain call options.

Percentage: Approximately 7.7%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 13,350,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 13,350,000

(c)

Firefly Value Partners has not entered into any transactions in the securities of the Issuer during the past 60 days. The transactions in the securities of the Issuer on behalf of FVP Master Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

C.

FVP GP

(a)

FVP GP, as the general partner of FVP Master Fund, may be deemed the beneficial owner of the 13,350,000 Shares owned by FVP Master Fund, including 4,350,000 shares underlying certain call options.

Percentage: Approximately 7.7%