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

Each Reporting Person,
as a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange
Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting
Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

FVP Master Fund has
purchased in the over-the-counter market American-style call options referencing an aggregate of 4,350,000 Shares, which have exercise
prices ranging from $7.50 to $12.50 per share and expire on June 21, 2019, as further detailed on Schedule A hereto, which is incorporated
by reference herein.

On December 10, 2018,
the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf
of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable
law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described
herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting
Persons and any other person, with respect to the securities of the Issuer.