Goodrich Petroleum Proved Oil Reserves Grow By About 13M Barrels Of Oil Or 92%

Goodrich Petroleum Corporation (the "Company") reported proved reserves of 273.7 Bcfe as of December 31, 2014, with future net cash flow of $1.3 billion and present value of the future net cash flow before income taxes discounted at 10% ("PV-10") of $650.6 million. Proved oil reserves grew by approximately 13 million barrels of oil or 92% from December 31, 2013. Year-end reserves were comprised of 59.3% oil, 38.3% natural gas and 2.4% natural gas liquids, which does not include approximately 103.1 Bcfe of natural gas reserves due to the Securities and Exchange Commission's ("SEC") five year rule and 140.3 Bcfe of reserves (as of December 31, 2013) that were sold in December of 2014. SEC pricing for the year-end report was $94.99 per barrel of oil, $4.35 per MMBtu for natural gas and $44.84 per barrel of natural gas liquids. Proved reserves from the Tuscaloosa Marine Shale grew by 14.9 million barrels of oil equivalent (89.7 Bcfe) and $311 million of PV-10 compared to December 31, 2013, and now comprises 42.1% of the Company's reserves and 60.4% of the Company's PV-10.