Series E Preferred Stock - Dividend Payment

HOUSTON, Dec. 21, 2015 /PRNewswire/ -- In connection with Goodrich Petroleum Corporation's (NYSE: GDP) (the "Company") recent tender offer and issuance of depositary shares, each representing a 1/1000th ownership interest in a share of the Company's new 10.00% Series E Cumulative Convertible Preferred Stock (the "Series E Preferred Stock"), the Company has arranged for the filing of Form 211 with the Financial Industry Regulatory Authority ("FINRA") to initiate the listing of the Series E Preferred Stock on the OTC Global Markets, Inc. (the "OTC"). After FINRA authorizes listing of the Series E Preferred Stock on the OTC, the Company will set a record date for the payment of the initial dividend on the Series E Preferred Stock within three days of the authorization date and dividend payment date within three days of the record date, which dividend will be paid in shares of the Company's common stock. In addition, according to the terms of the Series E Preferred Stock, it may be converted at any time into shares of the Company's common stock at a rate of 5.0 shares of the Company's common stock for each depositary share of Series E Preferred Stock. To convert the Series E Preferred Stock the holder should contact their broker or our transfer agent, American Stock Transfer & Trust Company LLC, at (800) 937-5449.

SOURCE Goodrich Petroleum Corporation

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