1. GPC Management Presentation Oil & Gas Investment Symposium February 7-8, 2005 NYSE: GDP

2. Certain statements in this presentation regarding future expectations and plans for future activities may be regarded as “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. They are subject to various risks, such as financial market conditions, operating hazards, drilling risks and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. FORWARD LOOKING STATEMENT

3. Market Data as of February 1, 2005 Shares of Common Stock Outstanding – 20.6 Million Market Capitalization – $373 Million Insider Ownership – 60% Public Float – 8 million shares 52 Week Price Range - $5.85- $18.35 Investor Contacts Robert C. Turnham, Jr. D. Hughes Watler, Jr. President Chief Financial Officer robert.turnham@goodrichpetroleum.com hughes.watler@goodrichpetroleum.com Phone: (713)780-9494 Fax: (713)780-9254 (NYSE:GDP)

4. ■ Exploration and production company focused in the transition zone of South Louisiana and Cotton Valley trend of East Texas and Northwest Louisiana and the transition zone of South Louisiana ■ Significant upside and development potential from the company’s East Texas and North Louisiana Cotton Valley assets of approximately 45,000 gross acres ■ Multi-year project inventory on South Louisiana transition zone assets ■ Additional exploration upside from two 30 square mile 3-D surveys recently shot in South Louisiana ■ Significant control of activities and capital expenditures. Operator of all properties except one ■ Strong balance sheet with available capital to grow the company COMPANY PROFILE

5. ■ Grow through the drill bit. Significant reserve and production growth potential on existing assets and Cotton Valley acreage ■ Accelerate development of the Cotton Valley ( 33 wells budgeted for 2005) ■ Pursue strategic acquisitions where we can enhance value through development activities ■ Maintain risk managed approach to grow production and reserves CORPORATE STRATEGY

6. DIVERSIFIED DRILLING PORTFOLIO

7. COMPANY PROFILE – AREAS OF OPERATION St. Gabriel Core Properties 2005 Planned Activities South Henderson

8. COTTON VALLEY TREND ■ Approximately 45,000 gross acres acquired ■ Panola and Rusk Counties, Texas; Caddo and DeSoto Parishes, Louisiana ■ Natural gas play with low dry hole risk ■ Additional potential in the shallow zones (Travis Peak/Hosston/Pettit Formations) ■ Anticipated 40 acre spacing provides significant development potential and repeatability ■ 14 Wells drilled and completed. Average initial gross production rate of 1,350 Mcf per day. ■ 3 rigs running in the play. (Approximately 30 days between wells.) ■ 33 wells budgeted for 2005.

9. TYPICAL COTTON VALLEY SECTION

10. GAS RATE (MCF/DAY) COTTON VALLEY - EXPECTED CASE PRODUCTION MODEL (FIRST 12 MONTHS)

11. GAS RATE (MCF/DAY) COTTON VALLEY - EXPECTED CASE PRODUCTION MODEL (LIFE OF WELL)

12. WELL COST$1.5 MM RESERVES1.0 BCF INITIAL RATE 1,000 MCF/DAY IRR AT $5.00/MCF20% + AVG. WORKING INTEREST 80% WELLS PLANNED IN 200533 COTTON VALLEY EXPECTED CASE ECONOMICS

13. COTTON VALLEY TREND – EAST TEXAS NEW WELLS - INITIAL PRODUCTION RATES Prior Heirs #1 TP IP – 1,100 CV IP - 685 Mcf/day Martin Tuttle #1 IP - 1,800 Mcf/day Jackson #2 IP - 1,900 Mcf/day Ashby #1 IP - 1,000 Mcf/day Swiley #1 IP - 1,450 Mcf/day BECKVILLE N. MINDEN OAK HILL 1.3 Tcf CARTHAGE 3.1 Tcf F. Prior #1 IP - 970 Mcf/day Young Heirs #1 IP - 1,400 Mcf/day Brooks #1 IP – 1,042 Mcf/day Dickeson #1 IP – 2,066 Mcf/day Lake #1 IP – 2,225 Mcf/day Taliaferro #1 IP – 3,627 Mcf/day McRae #1 IP – 1,800 Mcf/day Wyatt #2 IP – 3,500 Mcf/day Martin Tuttle #2 IP – 1,242 Mcf/day Morgan #1 Completing Jackson Wyatt #A-3 Drilling Craig #1 Completing Holland #1 Drilling Pricer #1 Drilling

14. COTTON VALLEY TREND – NORTHWEST LOUISIANA NEW WELLS - INITIAL PRODUCTION RATES DEADWOOD BELLE BOWER 47 BCF HOLLY 111 BCF BETHANY CARTHAGE 3.1 TCF C. Taylor #1 IP - 1,000 Mcf/day J Holmes #1 IP - 492 Mcf/day M. Taylor #1 IP – 1,297 Mcf/day

15. BURRWOOD AND WEST DELTA 83 FIELDS ■ Plaquemines Parish, Louisiana ■ Fields discovered by Chevron in 1955 ■ Cumulative production 50 MMBO and 150 BCF from 16 productive sands ■ Acquired the Fields in February 2000 ■ 8600 acres of leases ■ Acquired 41 square mile 3-D in October 2001 ■ Approximately 55% working interest in current production and 65% leasehold interest in the Fields.

16. BURRWOOD AND WEST DELTA 83 FIELDS – PROJECT INVENTORY Gross Daily Production (Mcfe) 20 Future Projects Net CapEx of approximately $45.8 Million since acquisition. Produced approximately 27.5 gross Bcfe since acquisition

17. BURRWOOD AND WEST DELTA 83 FIELDS – PROJECT INVENTORY

18. LAFITTE FIELD ■ Jefferson Parish, Louisiana ■ Field discovered by Texaco in 1935 ■ Cumulative Production – 265 MMBO and 320 BCF from over 30 productive sands ■ Own a 49% working interest in the Field ■ 8200 acres under lease ■ 31 square mile 3-D seismic data over the Field

19. LAFITTE FIELD – PROJECT INVENTORY LAFITTE FIELD Jefferson Parish, Louisiana 7900’ SAND C.I. = 100’ 23 Future Projects

20. PLUMB BOB FIELD ■ St. Martin Parish, Louisiana ■ Field discovered by Texaco in 1929 ■ Cumulative Production – 17.3 MMBO and 23 BCF (126 BCFE) ■ Acquired 70% average working interest in September 2003; 17,000 acres of seismic and lease options ■ Acquired 30 square mile 3-D seismic survey in September 2004

21. PLUMB BOB FIELD St. Martin Parish, Louisiana

22. ST. GABRIEL FIELD ■ Ascension and Iberville Parishes Louisiana ■ Field discovered by Shell Oil Company in 1939 ■ Cumulative Production - 83 Bcf and 35 MMBO (293 Bcfe) ■ Own approximately 5,000 Acres of seismic and lease options, with 70% working interest ■ Acquired 30 square mile 3-D seismic survey over the field in November 2004. ■ Initial Development – 2Q 2005

23. ST. GABRIEL FIELD Ascension and Iberville Parishes, Louisiana

24. CAPITAL EXPENDITURES - 2005 $7 MM $20 MM $48 MM Exploration (7%) Moderate Risk Exploitation (29%) Low Risk Development (64%) 2005 Budget $75MM $42MM $20MM

25. CAPITAL EXPENDITURES AND RESERVE EXPOSURE - 2005 BUDGET

26. FINANCIAL RESULTS Operating Cash Flow ($ Millions) Earnings per Share (Basic) 200220042003 Estimate

27. UNIT OPERATING RESULTS (Per Mcfe) $3.66 $5.02 $5.71 20022003 2004 (9 months)

28. HEDGE POSITION Percentage of Current Volumes Hedged at Average Price Per Mcfe

29. WHY INVEST IN GOODRICH PETROLEUM? ■ We are a growth story – Multiple year, balanced drilling inventory ■ Capital expenditure budget increased to $75MM ■ We can control our own destiny with inventory and operations on all but one of our fields ■ Cotton Valley wells are reducing our per unit operating costs ■ Insiders and shareholders’ interests aligned. - Approximately 60% insider ownership