SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 000-19514
NOTIFICATION OF LATE FILING
(Check One): Form 10-K Form 11-K Form 20-F X Form 10-Q
Form N-SAR
For Period Ended: September 30, 1998
Transition Report on Form 10-K Transition Report on Form 10-Q
Transition Report on Form 20-F Transition Report on Form N-SAR
Transition Report on Form 11-K
For the Transition Period Ended:
Read attached instruction sheet before preparing form. Please print
or type.
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the item(s) to which the notification relates:
PART I
REGISTRANT INFORMATION
Full name of registrant Gulfport Energy Corporation
Former name if applicable
Address of principal executive office (Street and number)
6307 Waterford Boulevard, Building D, Suite 100
City, state and zip code Oklahoma City, Oklahoma 73118
PART II
RULE 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate.)
(a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without
unreasonable effort or expense;
(b) The subject annual report, semi-annual report,
transition report on Form 10-K, 20-F, 11-K or Form
N-SAR, or portion thereof will be filed on or before
X the 15th calendar day following the prescribed due
date; or the subject quarterly report or transition
report on Form 10-Q, or portion thereof will be filed
on or before the fifth calendar day following the
prescribed due date; and
(c) The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable.
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period: As a result of the registrant's financial condition,
the registrant was required to reduce the number of internal accounting staff
and to outsource a portion of its accounting functions. In addition, a third
party engineering firm was delayed in providing the registrant with information
needed to complete its financial statements. As a result, the registrant was not
able to file its Quarterly Report on Form 10-Q for the three months ended
September 30, 1998 on or before November 16, 1998.
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PART IV OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Mark Liddell (405) 848-8807
(Name) (Area code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
X Yes No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
X Yes No
If so: attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.
During the three months ended September 30, 1998, the Company reported oil and
gas revenues of $2.3 million, a 53% decrease from $4.9 million for the
comparable period in 1997. This decrease was primarily attributable to a
significant reduction in the average oil and natural gas prices received during
1998 in combination with a 40% reduction in oil production and a 21% reduction
in gas production from the same period in 1997. The decline in oil and gas
production was due in part to the Company's failure to perform rework and
development activities due to the lack of adequate working capital. The
following table summarizes the Company's oil and gas production and related
pricing for the three months ended September 30, 1998 and 1997.
Gulfport Energy Corporation
(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date November 17, 1998 By /s/ Mark Liddell
----------------
Mark Liddell
President
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