FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WEXFORD CAPITAL LLC
   2. Issuer Name and Ticker or Trading Symbol
GULFPORT ENERGY CORP [GPOR] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
411 W PUTNAM AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
02/23/2005
(Street)

GREENWICH, CT 06830		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/23/2005   C   729,324 A $ 1.19 (4) 1,937,970 I (1) By: Wexford Special Situations 1996, L.P.
Common Stock 02/23/2005   C   122,381 A $ 1.19 (4) 325,194 I (1) By: Wexford Special Situations 1996 Institutional, L.P.
Common Stock 02/23/2005   C   206,998 A $ 1.19 (4) 463,097 I (1) By: Wexford-Euris Special Situations 1996, L.P.
Common Stock 02/23/2005   C   13,343 A $ 1.19 (4) 35,815 I (1) By: Wexford Spectrum Investors LLC
Common Stock 02/23/2005   C   882,253 A $ 1.19 2,344,342 I (1) By: Wexford Capital Partners II, L.P.
Common Stock 02/23/2005   C   164,681 A $ 1.19 437,594 I (1) By: Wexford Overseas Partners I, L.P.
Common Stock 02/23/2005   C   32,741 A $ 1.19 86,999 I (1) By: Wexford Special Situations 1996 Limited

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Warrants $ 1.19 02/23/2005   X     800 03/29/2002 03/29/2012 Common Stock 672,420 (2) 0 I (1) By: Wexford Special Situations 1996, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     12,312 05/21/2001 05/21/2006 Common Stock 56,904 (3) 0 I (1) By: Wexford Special Situations 1996, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     134 03/29/2002 03/29/2012 Common Stock 112,832 (2) 0 I (1) By: Wexford Special Situations 1996 Institutional, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     2,066 05/21/2001 05/21/2006 Common Stock 9,549 (3) 0 I (1) By: Wexford Special Situations 1996 Institutional, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     227 03/29/2002 03/29/2012 Common Stock 190,849 (2) 0 I (1) By: Wexford-Euris Special Situations 1996, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     3,494 05/21/2001 05/21/2006 Common Stock 16,149 (3) 0 I (1) By: Wexford-Euris Special Situations 1996, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     15 03/29/2002 03/29/2012 Common Stock 12,303 (2) 0 I (1) By: Wexford Spectrum Investors LLC
Common Stock Warrants $ 1.19 02/23/2005   X     225 05/21/2001 05/21/2006 Common Stock 1,040 (3) 0 I (1) By: Wexford Spectrum Investors LLC
Common Stock Warrants $ 1.19 02/23/2005   X     968 03/29/2002 03/29/2012 Common Stock 813,420 (2) 0 I (1) By: Wexford Capital Partners II, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     14,893 05/21/2001 05/21/2006 Common Stock 68,833 (3) 0 I (1) By: Wexford Capital Partners II, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     181 03/29/2002 03/29/2012 Common Stock 151,832 (2) 0 I (1) By: Wexford Overseas Partners I, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     2,780 05/21/2001 05/21/2006 Common Stock 12,849 (3) 0 I (1) By: Wexford Overseas Partners I, L.P.
Common Stock Warrants $ 1.19 02/23/2005   X     36 03/29/2002 03/29/2012 Common Stock 30,185 (2) 0 I (1) By: Wexford Special Situations 1996 Limited
Common Stock Warrants $ 1.19 02/23/2005   X     553 05/21/2001 05/21/2006 Common Stock 2,556 (3) 0 I (1) By: Wexford Special Situations 1996 limited

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WEXFORD CAPITAL LLC
411 W PUTNAM AVENUE
GREENWICH, CT 06830		     X    

Signatures

 Wexford Capital LLC By: /s/ Arthur H. Amron   03/02/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Reporting person serves as either the investment manager, manager or sub-advisor to each of the 7 separate entities listed herein as having acquired the Issuer's securities (the "Wexford Entities"). The Reporting Person disclaims beneficial ownership of the securities owned by the Wexford Entities for purposes of Rule 16(a)-(3)(a) promulgated under the Securities Act.
(2) These Warrants were issued in connection with the purchase of Units, each comprised of (i) one share of Cumulative Preferred Stock, Series A, par value $0.01 per share, and (ii) one warrant to initially acquire 250 shares of Common Stock, par value $0.01 per share of the Issuer, at a purchase price of $1,000 per Unit. The Warrants were subsequently affected by anti-dilution provisions giving the holder the right to acquire additional shares of Common Stock upon their exercise.
(3) These Warrants were initially acquired by Gulfport Funding LLC ("Gulfport"), a limited liability company managed by the Reporting Person, in connection with a loan made by Gulfport to the Issuer. Gulfport was subsequently liquidated and its Warrants distributed to its members, including the Wexford Entities.
(4) The purchase price was paid by the redemption of shares of Cumulative Preferred Stock, Series A, par value $0.01 per share, owned by the beneficial owners reported herein, at a price of $1,000 per share.

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