CURRENT REPORT PURSUANT
                         TO SECTION 13 OF 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

       Date of report (date of earliest event reported):DECEMBER 18, 1998


                           GULFPORT ENERGY CORPORATION
             (Exact name of registrant as specified in its charter)

                                    DELAWARE
         (State or other jurisdiction of incorporation or organization)

                                   73-1521290
                        (IRS Employer Identification No.)

                         6307 WATERFORD BLVD, SUITE 100
                          OKLAHOMA CITY, OKLAHOMA 73118
                                 (405) 848-8807
    (Address, including zip code, and telephone number, including area code,
                   of registrant's principal executive office)


Item 5.  OTHER EVENTS

On November 20, 1998, Gulfport Energy Corporation (the "Company")  completed its
stock  rights  offering as described in its S-1A  registration  statement  filed
October 30, 1998.  150,183,990  shares of the Company's common stock were issued
in exchange  for cash and the  conversion  of debt  totaling  $7,509,200.  As of
December 18, 1998, the Company had 172,260,305 shares of common stock issued and
outstanding.


                                   Signatures

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                            Gulfport Energy Corporation
                                            By:/s/  MARK LIDDELL   
                                                       Mark Liddell
                                                     President

Date: December 18, 1998