UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-Q


                                   (Mark One)
    [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
          ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2002
                                       OR
            [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934


                         COMMISSION FILE NUMBER 1-10753


                           GULPORT ENERGY CORPORATION
             (Exact name of Registrant as specified in its charter)

                              Delaware 73-1521290
                (State or other jurisdiction of I.R.S. Employer
                incorporation or organization Identification No.)


                              6307 Waterford Blvd.
                              Building D, 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)


Indicate by check mark whether the Registrant (1) has filed all reports required
to  be  filed  by  Section  13  or 15 (d) of the Securities Exchange Act of 1934
during  the  preceding 12 months (or for such shorter period that the Issuer was
required  to  file  such  reports)  and  (2)  has  been  subject  to such filing
requirements  for  the  past  90  days.  Yes[X]  No[ ]

APPLICABLE  ONLY  TO  REGISTRANTS  INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEEDING  FIVE  YEARS.

Indicate  by  check  mark  whether  the  registrant  has filed all documents and
reports  required  to  be filed by Section 12, 13 or 15(d) of the Securities and
Exchange  Act  of 1934 subsequent to the distribution of securities under a plan
confirmed  by  a  court.  Yes  [X]  No  [ ]

The  number  of  shares  of  the  Registrant's  Common  Stock,  $0.01 par value,
outstanding  as  of  November  13,  2002  was  10,146,566.

                                        1

                          GULFPORT ENERGY CORPORATION

                                TABLE OF CONTENTS

                           FORM 10-Q QUARTERLY REPORT


PART  I     FINANCIAL  INFORMATION

  Item  1  Financial  Statements

     Balance Sheets at September 30, 2002 (unaudited) and December 31, 2001    4

     Statements of Income for the Three and Nine Month Periods Ended
       September  30,  2002  and  2001  (unaudited)                            5

     Statements of Common Stockholders' Equity for the Nine Months Ended
       September  30,  2002  and  2001  (unaudited)                            6

     Statements  of  Cash  Flows  for  the  Nine  Months  Ended
       September  30,  2002  and  2001  (unaudited)                            7

     Notes  to  Financial  Statements                                          8

  Item  2  Management's  Discussion  and  Analysis  of  Financial
     Condition  and  Results  of  Operations                                  14

  Item  3  Quantitative and Qualitative Disclosures About Market Risk         25

  Item  4  Controls and Procedures                                            25

PART  II    OTHER  INFORMATION

  Item  1  Legal  Proceedings                                                 25

  Item  2  Changes  in  Securities  and  Use  of  Proceeds                    25

  Item  3  Defaults  upon  Senior  Securities                                 26

  Item  4  Submission  of  Matters  to  a  Vote  of  Security  Holders        26

  Item  5  Other  Information                                                 26

  Item  6  Exhibits  and  Reports  on  Form  8-K                              26

           Signatures                                                         27


                                        2

                          GULFPORT ENERGY CORPORATION




                          PART I. FINANCIAL INFORMATION
                          Item 1. Financial Statements
                          September 30, 2002 and 2001







              Forming a part of Form 10-Q Quarterly Report to the
                       Securities and Exchange Commission


This  quarterly  report on Form 10-Q should be read in conjunction with Gulfport
Energy  Corporation's Annual Report on Form 10-K for the year ended December 31,
2001.




















                                        3


                          GULFPORT ENERGY CORPORATION

                                 BALANCE SHEETS



                                                   September 30,  December 31,
                                                       2002           2001
                                                   -------------  ------------
                                                    (Unaudited)
                                     Assets

Current  assets:
                                                             
  Cash  and  cash  equivalents                     $  4,165,000    $  1,077,000
  Accounts  receivable,  net  of  allowance
    for  doubtful  accounts  of  $239,000 as
    of September 30, 2002 and December 31, 2001         589,000       1,096,000
  Accounts  receivable  -  related  party                95,000         160,000
  Prepaid  expenses  and  other  current  assets        204,000         253,000
                                                   ------------    ------------
          Total  current  assets                      5,053,000       2,586,000
                                                   ------------    ------------

Property  and  equipment:
  Oil  and  natural  gas properties                 110,889,000     103,344,000
  Other  property  and  equipment                     1,985,000       1,976,000
  Accumulated  depletion,  depreciation,
    amortization                                    (72,043,000)    (69,597,000)
                                                   ------------    ------------

          Property  and equipment, net               40,831,000      35,723,000
                                                   ------------    ------------

Other  assets                                         2,763,000       2,583,000
                                                   ------------    ------------

                                                   $ 48,647,000    $ 40,892,000
                                                   ============    ============

                      Liabilities and Stockholders' Equity

Current  liabilities:
  Accounts  payable  and  accrued  liabilities     $  3,919,000    $  2,637,000
     Note  payable  -  related  party                         -       3,000,000
     Current  maturities  of  long-term  debt            22,000       1,120,000
                                                   ------------    ------------

          Total  current  liabilities                 3,941,000       6,757,000
                                                   ------------    ------------

Long-term  debt                                         119,000         143,000
                                                   ------------    ------------

          Total  liabilities                          4,060,000       6,900,000
                                                   ------------    ------------

Commitments  and  contingencies                               -               -

Redeemable  12%  cumulative  preferred  stock,
  Series  A,  $.01 par  value,  with  a
  redemption  and  liquidation  value  of
  $1,000  per  share;  15,000  and  0 authorized,
  10,001  and  0 issued  and  outstanding  at
  September  30,  2002  and  December  31, 2001,
  respectively                                       10,001,000               -

Preferred  stock,  $.01  par  value;  4,985,000
  and  1,000,000 authorized  at September 30,
  2002  and  December  31,  2001, respectively,
  none  issued                                                -               -

Common  stockholders'  equity:
   Common stock  -  $.01 par value, 20,000,000
     and  15,000,000  authorized,  10,146,566
     issued and outstanding at September 30,
     2002 and  December 31, 2001, respectively          101,000         101,000
   Paid-in  capital                                  84,192,000      84,192,000
   Accumulated  deficit                             (49,707,000)    (50,301,000)
                                                   ------------    ------------

                                                     34,586,000      33,992,000
                                                   ------------    ------------

            Total  liabilities  and
              stockholders'  equity                $ 48,647,000    $ 40,892,000
                                                   ============    ============


The "full cost" method of accounting for oil and gas exploration and production
          activities has been followed in preparing this balance sheet.

                See accompanying notes to financial statements.

                                        4

                          GULFPORT ENERGY CORPORATION
                              STATEMENTS OF INCOME
                                  (Unaudited)



                                      Three Months Ended            Nine Months Ended
                                         September 30,                September 30,
                                   -----------------------------------------------------
                                       2002         2001            2002         2001
                                   -----------  -----------     -----------  -----------
Revenues:
                                                                 
  Gas  sales                       $    92,000  $    56,000     $   280,000  $   222,000
  Oil  and  condensate  sales        3,655,000    4,068,000       9,253,000   12,245,000
  Other  income                          2,000       58,000         236,000      118,000
                                   -----------  -----------     -----------  -----------
                                     3,749,000    4,182,000       9,769,000   12,585,000
                                   -----------  -----------     -----------  -----------

Costs  and  expenses:
  Operating  expenses                1,240,000    1,059,000       3,630,000    3,630,000
  Production  taxes                    414,000      447,000       1,061,000    1,391,000
  Depreciation, depletion, and
    amortization                       871,000      991,000       2,459,000    2,787,000
  General and administrative           428,000      273,000       1,255,000    1,132,000
                                   -----------  -----------     -----------  -----------
                                     2,953,000    2,770,000       8,405,000    8,940,000
                                   -----------  -----------     -----------  -----------

INCOME  FROM  OPERATIONS:              796,000    1,412,000       1,364,000    3,645,000
                                   -----------  -----------     -----------  -----------

OTHER  (INCOME)  EXPENSE:
  Gain on settlement of disputed
    items                                    -            -               -     (482,000)
  Interest  expense                      3,000      103,000         109,000      274,000
  Interest  income                     (16,000)     (28,000)        (48,000)    (115,000)
                                   -----------  -----------     -----------  -----------
                                       (13,000)      75,000          61,000     (323,000)
                                   -----------  -----------     -----------  -----------

INCOME  BEFORE  INCOME  TAXES          809,000    1,337,000       1,303,000    3,968,000

INCOME  TAX  EXPENSE  (BENEFIT):
  Current                              324,000      535,000         521,000    1,587,000
  Deferred                            (324,000)    (535,000)       (521,000)  (1,587,000)
                                   -----------  -----------     -----------  -----------
                                             -            -               -            -
                                   -----------  -----------     -----------  -----------

NET  INCOME                            809,000    1,337,000       1,303,000    3,968,000

Less:  Preferred stock dividends      (356,000)           -        (709,000)           -
                                   -----------  -----------     -----------  -----------

NET  INCOME  AVAILABLE  TO
  COMMON  STOCKHOLDERS             $   453,000  $ 1,337,000      $  594,000  $ 3,968,000
                                   ===========  ===========      ==========  ===========

NET INCOME PER COMMON SHARE:
  Basic                            $      0.04  $      0.13      $     0.06  $      0.39
                                   ===========  ===========      ==========  ===========

  Diluted                          $      0.04  $      0.13      $     0.06  $      0.38
                                   ===========  ===========      ==========  ===========



                See accompanying notes to financial statements.

                                        5

                          GULFPORT ENERGY CORPORATION
                    Statements of Common Stockholders' Equity
                                  (Unaudited)



                                                                     Additional
                              Preferred Stock      Common Stock        Paid-in     Accumulated
                              ---------------    -----------------
                               Shares  Amount    Shares     Amount     Capital       Deficit
                               ------  ------  ----------  --------  -----------  -------------
                                                                
Balance at December 31, 2000      -    $   -   10,145,400  $101,000  $84,190,000  $(55,718,000)

  Common  shares  issued          -        -        1,166         -        2,000             -

  Net  income                     -        -            -         -            -     3,968,000
                               ------  ------  ----------  --------  -----------  -------------
Balance at September 30, 2001     -    $   -   10,146,566  $101,000  $84,192,000  $(51,750,000)
                               ======  ======  ==========  ========  ===========  =============



Balance at December 31, 2001      -    $   -   10,146,566  $101,000  $84,192,000  $(50,301,000)

  Net  income                     -        -            -         -            -     1,303,000

  Preferred stock dividends       -        -            -         -            -      (709,000)
                               ------  ------  ----------  --------  -----------  -------------
Balance at September 30, 2002     -    $   -   10,146,566  $101,000  $84,192,000  $(49,707,000)
                               ======  ======  ==========  ========  ===========  =============



                See accompanying notes to financial statements.

















                                        6

                          GULFPORT ENERGY CORPORATION
                            Statements of Cash Flows
                                  (Unaudited)



                                                          For the Nine Months
                                                          Ended September 30,
                                                     --------------------------
                                                          2002          2001
                                                     ------------  ------------
Cash  flows  from  operating  activities:
                                                             
  Net  income                                        $  1,303,000  $  3,968,000
  Adjustments  to  reconcile  net  income  to
    net  cash  provided  by  operating  activities:
      Depletion,  depreciation  and  amortization       2,446,000     2,760,000
      Amortization  of  debt  issuance  costs              13,000        27,000
  Changes  in  operating  assets  and  liabilities:
      (Increase) decrease in accounts  receivabl          507,000     1,916,000
      (Increase) decrease in accounts receivable -
        related                                            65,000      (239,000)
      (Increase)  decrease  in  prepaid  expenses          36,000       (35,000)
      (Decrease)  increase  in  accounts  payable
        and  accrued  liabilities                       1,545,000    (1,457,000)
                                                     ------------  ------------

Net cash provided by operating activities               5,915,000     6,940,000
                                                     ------------  ------------

Cash  flows  from  investing  activities:
  (Additions) to cash held in escrow                     (180,000)     (469,000)
  (Additions)  to  other  assets                                -             -
  (Additions) to other property, plant
    and  equipment                                         (9,000)      (50,000)
  (Additions) to oil and gas properties                (7,545,000)  (11,871,000)
                                                     ------------  ------------

Net  cash  used in investing activities                (7,734,000)  (12,390,000)

Cash  flows  from  financing  activities:
  Borrowings on note payable  -  related party                  -     3,000,000
  Borrowings  on  note  payable                                 -       960,000
  Principal  payments  on borrowings                   (1,122,000)     (556,000)
  Proceeds  from  issuance  of  preferred
    and  common stock                                   6,029,000         2,000
                                                     ------------  ------------

Net cash provided by financing activities               4,907,000     3,406,000
                                                     ------------  ------------

Net increase (decrease) in cash and
  cash  equivalents                                     3,088,000    (2,044,000)

Cash and cash equivalents at beginning of period        1,077,000     3,657,000
                                                     ------------  ------------

Cash and cash equivalents at end of period           $  4,165,000  $  1,613,000
                                                     ============  ============

Supplemental disclosure of cash flow information:
  Interest  payments                                 $     31,000  $     81,000
                                                     ============  ============

Supplemental disclosure of non-cash transactions:
  Repayment  of  note  payable  to  related
    party  through issuance  of  Series  A
    Preferred  Stock                                 $  3,000,000  $          -
                                                     ============  ============

  Repayment of accrued  interest  due  on
    note  payable to  related  party  through
    issuance  of  Series  A  Preferred  Stock        $    263,000  $          -
                                                     ============  ============

  Payment  of  Series  A  Preferred  Stock
    dividends  through issuance  of  Series  A
    Preferred  Stock                                 $    709,000  $          -
                                                     ============  ============


                See accompanying notes to financial statements.

                                        7


                          GULFPORT ENERGY CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                                  (Unaudited)


     These condensed financial statements have been prepared by  Gulfport Energy
Corporation (the "Company") without audit, pursuant to the rules and regulations
of  the  Securities  and Exchange Commission, and reflect all adjustments, which
are  in the opinion of management, necessary for a fair statement of the results
for the interim periods, on a basis consistent with the annual audited financial
statements.  All  such  adjustments  are  of a normal recurring nature.  Certain
information,  accounting policies, and footnote disclosures normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles  have  been  omitted pursuant to such rules and regulations, although
the  Company  believes that the disclosures are adequate to make the information
presented  not  misleading.   These  financial  statements  should  be  read  in
conjunction  with  the  financial  statements  and  the  summary  of significant
accounting  policies  and  notes  thereto  included in the Company's most recent
annual  report  on  Form  10-K.

1.   ACCOUNTS  RECEIVABLE  -  RELATED  PARTY

     Included  in  the accompanying September 30, 2002 balance sheet are amounts
receivable  from  entities  that  have  similar  controlling  interests as those
controlling  the  Company.  These  receivables  represent  amounts billed by the
Company  for  general  and  administrative  functions  performed  by  Gulfport's
personnel  on  behalf  of  the  related  party  companies  during 2001 and 2002.
Gulfport  has  reduced  its  corresponding expenses for the three and nine-month
periods  ending September 30, 2002 by $18,000 and $231,000, respectively, billed
to  the  companies for performance of these services.  As of September 30, 2001,
the  Company  had  billed  the  companies  a  total  of $239,000 and reduced its
corresponding  expenses  accordingly.

2.   PROPERTY  AND  EQUIPMENT

     The  major  categories  of  property  and equipment and related accumulated
depreciation,  depletion  and  amortization  are  as  follows:



                                      September 30, 2002       December 31, 2001
                                      ------------------       -----------------
                                                          
Oil  and  gas  properties              $    110,889,000         $   103,344,000
Office  furniture  and  fixtures              1,508,000               1,499,000
Building                                        217,000                 217,000
Land                                            260,000                 260,000
                                       ----------------         ---------------

Total  property  and  equipment             112,874,000             105,320,000

Accumulated depreciation, depletion,
  amortization and impairment reserve       (72,043,000)            (69,597,000)
                                       ----------------         ---------------

Property  and  equipment,  net         $     40,831,000         $    35,723,000
                                       ================         ===============


                                        8



3.   OTHER  ASSETS

     Other  assets  consist  of  the  following:



                                         September 30, 2002    December 31, 2001
                                         ------------------    -----------------
Plugging and abandonment escrow account
                                                           
  on the WCBB properties                   $  2,452,000          $ 2,272,000
CD's securing letter of credit                  200,000              200,000
Deposits                                        111,000              111,000
                                           ------------          -----------

                                           $  2,763,000          $ 2,583,000
                                           ============          ===========



4.   LONG-TERM  DEBT

     The  building  loan  of  $141,000  relates  to  a  building  in  Lafayette,
Louisiana, purchased in 1996 to be used as the Company's Louisiana headquarters.
The  building  is  12,480  square  feet  with approximately 6,180 square feet of
finished  office  area  and 6,300 square feet of warehouse space.  This building
allows  the Company to provide office space for Louisiana personnel, have access
to  meeting  space  close  to the fields and to maintain a corporate presence in
Louisiana.

A  break  down  of  long-term  debt  is  as  follows:



                                      September 30, 2002       December 31, 2001
                                      ------------------       -----------------
                                                          
Note  payable                          $             -          $     1,100,000
Building  loan                                 141,000                  163,000
                                       ---------------          ---------------
                                                     -                1,263,000
Less - current  maturities  of
       long-term debt                          (22,000)              (1,120,000)
                                       ---------------          ---------------

Debt  reflected  as  long  term        $       119,000          $       143,000
                                       ===============          ===============




5.   NOTE  PAYABLE  -  RELATED  PARTY

     On  March  29,  2002, the outstanding balance of the Company's note payable
due  to  Gulfport  Funding,  LLC  ("Gulfport  Funding")  along  with all related
accumulated  interest  on  the  note,  were  retired  through Gulfport Funding's
participation  in  the Company's Private Placement Offering as described in Note
10.


                                        9


6.   REVOLVING  LINE  OF  CREDIT

     On  June  20,  2002, the Company entered into a line of credit with Bank of
Oklahoma.  Under  the  terms  of  the  new agreement, the Company was extended a
commitment  to  borrow  up  to $2,300,000.  Amounts borrowed under the line bear
interest  at  Chase  Manhattan  Prime  plus  1%,  with  payments  of interest on
outstanding  balances  due  monthly  beginning  August  1,  2002.  Any principal
amounts  borrowed  under  the line will be due on July 1, 2003.  As of September
30,  2002,  no  amounts  had  been  borrowed  under  this  line.

7.   CASTEX  BACK-IN

     Gulfport sold its interest in the Bayou Penchant, Bayou Pigeon, Deer Island
and  Golden  Meadow  fields  to  Castex Energy 1996 Limited Partnership (Castex)
effective  April  1,  1998  subject  to  a  25%  reversionary  interest  in  the
partnership  after  Castex  had received 100% of the initial investment.  Castex
informed  Gulfport that the investment had paid out effective September 1, 2001.
In  lieu  of  a  25%  interest  in  the  partnership, Gulfport elected to take a
proportionately  reduced  25% working interest in the properties.  During March,
2002  the  Company received approximately $220,000 from Castex which the Company
believes  consists  of sales income for the period after payout net of operating
expenses,  although  the  Company  has  not received confirmation of such.  As a
result,  this amount received has been included in the accompanying statement of
income  for  the  nine  months  ended  September  30,  2002  as  "Other Income".

8.   EARNINGS  PER  SHARE

     A  reconciliation  of  the  components  of basic and diluted net income per
common  share  is  presented  in  the  table  below:



                                          For the Three Months Ended September 30,
                               ------------------------------------------------------------
                                            2002                            2001
                               ----------------------------   -----------------------------
                                                      Per                             Per
                                Income     Shares    Share      Income     Shares    Share
                               --------  ----------  ------   ----------  ---------  ------
Basic:
  Income attributable to
                                                                    
    common stock               $453,000  10,146,566   $0.04   $1,337,000  10,146,566  $0.13
                                                      =====                           =====
Effect of dilutive securities
  Stock options                       -     232,904                    -     325,187
                               --------  ----------           ----------  ----------

Diluted:
  Income attributable to
    common stock, after
    assumed dilutions          $453,000  10,379,470   $0.04   $1,337,000  10,471,753  $0.13
                               ========  ==========   =====   ==========  ==========  =====





                                       10




                                           For the Nine Months Ended September 30,
                               ------------------------------------------------------------
                                            2002                            2001
                               ----------------------------   -----------------------------
                                                      Per                             Per
                                Income     Shares    Share      Income     Shares    Share
                               --------  ----------  ------   ----------  ---------  ------
Basic:
  Income attributable to
                                                                    
    common stock               $594,000  10,146,566   $0.06   $3,968,000  10,145,960  $0.39
                                                      =====                           =====
Effect of dilutive securities
  Stock options                       -     281,726                    -     345,081
                               --------  ----------           ----------  ----------

Diluted:
  Income attributable to
    common stock, after
    assumed dilutions          $594,000  10,428,292   $0.06   $3,968,000  10,491,041  $0.38
                               ========  ==========   =====   ==========  ==========  =====



     Common  stock  equivalents  not  included  in  the  calculation  of diluted
earnings  per  share at September 30, 2001, above consists of 1,163,195 warrants
issued  at  the  time  of  the  Company's reorganization.  By their terms, these
warrants  expired in July 2002.  Not included in the calculation of 2002 diluted
earnings  per share are 108,625 warrants issued in connection with the Company's
revolving  line of credit with Gulfport Funding and 2,322,893 warrants issued in
connection  with  the  Company's Private Placement Offering as discussed in Note
10.  These potential common shares were not considered in the calculation due to
their  anti-dilutive  effect  during  the  periods  presented.

9.   COMMITMENTS

     Plugging  and  Abandonment  Funds

     In  connection  with  the  acquisition of the remaining 50% interest in the
WCBB  properties, the Company assumed the obligation to contribute approximately
$18,000  per  month through March, 2004, to a plugging and abandonment trust and
the  obligation  to  plug a minimum of 20 wells per year for 20 years commencing
March  11,  1997.  Texaco  (acquired  by  Chevron  USA  during  2001) retained a
security  interest  in  production   from  these  properties  until  abandonment
obligations  to  Texaco  have been fulfilled.  Once the plugging and abandonment
trust  is  fully  funded,  the  Company  can  access  it for use in plugging and
abandonment  charges associated with the property. As of September 30, 2002, the
plugging  and  abandonment trust totaled $2,452,000, including interest received
during  2002  of  approximately  $22,000.

     During March 2002, Gulfport began to fulfill its yearly plugging commitment
of 20 wells at WCBB for the twelve-month period ending March 31, 2002. As of the
date  of  this  filing,  the  plugging  had  been  completed.

     During July 2002, the Company commenced its plugging commitment program for
the  twelve-month  period  ending March 31, 2003. As of the date of this filing,
the  plugging  had  been  completed.


                                       11



     Office  Lease

     On  August  8, 2002, the Company executed a 60-month lease on 12,035 square
feet  of  office  space to commence on or around December 1, 2002.  Payments due
under  the  lease  during  its  term  are  as  follows:



                        For the 12 months ended September 30,
                 ----------------------------------------------------
                                                        
                 2003                                      $  198,000
                 2004                                         217,000
                 2005                                         217,000
                 2006                                         217,000
                 2007                                         217,000
                 2008                                          17,000
                                                           ----------

                     Total                                 $1,083,000
                                                           ==========



10.  PRIVATE  PLACEMENT  OFFERING

     In  March  2002,  the Company commenced a Private Placement Offering of $10
million  dollars  consisting of 10,000 Units.  Each Unit consists of (i) one (1)
share  of  Cumulative  Preferred Stock, Series A, of the Company (Preferred) and
(ii) a warrant to purchase up to 250 shares of common stock, par value $0.01 per
share.  Dividends accrue on the Preferred prior to the Mandatory Redemption Date
at  the rate of 12% per annum payable quarterly in cash or, at the option of the
Company  for a period not to exceed two (2) years from the Closing Date, payable
in  whole  or  in  part  in  additional  shares  of  the  Preferred based on the
Liquidation  Preference of the Preferred at the rate of 15% per annum.  No other
dividends  shall  be  declared  or shall accrue on the Preferred.  To the extent
funds  are  legally  available,  the Company is obligated to declare and pay the
dividends  on  the Preferred.  The Warrants have a term of ten (10) years and an
exercise price of $4.00.  The Company is required to redeem the Preferred on the
fifth  anniversary of the first issuance and the Company may at its sole option,
choose  to  redeem  the  Preferred at any time before the expiration of the five
years.  Accordingly,  the  Preferred  issued in connection with this Offering is
treated  as  redeemable  stock  in  the  accompanying  balance  sheet.

     Two-thirds  of  the  Preferred  Stockholders can affect any Company action,
which  would  effect their preference position.  The Preferred cannot be sold or
transferred by its holders and the Company must use its best efforts to register
with  the  Securities and Exchange Commission ("SEC") the common stock issued in
connection  with  the  exercise  of  the Warrants or, if possible, piggyback the
issued  common  stock  if the Company participates in a public offering with the
SEC.

     The  Offering  was  made  available  to  stockholders  (some  of  whom were
affiliates)  of  the  Company  as  of  December  31,  2001  who were known to be
accredited  investors by the Company.  Purchasers were able to participate up to
their  pro  rata  share of ownership in the Company as of December 31, 2001. The
Offering's  initial  closing  began March 29, 2002 and continued until April 15,
2002, with a total subscription of $9,292,000 or 9,291.85 units.   Mike Liddell,
the  Company's  Chief  Executive  Officer,  had  the option to subscribe for his
proportionate  share of the Offering until September 30, 2002.  On September 30,
2002,  Mike  Liddell  elected  not  to  participate.

     On  March  29,  2002,  Gulfport  Funding, LLC, participated in the Offering
through  a conversion of its $3.0 million dollar loan along with the accumulated

                                       12


interest  due  from  the Company for 3,262.98 Units.  Additionally, on March 29,
2002 entities controlled by the majority shareholder initially funded a share of
the  Preferred  Offering  in  the  amount  of  $2,738,000.

11.  DIVIDENDS  ON  SERIES  A  PREFERRED  STOCK

     As  discussed in Note 10, the Company may, at its option, accrue additional
shares  of  Preferred  for  the  payment of dividends at a rate of 15% per annum
rather  than accrue cash dividends payable at a rate of 12% per annum during the
initial  two  years following the closing date of its Offering.  The Company has
chosen  to  do  so for the three and nine-month periods ended September 30, 2002
and  has therefore accrued additional shares payable totaling 356.13 and 709.42,
respectively,  for  those periods related to the Preferred Stock Series A shares
issued  and  outstanding  during that time period.  These dividends payable were
calculated  based upon their $1,000 per share redemptive value and are reflected
as  "Series  A  preferred  stock"  in  the  accompanying  balance  sheet.

12.  RECLASSIFICATIONS

     Certain  reclassifications  have been made to the 2001 financial statements
presentation  in order to conform to the 2002 financial statements presentation.
Net  income  and  total  assets  were  not  affected by these reclassifications.

13.  ACCOUNTING  PRONOUNCEMENT

     In  August  2001,  the Financial Accounting Standards Board ("FASB") issued
Statement  of  Financial  Accounting Standards ("SFAS") No. 143, "Accounting for
Asset  Retirement  Obligations".  SFAS  No.  143 requires entities to record the
fair  value  of  a liability for an asset retirement obligation in the period in
which  it  is  incurred.  When  the  liability is initially recorded, the entity
capitalizes  a  cost by increasing the carrying amount of the related long-lived
asset.  Over  time,  the  liability is accreted to its present value each period
and  the  capitalized  cost  is  depreciated over the useful life of the related
asset.   Upon  settlement  of  the  liability,  an  entity  either  settles  the
obligation  for  its  recorded  amount or incurs a gain or loss upon settlement.
The  Company  is  required  to implement SFAS No. 143 beginning January 1, 2003.
The  effect  of implementation on the Company's financial statements has not yet
been  determined.

14.     SUBSEQUENT  EVENT

     Hurricane  Lili hit the southern gulf coast of Louisiana on October 3, 2002
with estimated sustained winds over 120 mph and a 9 1/2' tidal surge. The eye of
the  hurricane  came  onshore directly East of Gulfport's WCBB field.  The storm
caused  significant  damage  to the Company's production facilities and the WCBB
field,  which  normally  provides  approximately  80%  of  the Company's overall
production.  WCBB  was  totally  without  production  for  seventeen days.  When
production  was  first  restored,  the facilities were only able to handle wells
that  contributed approximately 50% of the total average daily production of the
field.  As  of  November  10,  2002, the field's production had been restored to
approximately  75%  and was expected to be at or near 100% by mid-November.  The
total  cost  to  restore  production to the field and the portion of those costs
which  will  be reimbursed by the Company's insurer were not yet determinable as
of  the  date  of  this  filing.

     During  the  third  quarter of 2002, the Company underwent a royalty audit,
which was conducted by the State of Louisiana. The audit covered the period from
January  1,  1999  through  December  31,  2001. The Company was notified during
October  of 2002 that the total additional royalty to be paid as a result of the
audit approximated $400,000. The Company anticipates recording the liability for
payment  of  these  royalties  during  the fourth quarter of 2002 once the final
amount  of  the  liability  is determined.

                                       13

                                     ITEM 2

                    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL POSITION AND RESULTS OF OPERATIONS
                DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS


     This  Form 10-Q includes "forward-looking statements" within the meaning of
Section  21E  of  the Securities Exchange Act of 1934 (the "Exchange Act").  All
statements,  other  than  statements  of historical facts, included in this Form
10-Q  that  address  activities,  events  or  developments  that Gulfport Energy
Corporation  ("Gulfport"  or  the "Company"), a Delaware corporation, expects or
anticipates  will or may occur in the future, including such things as estimated
future  net  revenues  from  oil and gas reserves and the present value thereof,
future  capital expenditures (including the amount and nature thereof), business
strategy  and  measures  to  implement  strategy,  competitive strengths, goals,
expansion and growth of the Company's business and operations, plans, references
to  future success, references to intentions as to future matters and other such
matters are  forward-looking  statements.  These statements are based on certain
assumptions  and analyses made by the Company in light of its experience and its
perception  of  historical   trends,  current  conditions  and  expected  future
developments  as  well  as  other  factors  it  believes  are appropriate in the
circumstances.  However,  whether  actual  results and developments will conform
with  the Company's expectations and predictions is subject to a number of risks
and  uncertainties;  general  economic,  market  or  business   conditions;  the
opportunities  (or  lack  thereof)  that  may be presented to and pursued by the
Company;  competitive actions by other oil and gas companies; changes in laws or
regulations;  and  other  factors,  many  of which are beyond the control of the
Company.  Consequently,  all of the forward-looking statements made in this Form
10-Q  are qualified by these cautionary statements and there can be no assurance
that  the  actual  results  or  developments  anticipated by the Company will be
realized,  or even if realized, that they will have the expected consequences to
or  effects  on  the  Company  or  its  business  or  operations.

     The  following  discussion is intended to assist in an understanding of the
Company's  financial  position  as  of  September  30,  2002  and its results of
operations  for  the  three  and nine-month periods ended September 30, 2002 and
2001.  The  Financial  Statements  and  Notes  included  in  this report contain
additional  information  and  should  be  referred  to  in conjunction with this
discussion.  It  is  presumed  that  the  readers  have  read  or have access to
Gulfport  Energy  Corporation's  2001  annual  report  on  Form  10-K.

Overview

     Gulfport  is  an independent oil and gas exploration and production company
with  properties  located  in  the  Louisiana Gulf Coast.  Gulfport has a market
enterprise  value  (the Company's diluted shares multiplied by the trading price
plus  long-term  debt  less  cash  and short-term investments on a given day) of
approximately  $20.5  million  dollars on November 12, 2002 and generated EBITDA
(earnings  before  interest, taxes and depletion, depreciation and amortization)
of $3.9 million and $6.5 million dollars for the nine months ended September 30,
2002  and  2001,  respectively.

     As  of  January  1,  2002,  the  Company had in excess of 28.9 MMBOE proved
reserves  with  a  present  value  (discounted  at  10%) of estimated future net

                                       14


reserves of $130 million dollars and a standardized measure of discounted future
net  cash  flows  of  $128.9  million  dollars.

     Gulfport  is  actively  pursuing  further  development of its properties in
order  to  fully  exploit  its  reserves.    The  Company  has  a  portfolio  of
developmental  projects  for  the  next  several years. Gulfport's developmental
program  is  designed  to  penetrate  several  producing horizons increasing the
probability  of  success.

     Additionally,  Gulfport  owns  3-D  seismic  data which will be used by the
Company's  geophysicists  and  geologists  to identify exploratory prospects and
test  undrilled  fault  blocks  in  its  existing  fields.

     The Company's operations are concentrated in two fields:  West Cote Blanche
Bay  and  the  Hackberry Fields.  In addition, during the first quarter of 2002,
the Company backed in to a working interest in the Bayou Penchant, Bayou Pigeon,
Deer  Island  and  Golden  Meadow  fields  operated  by  Castex  Energy.

West  Cote  Blanche  Bay

     Background

     West  Cote Blanche Bay ("WCBB") Field lies approximately five miles off the
coast  of  Louisiana primarily in St. Mary's Parish in a shallow bay, with water
depths  averaging eight to ten feet.  WCBB overlies one of the largest salt dome
structures  in the Gulf Coast.  There are over 100 distinct sandstone reservoirs
throughout  most  of the field and nearly 200 major and minor discrete intervals
have been tested.  Within almost 900 wellbores that have been drilled to date in
the  field,  over  4,000  potential  zones  have been penetrated.  The sands are
highly  porous  and  permeable  reservoirs  primarily with a strong water drive.

     As of September 30, 2002, there have been 877 wells drilled at WCBB, and of
these: 40 are currently producing, 297 are shut-in and five are utilized as salt
water  disposal  wells.  The balance of the wells (or 535) have been plugged and
abandoned.

     Activity  for  the  Nine  Months  Ended  September  30,  2002

     During the first quarter of 2002, Gulfport performed two re-completions and
one  workover  at  the West Cote Blanche Bay Field.  Some of this work commenced
during  the  fourth  quarter  of  2001.

In  March 2002, Gulfport began work on the yearly 20 well plugging commitment at
West  Cote  Blanche  Bay.  As  of  the  date  of this filing, the pluggings were
completed.

     During July 2002, the Company commenced its plugging commitment program for
the  twelve-month  period ending March 31, 2003.  As of the date of this filing,
the  pluggings  were  completed.

     Gulfport  began  a  seven well drilling program in April and finished it in
July  of  2002.  The  Company  completed  and  is currently producing five wells
drilled during the program.  Four of the five wells that are currently producing
are  directional  wells  that were steered by downhole motors so as to encounter
multiple hydrocarbon targets at the best structural position possible.  The four
directional wells drilled during this program encountered a total of 328 feet of

                                       15


net  pay  with a combined initial production rate of 460 barrels of oil, 548 mcf
of  gas  and  233  barrels of water per day. Gulfport drilled two non-productive
wells  in  the  most  recent drilling program.  One of these wells was a shallow
exploratory  well  drilled  near  the  lease  boundary,  while  the  other  well
encountered the target zones but the zones were deemed to be too thin to justify
completion.

     During  the  three  months ended September 30, 2002, Gulfport's net current
daily  production  in  this  field  averaged  1,365  barrels  of oil equivalent.

     Effective  August 1, 2002 Gulfport acquired additional interest in the deep
rights,  those  rights  located below the base of the Rob C formation found at a
depth  of  approximately  10,000',  at  the  West  Cote Blanche Bay Field.  This
acquisition brings Gulfport's interest to a total of 40.40% working interest and
29.95%  net  revenue  interest  in the deep rights at this field to go with 100%
working  interest  and  78.665% net revenue interest in the shallow rights.  The
Company  continues  to  work to increase its interest in its primary asset, West
Cote  Blanche  Bay.

     Subsequent  Events

     Hurricane  Lili hit the southern gulf coast of Louisiana on October 3, 2002
with  estimated sustained winds over 120 mph and a 9  ' tidal surge.  The eye of
the  hurricane  came on shore directly East of Gulfport's WCBB field.  The storm
caused  significant  damage  to the Company's production facilities and the WCBB
field,  which  normally  provides  approximately  80%  of  the Company's overall
production.  WCBB  was  totally  without  production  for  seventeen days.  When
production  was  first  restored,  the facilities were only able to handle wells
that  contributed approximately 50% of the total average daily production of the
field.  As  of  November  10,  2002, the field's production had been restored to
approximately  75%  and was expected to be at or near 100% by mid-November.  The
total  cost  to  restore  production to the field and the portion of those costs
which  will  be reimbursed by the Company's insurer were not yet determinable as
of  the  date  of  this  filing.

     Gulfport plans to commence a four to six well drilling program at West Cote
Blanche Bay around December 1, 2002.  These wells will have total depths ranging
from  2,500'  to 5,000' and each well will test at least two zones.  The Company
is drilling generally shallower wells in this drilling program in order to lower
risk  and  reduce  drilling  costs.

     Gulfport  has three recompletions planned in the next 30 to 60 days at West
Cote Blanche Bay.  These projects will be done while the rig is in the field for
the  drilling  program.

     Gulfport is in the process of filing for a permit to convert a well that is
currently  inactive  to  a  saltwater  disposal  well.  The  Company  is nearing
capacity  with  its  current  saltwater disposal system and feels that adding an
another  disposal well will not only service additional production that it hopes
to  discover in  the field, but will allow Gulfport to put into production wells
that are currently inactive due to a high salt water cut.

                                       16


Hackberry  Fields

     Background

     The  Hackberry  fields  are  located  along  the shore of Lake Calcasieu in
Cameron  Parish,  Louisiana.  The  Hackberry  Field  is  a  major salt intrusive
feature,  elliptical  in  shape with East Hackberry on the east end of the ridge
with  West Hackberry located on the western end of the ridge.  There are over 30
pay  zones  in  this  field.  The salt intrusion formed a series of structurally
complex  and steeply dipping fault blocks in the Lower Miocene and Oligocene age
rocks.  These  fault  blocks  serve  as traps for hydrocarbon accumulation. West
Hackberry  consists  of  a  series  of  fault-bounded traps in the Oligocene-age
Vincent  and  Keough  sands  associated  with  the  Hackberry  Salt  Ridge.

      The  East  Hackberry field was discovered in 1926 by Gulf Oil Company (now
Chevron Corporation) by a gravitational anomaly survey. The massive shallow salt
stock  presented  an easily recognizable gravity anomaly indicating a productive
field.  Initial  production began in 1927 and has continued to the present.  The
estimated  cumulative oil and condensate production through 1999 was 111 million
barrels  of  oil  with  casinghead gas production being 60 billion cubic feet of
gas.  There  have been a total of 170 wells drilled on Gulfport's portion of the
field  with  17  having  current  daily production; 3 produce intermittently; 69
wells  are shut-in and 4 wells have been converted to salt water disposal wells.
The  remaining  77  wells  have  been  plugged  and  abandoned.

     On  Gulfport's  West  Hackberry  lease blocks, the first discovery well was
drilled  in  1938  and  was  developed  by Superior Oil Company (now Exxon-Mobil
Corporation)  between 1938 and 1988. The estimated cumulative oil and condensate
production  through  2000  was  170  million  barrels of oil with casinghead gas
production of 120 billion cubic feet of gas. There have been 36 wells drilled to
date  on  Gulfport's  portion of West Hackberry and currently 1 is producing, 26
are  shut-in  and  1  well  has been converted to a saltwater disposal well. The
remaining  8  wells  have  been  plugged  and  abandoned.

     Gulfport's continued plan of development includes the testing of additional
wells that are currently inactive, mostly in the southern portion of State Lease
50.  These  additional  tests  should allow the Company to restore more wells to
productive  status  in  the  near  future.

     Activity  for  the  Nine  Months  Ended  September  30,  2002

     During  the  first  quarter  of  2002,  Gulfport worked over one salt-water
disposal  well  at  the East Hackberry Field.  The Company also commenced a four
well  plugging  program  on  the  State  Lease  50 portion of East Hackberry and
completed  the  work  in  the  second  quarter.

     During  September  2002,  total  net  production per day for both Hackberry
fields  averaged  221  barrels  of  oil  equivalent.

     Subsequent  Events

     Gulfport  is  in the process of recompleting a well at the SL 50 portion of
its  East  Hackberry  field.  Before  the  rig  could  be moved on the well, the
Company  had  to  perform major dredging work to access the location.  While the

                                       17


dredge  was  in  the  field Gulfport also chose to scour an area that had filled
with  silt  that  will  allow  easier  access  to the southern side of the SL 50
portion  of  East  Hackberry.

     Gulfport  shut-in  the Hackberry field production for about ten days during
September  and  October  of  2002  in  conjunction  with  hurricanes.  The field
suffered  no  major  damage  due  to  hurricanes.

     During  the fourth quarter of 2002, Gulfport plans to drill a new saltwater
disposal well at the Erwin Lease.  The Company also plans to workover four wells
on  the  M.  P. Erwin portion of East Hackberry and recomplete one well at State
Lease  50.

     Gulfport  has  filed a permit with the State of Louisiana in order to drill
an additional saltwater disposal well at the Erwin portion of the East Hackberry
field.  This  disposal  well will allow the Company to fully activate wells that
have  been  inactive or occasionally productive thereby increasing production at
the  Erwin  portion  of  East  Hackberry.  Gulfport  also  plans  to replace the
saltwater  tanks  at  both  SL  50  and  the  Erwin  portions of East Hackberry.

     Gulfport  is  in  the  process  of re-mapping the East Hackberry field, has
found  four  new drilling locations and is in the process of compiling costs and
running economics on these projects.  If the wells prove to be economic, between
one  and  four  wells  will  likely  be  drilled  during the first half of 2003.

     Gulfport  has  several wells that it plans to workover or recomplete at the
Hackberry  field  within  the  next  year.

Castex  Back-In

     Gulfport sold its interest in the Bayou Penchant, Bayou Pigeon, Deer Island
and  Golden  Meadow  fields  to Castex Energy 1996 Limited Partnership effective
April  1,  1998  subject to a 25% reversionary interest in the partnership after
Castex  had  received  100% of the initial investment.  Castex informed Gulfport
that  the investment had paid out effective September 1, 2001.  In lieu of a 25%
interest  in the partnership, Gulfport elected to take a proportionately reduced
25% working interest in the properties.  During March, 2002 the Company received
approximately  $220,000 from Castex which the Company believes consists of sales
income  for  the  period  after  payout  net of operating expenses, although the
Company  has  not  received  confirmation  of  such.  As  a  result, this amount
received  has been included in the accompanying statement of income for the nine
months  ended  September  30,  2002  as  "Other  Income".









                                       18

The  following  financial  table recaps the Company's operating activity for the
three  and  nine-month  periods ended September 30, 2002 as compared to the same
periods  in  2001.


FINANCIAL  DATA  (unaudited):



                                      Three Months Ended            Nine Months Ended
                                         September 30,                September 30,
                                   -----------------------------------------------------
                                       2002         2001            2002         2001
                                   -----------  -----------     -----------  -----------
Revenues:
                                                                 
  Gas sales                        $    92,000  $    56,000     $   280,000  $   222,000
  Oil and  condensates sales         3,655,000    4,068,000       9,253,000   12,245,000
  Other income, net                     18,000       86,000         284,000      233,000
                                   -----------  -----------     -----------  -----------
                                     3,765,000    4,210,000       9,817,000   12,700,000

Expenses
  Lease operating expenses           1,240,000    1,059,000       3,630,000    3,630,000
  Production taxes                     414,000      447,000       1,061,000    1,391,000
  General and administrative           428,000      273,000       1,255,000    1,132,000
                                   -----------  -----------     -----------  -----------
                                     2,082,000    1,779,000       5,946,000    6,153,000

EBITDA (1)                           1,683,000    2,431,000       3,871,000    6,547,000

Depreciation,  depletion
  and amortization                     871,000      991,000       2,459,000    2,787,000
                                   -----------  -----------     -----------  -----------

Income before interest and taxes       812,000    1,440,000       1,412,000    3,760,000

Gain on settlement of
  disputed items                             -            -               -      482,000

Interest expense                        (3,000)    (103,000)       (109,000)    (274,000)
                                   -----------  -----------     -----------  -----------

Income before taxes                    809,000    1,337,000       1,303,000    3,968,000

Income tax expense (benefit):
  Current                              324,000      535,000         521,000    1,587,000
  Deferred                            (324,000)    (535,000)       (521,000)  (1,587,000)
                                   -----------  -----------     -----------  -----------

Net income                         $   809,000  $ 1,337,000     $ 1,303,000  $ 3,968,000

Less: Preferred stock dividends        356,000            -         709,000            -
                                   -----------  -----------     -----------  -----------

Net  income  available  to
  common shareholders              $   453,000  $ 1,337,000     $   594,000  $ 3,968,000
                                   ===========  ===========     ===========  ===========

Per  share  data:
  Net income                       $      0.04  $      0.13     $      0.06  $      0.39
                                   ===========  ===========     ===========  ===========

Weighted average common shares      10,146,566   10,146,566      10,146,566   10,145,960
                                   ===========  ===========     ===========  ===========


(1)  EBITDA  is  defined  as  earnings  before  interest,  taxes,  depreciation,
     depletion  and  amortization.  EBITDA  is  an analytical measure frequently
     used  by  securities  analysts  and  is  presented  to  provide  additional
     information  about  the  Company's ability to meet its future debt service,
     capital  expenditure and working capital requirements. EBITDA should not be
     considered as a better measure of liquidity than cash flow from operations.

                                       19

                              RESULTS OF OPERATIONS


Comparison  of  the  Three  Months  Ended  September  30,  2002  and  2001

     During  the three months ended September 30, 2002, the Company reported net
income  of  $.81  million,  a  decrease  from net income of $1.3 million for the
corresponding  period  in 2001.  This decrease is primarily due to the following
factors:

     Oil  and  Gas Revenues.  For the three months ended September 30, 2002, the
Company  reported  oil  and  gas  revenues of $3.7 million, a decrease from $4.1
million for the comparable period in 2001.  This decrease was due principally to
a  decrease  in oil production from 156,000 mbbls to 137,000 mbbls for the three
months  ended  September  30,  2001  and  2002,  respectively.  This decrease in
production  was  primarily  a  result of expected decline rates from the initial
targeted  zones  of  wells drilled last year and from decline rates of the older
existing  producing wells. This decrease in production was partially offset by a
slight  increase  in  the  average oil and gas prices for the three months ended
September  30,  2002  as  compared  to  the  same  period  in  2001.

     The  following  table  summarizes  the Company's oil and gas production and
related  pricing  for  the  three  months  ended  September  30,  2002 and 2001:



                                           Three  Months  Ended  September  30,
                                           -------------------------------------
                                                      2002           2001
                                                      ----           ----
                                                             
      Oil  production  volumes  (Mbbls)                137            156
      Gas  production  volumes  (Mmcf)                  25             20
      Average  oil  price  (per  Bbl)               $26.70         $26.05
      Average  gas  price  (per  Mcf)               $ 3.71         $ 2.81


     Operating  Expenses.  Lease  operating  expenses increased $.1 million from
$1.1  million  for the three months ended September 2001 to $1.2 million for the
comparable  period in 2002.  This increase was due primarily to slight increases
miscellaneous expenses as a result of the new wells drilled and completed during
2001.

     Depreciation,  Depletion  and  Amortization.  Depreciation,  depletion  and
amortization decreased $.12 million from $.99 million for the three months ended
September  30,  2001  to  $.87  million for the comparable period in 2002.  This
decrease was attributable primarily to a decrease in production to 141 MBOEs for
the  three months ended September 30, 2002 as compared to 159 MBOEs for the same
period  in  2001.

     General  and  Administrative Expenses.  General and administrative expenses
increased  from  $.27  million  for the three months ended September 30, 2001 to
$.43  million  for the comparable period in 2002.  This $.16 million increase is
due  mainly  to  a  reduction  in  administrative services reimbursement of $.22
million.  Of  the $.22 million total difference however, $.12 million related to
reimbursements  for prior periods in 2001 booked during the third quarter so the
actual  change in general and administrative services for the three months ended
September  30, 2002 as compared to the same period in 2001 was only $.1 million.
This  reduction  resulted from the Company's allocation of some its resources to
entities  that  have  similar  controlling  interests  as  those controlling the
Company.  During  2002, several of those similarly controlled entities were sold
which  eliminated  the  need  for the Company to allocate its resources to those
entities  and also eliminated the corresponding reimbursement of those expenses.

     Interest  Expense.  Interest  expense  decreased  from $.10 million for the
three  months  ended  September  30, 2001 to $3,000 for the comparable period in

                                       20


2002.  This  decrease  was primarily the result of the payoff of the loan from a
related  party  (see Note 5 to Financial Statements).  In addition, at September
30, 2002, the Company had reduced the outstanding balance on its existing credit
facility  with  Bank of Oklahoma from $1.43 million at September 30, 2001 to $0.

     Income  Taxes.  As  of  December  31, 2001, the Company had a net operating
loss  carryforward  of approximately $83 million, in addition to numerous timing
differences  which  gave  rise  to  a  deferred  tax  asset of approximately $47
million,  which  was  fully  reserved  by  a  valuation  allowance at that date.
Utilization  of  net  operating  loss carryforwards and other timing differences
will be recognized as a reduction in income tax expense in the year utilized.  A
current  tax  provision  of $.32 million was provided for the three-month period
ended  September 30, 2002, which was fully offset by an equal income tax benefit
due  to  operating  loss  carryforwards.

Comparison  of  the  Nine  Months  Ended  September  30,  2002  and  2001

     During  the  nine months ended September 30, 2002, the Company reported net
income  of  $1.3  million,  a  decrease  from net income of $4.0 million for the
corresponding  period  in 2001.  This decrease is primarily due to the following
factors:

     Oil  and  Gas  Revenues.  For the nine months ended September 30, 2002, the
Company  reported  oil  and  gas revenues of $9.5 million, a decrease from $12.5
million  for the comparable period in 2001.  This decrease was due to a decrease
in  oil  production  from  445  mbbls  to  381  mbbls  for the nine months ended
September  30,  2001  and  2002,  respectively.  This decrease in production was
primarily  a result of expected decline rates from the initial targeted zones of
wells  drilled  last year and from decline rates of the older existing producing
wells.  In addition, there was a decrease in total revenues due to lower product
prices  from  $25.86  per  MBOE  to  $24.13  per  MBOE for the nine months ended
September  30,  2001  and  2002  respectively

 The following table summarizes the Company's oil and gas production and related
pricing  for  the  nine  months  ended  September  30,  2002  and  2001:



                                           Nine  Months  Ended  September  30,
                                           -------------------------------------
                                                     2002           2001
                                                     ----           ----
                                                             
      Oil  production  volumes  (Mbbls)                381            445
      Gas  production  volumes  (Mmcf)                  84             45
      Average  oil  price  (per  Bbl)               $24.28         $27.50
      Average  gas  price  (per  Mcf)               $ 3.35         $ 4.96



     Operating  Expenses.  Lease  operating  expenses  remained constant for the
nine  months  ended  September  30,  2001  compared  to the same period in 2002.

     Depreciation,  Depletion  and  Amortization.  Depreciation,  depletion  and
amortization  decreased  $.3 million from $2.8 million for the nine months ended
September  30,  2001  to  $2.5  million for the comparable period in 2002.  This
decrease was attributable primarily to a decrease in production to 395 MBOEs for
the  nine  months ended September 30, 2002 as compared to 453 MBOEs for the same
period  in  2001.

                                       21


     General  and  Administrative Expenses.  General and administrative expenses
increased  slightly  from  $1.1  million for the nine months ended September 30,
2001 to $1.3 million for the comparable period in 2002.  This increase is due to
overall  increases  in  the  premiums  charged  to  the Company for both general
business insurance and for director's and officer's liability insurance, as well
as an increase in legal costs incurred in conjunction with the Company's Private
Placement  Offering  which  took  place  during  March  and  April  of  2002.

     Interest  Expense.  Interest  expense  decreased  from $.27 million for the
nine  months  ended September 30, 2001 to $.11 million for the comparable period
in  2002.  This decrease was primarily the result of the payoff of the loan from
a related party (see Note 5 to Financial Statements).  In addition, at September
30, 2002, the Company had reduced its outstanding balance on its current line to
$0  from  $1.43  million  at  September  30,  2001.

     Income  Taxes.  As  of  December  31, 2001, the Company had a net operating
loss  carryforward  of approximately $83 million, in addition to numerous timing
differences  which  gave  rise  to  a  deferred  tax  asset of approximately $47
million,  which  was  fully  reserved  by  a  valuation  allowance at that date.
Utilization  of  net  operating  loss carryforwards and other timing differences
will be recognized as a reduction in income tax expense in the year utilized.  A
current  tax  provision of $521,000 was provided for the nine-month period ended
September 30, 2002, which was fully offset by an equal income tax benefit due to
operating  loss  carryforwards.

Capital  Expenditures,  Capital  Resources  and  Liquidity

      Net  cash  flow provided by operating activities for the nine-month period
ended September 30, 2002 was $5.9 million, as compared to net cash flow provided
of  $6.9 million for the comparable period in 2001.  This decrease was primarily
due  to  a  decrease in the Company's net income related to a decline in oil and
gas  volumes  produced  and  sold  as  well  as a decline in oil and gas prices.

     Net  cash  used  in  investing  activities  during  the  nine  months ended
September 30, 2002 was $7.7 million as compared to $12.4 million used during the
same period of 2001.  This decrease was a result of the Company's more expensive
drilling and workover/recompletion program it initiated and completed in 2001 as
compared  to  the  Company's  initial  2002  program  completed  in  July  2002.

      Net  cash  provided  in  financing  activities  for  the nine months ended
September  30,  2002  was  $4.9 million as compared to net cash provided of $3.4
million  during  the same period of 2001.  The increase is primarily a result of
the proceeds received as a result of the Private Placement Offering initiated in
March  2002  and  completed  in  April  2002  (see  Note  10  to  the  Financial
Statements).

     Capital  Expenditures.  During  the  nine  months ended September 30, 2002,
Gulfport  invested $7.5 million in oil and gas properties and other property and
equipment  as compared to $11.9 million invested during the comparable period in
2001.  Of  the $7.5 million spent on capital expenditures during the nine months
ended September 30, 2002, $4.6 was spent on drilling activity and $2.9 was spent
on  capitalized  recompletions,  workovers  and  plugging and abandonment costs.

     During  the  nine  month period ended September 30, 2002, Gulfport financed
its  capital  expenditure  payment  requirements  with  cash  flows  provided by

                                       22


operations,  borrowings  under the Company's credit facilities and proceeds from
the  Private  Placement  Offering  completed  in  April  2002.

     Gulfport's  strategy is to continue to increase cash flows generated by its
properties  by  undertaking  new  drilling, workover, sidetrack and recompletion
projects  in  the  fields  to exploit its reserves. The Company has upgraded its
infrastructure  by  enhancing  its  existing  facilities  to  increase operating
efficiencies,  increase  volume  capacities  and lower lease operating expenses.
Additionally, Gulfport completed the reprocessing of its 3-D seismic data in its
principal  property, West Cote Blanche Bay. The reprocessed data will enable the
Company's geophysicists to generate new prospects and enhance existing prospects
in the intermediate zones in the field thus creating a portfolio of new drilling
opportunities.

     Capital  Resources.  On  July  11, 1997 Gulfport entered into a $15,000,000
credit  facility  with  ING  (U.S.) Capital Corporation ("ING"). During 1998 and
1999,  there were two amendments to the facility and the maturity date was reset
to  September  30,  2000.  On September 28, 2000, the Company repaid in full its
credit facility at ING and established a new credit facility at Bank of Oklahoma
("BOK").  Gulfport  was advanced $1.6 million on this new facility, which called
for interest payments to be made monthly in addition to twelve monthly principal
payments  of $100,000, with the remaining unpaid balance due on August 31, 2001.
On  March  22,  2001,  Gulfport  executed  a  new  note  with BOK increasing the
availability to $1,760,000, increasing the monthly payments slightly to $110,000
beginning  July 1, 2001 and extending the maturity date to October 1, 2002. This
new note replaces the original BOK note dated September 28, 2000. In April 2001,
the  Company  borrowed  the  amount  remaining  and  available on its BOK credit
facility.

     On  May  22,  2001,  the  Company  entered in to a revolving line of credit
agreement  with  Gulfport Funding, LLC, ("Gulfport Funding") which has ownership
in  common  with  the Company. Under the terms of the agreement, the Company may
borrow  up  to  $3,000,000,  with  borrowed  amounts bearing interest at Bank of
America  Prime  Rate  plus four percent. All outstanding principal amounts along
with  accrued  interest  were  due  on February 22, 2002. At March 29, 2002, the
Company  had  borrowed  the $3,000,000 available under this line. As a result of
the Private Placement Offering initiated in March 2002, this debt along with its
accumulated  interest  was retired in exchange for shares of preferred stock and
related  detachable  warrants.

                                       23


     In  March  2002,  the Company commenced a Private Placement Offering of $10
million  dollars  consisting of 10,000 Units.  Each Unit consists of (i) one (1)
share  of  Cumulative  Preferred Stock, Series A, of the Company (Preferred) and
(ii) a warrant to purchase up to 250 shares of common stock, par value $0.01 per
share.  Dividends accrue on the Preferred prior to the Mandatory Redemption Date
at  the rate of 12% per annum payable quarterly in cash or, at the option of the
Company  for a period not to exceed two (2) years from the Closing Date, payable
in  whole  or  in  part  in  additional  shares  of  the  Preferred based on the
Liquidation  Preference of the Preferred at the rate of 15% per annum.  No other
dividends  shall  be  declared  or shall accrue on the Preferred.  To the extent
funds  are  legally  available,  the Company is obligated to declare and pay the
dividends  on  the Preferred.  The Warrants have a term of ten (10) years and an
exercise price of $4.00.  The Company is required to redeem the Preferred on the
fifth  anniversary of the first issuance and the Company may at its sole option,
choose  to  redeem  the  Preferred at any time before the expiration of the five
years.  Accordingly,  the  Preferred  issued in connection with this Offering is
treated  as  redeemable  stock  in  the  accompanying  balance  sheet.

     Two-thirds  of  the  Preferred  Stockholders can affect any Company action,
which  would  effect their preference position.  The Preferred cannot be sold or
transferred by its holders and the Company must use its best efforts to register
with  the  Securities and Exchange Commission ("SEC") the common stock issued in
connection  with  the  exercise  of  the Warrants or, if possible, piggyback the
issued  common  stock  if the Company participates in a public offering with the
SEC.

     The  Offering  was  made  available  to  stockholders  (some  of  whom were
affiliates)  of  the  Company  as  of December 31, 2001 and who were known to be
accredited  investors by the Company.  Purchasers were able to participate up to
their  pro  rata  share of ownership in the Company as of December 31, 2001. The
Offering's  initial  closing  began March 29, 2002 and continued until April 15,
2002,  with a total subscription of $9,292,000 or 9,291.85 units.  Mike Liddell,
the  Company's  Chief  Executive  Officer,  had  the option to subscribe for his
proportionate  share of the Offering until September 30, 2002.  On September 30,
2002,  Mike  Liddell  elected  not  to  participate.

     On  March  29,  2002,  Gulfport  Funding, LLC, participated in the Offering
through  a conversion of its $3.0 million dollar loan along with the accumulated
interest  due  from  the Company for 3,262.98 Units.  Additionally, on March 29,
2002 entities controlled by the majority shareholder initially funded a share of
the  Preferred  Offering  in  the  amount  of  $2,738,000.

     On  June  20, 2002, the Company entered into a new line of credit with BOK.
Under  the  terms of the new agreement, the Company was extended a commitment to
borrow up to $2,300,000.  Amounts borrowed under the line bear interest at Chase
Manhattan  Prime  plus  one  percent,  with  payments of interest on outstanding
balances  due  monthly beginning August 1, 2002.  Any principal amounts borrowed
under  the line will be due on July 1, 2003.  The outstanding balance under this
credit  facility  was  $0  at  September  30,  2002.

     Liquidity.  The  primary  capital  commitments faced by the Company are the
capital requirements needed to continue developing the Company's proved reserves
and  to  continue  meeting   the  required  principal  payments  on  its  Credit
Facilities.

      In  Gulfport's  January  1,  2002  reserve  report,  85% of Gulfport's net
reserves  were  categorized  as  proved  undeveloped.  The  proved  reserves  of
Gulfport  will  generally decline as reserves are depleted, except to the extent
that  Gulfport  conducts  successful  exploration  or  development activities or
acquires  properties  containing  proved  developed  reserves,  or  both.

      To realize reserves and increase production, the Company must continue its
exploratory  drilling,  undertake  other replacement activities or utilize third
parties  to  accomplish those activities.  In the year 2002, Gulfport expects to
undertake  several intermediate drilling programs.  It is anticipated that these
reserve  development projects will be funded either through the use of cash flow
from  operations  when  available,  funds  received  through its Preferred Stock
Offering,  interim  bank financing or related third party financing, a long-term
credit  facility  or  by accessing the capital markets.  The cash flow generated
from  these  new  projects will be used to make the Company's required principal

                                       24


payments on its debt with the remainder reinvested in the field to complete more
capital  projects.

COMMITMENTS

Plugging  and  Abandonment  Funds

     In  connection  with  the  acquisition of the remaining 50% interest in the
WCBB  properties, the Company assumed the obligation to contribute approximately
$18,000 per month through March 2004 to a plugging and abandonment trust and the
obligation  to plug a minimum of 20 wells per year for 20 years commencing March
11,  1997.  Texaco  retained  a  security  interest  in  production  from  these
properties  and the plugging and abandonment trust until such time the Company's
obligations  to  Texaco  have been fulfilled.  Once the plugging and abandonment
trust  is  fully  funded,  the  Company  can  access  it for use in plugging and
abandonment charges associated with the property.  As of September 30, 2002, the
plugging  and abandonment trust totaled $2,452,000.  These funds are invested in
a  U.S.  Treasury  Money  Market.

     During March 2002, Gulfport began to fulfill its yearly plugging commitment
of  20  wells  at  WCBB for the twelve-month period ending March 31, 2002. As of
this  date  of  this  filing,  the  pluggings  were  completed.

     During July 2002, the Company commenced its plugging commitment program for
the  twelve-month  period  ending March 31, 2003. As of the date of this filing,
the  pluggings  were  completed.

     In addition, the Company has letters of credit totaling $200,000 secured by
certificates  of  deposit  being  held  for plugging costs in the East Hackberry
field.  Once  specific  wells  are  plugged  and  abandoned the $200,000 will be
returned  to  the  Company.

Office Lease

     On  August  8, 2002, the Company executed a 60-month lease on 12,035 square
feet  of  office  space  to  commence  on  or  around December 1, 2002.  Monthly
payments  under  the  lease  are  approximately  $18,000.

SUBSEQUENT EVENTS

     During  the  third  quarter of 2002, the Company underwent a royalty audit,
which was conducted by the State of Louisiana. The audit covered the period from
January  1,  1999  through  December  31,  2001. The Company was notified during
October  of 2002 that the total additional royalty to be paid as a result of the
audit approximated $400,000. The Company anticipates recording the liability for
payment  of  these  royalties  during  the fourth quarter of 2002 once the final
amount  of  the  liability  is  determined.

ITEM  3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     None

ITEM  4.  CONTOLS AND PROCEDURES

     Gulfport  Energy  Corporation,  under  the direction of the Chief Executive
Officer  and  the  Vice  President  and Chief Financial Officer, has established
disclosure  controls and procedures that are designed to ensure that information
required  to  be  disclosed  by Gulfport in the reports that it files or submits
under the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported  within  the  time periods specified in the SEC's rules and forms.  The
disclosure  controls  and  procedures  are  also  intended  to  ensure that such
information  is accumulated and communicated to Gulfport's management, including
the  Chief Executive Officer and the Vice President and Chief Financial Officer,
as  appropriate  to  allow  timely  decisions  regarding  required  disclosures.

     Within  90  days  prior  to the filing of this Form 10-Q, an evaluation was
performed  under  the  supervision  and  with  the  participation  of  Gulfport
management,  including  the  Chief  Executive Officer and the Vice President and
Chief  Financial  Officer,  of Gulfport's disclosure controls and procedures (as
those  terms  are defined in Rule 13a-14(c) under the Securities Exchange Act of
1934).  Based  upon  their  evaluation, the Chairman and Chief Executive Officer
and the Executive Vice President and Chief Financial Officer have concluded that
Gulfport's  disclosure  controls  and procedures are effective as of the date of
this  Form  10-Q.  In  compliance  with Section 302 of the Sarbanes-Oxley Act of
2002  (18  U.S.C. Section 1350), each of these officers executed a Certification
included  in  this  Form  10-Q.

     As  of  the  date  of  this  Form 10-Q, there have not been any significant
changes  in  Gulfport's  internal  controls  or  in  other  factors  that  could
significantly  affect these controls subsequent to the date of their evaluation.
No  significant  deficiencies  or  material weaknesses in such internal controls
were identified in the evaluation and as a consequence, no corrective action was
required  to  be  taken.


PART  II.

OTHER  INFORMATION

ITEM  1.  LEGAL  PROCEEDINGS

      Gulfport  has been named as a defendant in various lawsuits.  The ultimate
resolution of these matters is not expected to have a material adverse effect on
the  Company's  financial  condition  or  results  of operations for the periods
presented  in  the  financial  statements.


ITEM  2.  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS

        Not  applicable

                                       25


ITEM  3.  DEFAULTS  UPON  SENIOR  SECURITES

        Not  applicable


ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

       On  March 5, 2002, the holders of a majority of the outstanding shares of
the  Company's  common  stock executed a written consent electing five directors
for  the  next  year.

ITEM  5.  OTHER  INFORMATION

        None

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

           2.1        Form 8-K filed on  March 8, 2002  between  Registrant  and
                      Gulfport Funding, LLC.
          10.1        Credit  Agreement dated  June  28, 2000 between Registrant
                      and Bank of Oklahoma  filed  March  30,  2001  (1)
          10.2        Stock  Option  Plan  filed  March  30,  2001  (1)
          10.3        Credit Agreement dated February 1, 2001 between Registrant
                      and Bank of Oklahoma  (1)
          10.4        Credit  Agreement  dated  May  22, 2001 between Registrant
                      and Gulfport Funding,  LLC  (1)
          10.5        Warrant  Agreement  dated  May 22, 2001 between Registrant
                      and Gulfport Funding,  LLC  (1)
          10.6        Promissory  Note  dated  May  22,  2001 between Registrant
                      and Gulfport Funding,  LLC  (1)
          10.7        Confidential  Disclosure  Statement  Relating to Offer and
                      Sale of Up to 10,000  Units  dated  March  29,  2002

--------------------------------------------------------------------------------
          (1)     Previously filed as an exhibit to Form 10-K for the year ended
                  December 31,  2001,  and  incorporated  herein  by  reference.







                                       26


                                   SIGNATURES

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

                                       GULFPORT  ENERGY  CORPORATION

Date:  November  14,  2002


                                       /s/Mike  Liddell
                                       -----------------------------------------
                                       Mike  Liddell
                                       Chief  Executive  Officer


                                       /s/Mike  Moore
                                       -----------------------------------------
                                       Mike  Moore
                                       Chief  Financial  Officer




















                                       27


                                  CERTIFICATION

I, Mike Liddell, Chief Executive Officer of Gulfport Energy Corporation, certify
that:

1.   I have  reviewed  this  quarterly  report  on  Form 10-Q of Gulfport Energy
     Corporation;

2.   Based on  my  knowledge,  this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statement  made,  in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  quarterly report;

3.   Based  on  my  knowledge, the  financial  statements,  and  other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report;

4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a----14 and 15d-14) for the registrant and we have:

     a)   designed  such disclosure  controls  and  procedures  to  ensure  that
          material  information   relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during  the  period  in  which this quarterly
          report  is  being  prepared;

     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and

     c)   presented  in   this  quarterly  report   our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

5.   The registrant's  other certifying  officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent function):

     a)   all  significant deficiencies  in  the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial   data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and

     b)   any fraud, whether or  not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
         controls;  and

6.   The  registrant's  other certifying officers  and  I have indicated in this
     quarterly  report whether or not there were significant changes in internal
     controls  or  in  other  factors  that  could significantly affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date:     November  14, 2002              /s/Mike Liddell
                                          -------------------------
                                          Mike  Liddell
                                          Chief  Executive  Officer




                        CERTIFICATION OF PERIODIC REPORT

I,  Mike  Liddell,  Chief  Executive  Officer  of  Gulfport  Energy Corporation,
certify,  pursuant  to  Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C.
Section  1350,  that,  to  the  best  of  my  knowledge:

(1)  the  Quarterly  Report  on  Form  10-Q  of  the  Company  for the quarterly
     period  ended  September  30,  2002  (the "Report") fully complies with the
     requirements  of  Section 13 (a) or 15(d) of the Securities Exchange Act of
     1934 (15  U.S.C.  78M  or  78o(d);  and

(2)  the information contained  in  the  Report fairly presents, in all material
     respects, the financial condition and results of operations of the Company.




Dated:     November  14,  2002            /s/Mike Liddell
                                          -------------------------
                                          Mike  Liddell
                                          Chief  Executive  Officer





















                                  CERTIFICATION

I,  Michael  G.  Moore,  Chief Financial Officer of Gulfport Energy Corporation,
certify  that:

1.   I have  reviewed  this  quarterly  report  on  Form 10-Q of Gulfport Energy
     Corporation;

2.   Based on  my  knowledge,  this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statement  made,  in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  quarterly report;

3.   Based  on  my  knowledge,  the  financial  statements, and  other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report;

4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a----14 and 15d-14) for the registrant and we have:

     a)   designed  such disclosure  controls  and  procedures  to  ensure  that
          material  information   relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during  the  period  in  which this quarterly
          report  is  being  prepared;

     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and

     c)   presented  in   this  quarterly  report   our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

5.   The registrant's  other certifying  officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent function):

     a)   all  significant deficiencies  in  the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial   data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and

     b)   any fraud, whether or  not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
         controls;  and

6.   The  registrant's  other certifying officers  and  I have indicated in this
     quarterly  report whether or not there were significant changes in internal
     controls  or  in  other  factors  that  could significantly affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date:     November  14, 2002         /s/Mike Moore
                                     -------------------------
                                     Mike  Moore
                                     Chief  Financial  Officer




                        CERTIFICATION OF PERIODIC REPORT

I,  Michael  G.  Moore,  Chief Financial Officer of Gulfport Energy Corporation,
certify,  pursuant  to  Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C.
Section  1350,  that,  to  the  best  of  my  knowledge:

(1)  the  Quarterly  Report  on  Form  10-Q  of  the  Company  for the quarterly
     period  ended  September  30,  2002  (the "Report") fully complies with the
     requirements  of  Section 13 (a) or 15(d) of the Securities Exchange Act of
     1934 (15  U.S.C.  78M  or  78o(d);  and

(2)  the information  contained in  the  Report fairly presents, in all material
     respects, the financial condition and results of operations of the Company.




Dated:     November  14,  2002            /s/Mike Moore
                                          -------------------------
                                          Mike  Moore
                                          Chief  Financial  Officer