UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A-10 Under the Securities Exchange Act of 1934 (Amendment No. 10) GULFPORT ENERGY CORPORATION --------------------------- (Name of issuer) Common Stock, $.01 Par Value Per Share -------------------------------------- (Title of class of securities) 402635-10-6 -------------- (CUSIP number) Arthur H. Amron Wexford Capital LLC 411 West Putnam Avenue Greenwich, CT 06830 (203) 862-7012 -------------- (Name, address and telephone number of person authorized to receive notices and communications) May 3, 2006 ----------- (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule ss. 240.13d-7 Page 1 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Capital LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Connecticut ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------------------------------------------- Page 2 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Spectrum Investors LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------------------------------------------- Page 3 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Special Situations 1996, L.P. I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------------------------------------------- Page 4 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Special Situations 1996 Institutional, L.P. I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------------------------------------------- Page 5 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Advisors LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------------------------------------------- Page 6 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford-Euris Special Situations 1996, L.P. I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------------------------------------------- Page 7 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford-Euris Advisors LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------------------------------------------- Page 8 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Special Situations 1996 Limited I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Cayman Islands ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------------------------------------------- Page 9 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Capital Partners II, L.P. I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------------------------------------------- Page 10 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Capital Corporation I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO ------------------------------------------------------------------------------------------------------------------- Page 11 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Overseas Partners I, L.P. I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Cayman Islands ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------------------------------------------- Page 12 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Wexford Capital Limited I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Cayman Islands ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------------------------------------------- Page 13 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. CD Holding Company, LLC I.R.S. Identification Nos. of Above Persons (entities only) (Intentionally Omitted) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 0 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 13,195,478 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 13,195,478 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,195,478 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 41.0% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------------------------------------------- Page 14 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Charles E. Davidson I.R.S. Identification Nos. of Above Persons (entities only) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 14,006,435 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 14,006,435 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 14,006,435 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 43.5% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN ------------------------------------------------------------------------------------------------------------------- Page 15 of 19 Pages CUSIP No. 402635-10-6 ------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Joseph M. Jacobs I.R.S. Identification Nos. of Above Persons (entities only) ------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [x] (See Instructions) (b) [ ] ------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ------------------------------------------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF, PF ------------------------------------------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] ------------------------------------------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States ------------------------------------------------------------------------------------------------------------------- Number of Shares 7. Sole Voting Power 55,398 Beneficially Owned by Each ------------------------------------------------------------------------------- Reporting 8. Shared Voting Power (see Item 5 below) 0 Person With ------------------------------------------------------------------------------- 9. Sole Dispositive Power 55,398 ------------------------------------------------------------------------------- 10. Shared Dispositive Power (see Item 5 below) 0 ------------------------------------------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 55,398 ------------------------------------------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) less than 1% ------------------------------------------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN ------------------------------------------------------------------------------------------------------------------- Page 16 of 19 Pages This Amendment No. 10 to Schedule 13D modifies and supplements the Schedule 13D (the "STATEMENT") initially filed on July 22, 1997, amended and restated in its entirely by Amendment No. 1 to the Statement filed July 30, 1997, and further amended by Amendment No. [sic] 1 to the Statement filed on June 12, 1998, Amendment No. 3 to the Statement filed on January 21, 1999, Amendment No. 4 to the Statement filed October 20, 1999, Amendment No. 5 to the Statement filed on June 27, 2001, Amendment No. 6 to the Statement filed on April 9, 2002, Amendment No. 7 to the Statement filed on April 29, 2002, Amendment No. 8 to the Statement filed on September 28, 2004, and Amendment No. 9 to the Statement filed on March 3, 2005 with respect to the common stock, $0.01 par value per share (the "COMMON STOCK"), of GULFPORT ENERGY CORPORATION, a Delaware corporation (the "COMPANY"). Except to the extent supplemented by the information contained in this Amendment No. 10, the Statement, as amended as provided above, remains in full force and effect. Capitalized terms used herein without definition have the respective meanings ascribed to them in the Statement. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. ------------------------------------- Since the date of the last amendment to the Statement filed as aforesaid, the Company effected a public offering of 6,050,000 shares of Common Stock, in which the Reporting Persons were named as Selling Stockholders with respect to an aggregate of 5,631,011 shares of Common Stock, which Shares were sold at a public offering price of $14.00 per share. As result of the foregoing, none of the Reporting Persons owns beneficially any shares of Common Stock other than Joseph M. Jacobs, who owns less than 0.01%, and CD Holding Company, LLC and Charles E. Davidson, each of whom may be deemed to beneficially own the respective percentages and numbers of outstanding shares of Common Stock set forth below (on the basis of 32,180,326 shares of Common Stock issued and outstanding, which, based upon information and belief, is the number of Shares currently outstanding): 1. CD HOLDING COMPANY, LLC ----------------------- (a) Aggregate number of shares of Common Stock beneficially owned: Percentage: 41.0% (b) 1. Sole power to vote or to direct vote: -0- 2. Shared power to vote or to direct vote: 13,195,478 3. Sole power to dispose or to direct the disposition: -0- 4. Shared power to dispose or to direct the disposition: 13,195,478 (c) Other than as reported above, there were no transactions by CD Holding Company, LLC in connection with the Common Stock during the past 60 days. (d) CD Holding Company, LLC may be deemed to have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of the Common Stock. (e) Not applicable. 2. CHARLES E. DAVIDSON ------------------- (a) Aggregate number of shares of Common Stock beneficially owned: Percentage: 43.5% (b) 1. Sole power to vote or to direct vote: 14,006,435 2. Shared power to vote or to direct vote: 0 3. Sole power to dispose or to direct the disposition: 14,006,435 4. Shared power to dispose or to direct the disposition: 0 (c) Other than as reported above, there were no transactions by Mr. Davidson in connection with the Common Stock during the past 60 days. (d) Mr. Davidson may be deemed to have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of the Common Stock. (e) Not applicable. Charles E. Davidson may, by reason of his status as manager of CD Holding Company, LLC, be deemed to own beneficially the Common Stock of which CD Holding Company, LLC possesses beneficial ownership. * * * * * Page 17 of 19 Pages SIGNATURE After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 3, 2006 WEXFORD CAPITAL LLC By: /s/ Arthur H. Amron ------------------------------- Name: Arthur H. Amron Title: Principal and Secretary WEXFORD SPECTRUM INVESTORS LLC By: /s/ Arthur H. Amron ------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD SPECIAL SITUATIONS 1996, L.P. By: Wexford Advisors LLC, general partner By: /s/ Arthur H. Amron ------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD SPECIAL SITUATIONS 1996 INSTITUTIONAL, L.P. By: Wexford Advisors LLC, general partner By: /s/ Arthur H. Amron -------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD ADVISORS LLC By: /s/ Arthur H. Amron -------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD-EURIS SPECIAL SITUATIONS 1996, L.P. By: Wexford-Euris Advisors LLC, general partner By: /s/ Arthur H. Amron -------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD-EURIS ADVISORS LLC By: /s/ Arthur H. Amron -------------------------------------------------- Name: Arthur H. Amron Title: Vice President Page 18 of 19 Pages WEXFORD SPECIAL SITUATIONS 1996 LIMITED By: /s/ Arthur H. Amron -------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD CAPITAL PARTNERS II, L.P. By: Wexford Capital II, L.P., general partner By: Wexford Capital Corporation, general partner By: /s/ Arthur H. Amron ------------------------------------------------ Name: Arthur H. Amron Title: Vice President WEXFORD CAPITAL CORPORATION By /s/ Arthur H. Amron ------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD OVERSEAS PARTNERS I, L.P. By: Wexford Capital Overseas, L.P., general partner By: Wexford Capital Limited By: /s/ Arthur H. Amron ------------------------------------------------- Name: Arthur H. Amron Title: Vice President WEXFORD CAPITAL LIMITED By: /s/ Arthur H. Amron ------------------------------------------------ Name: Arthur H. Amron Title: Vice President CD HOLDING COMPANY, LLC By: /s/ Charles E. Davidson ------------------------------------------------- Name: Charles E. Davidson Title: Manager /s/ Charles E. Davidson ---------------------------------------------------- CHARLES E. DAVIDSON /s/ Joseph M. Jacobs ---------------------------------------------------- JOSEPH M. JACOBS Page 19 of 19 Pages