UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 8-K

                                 CURRENT REPORT

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



  Date of Report (Date of Earliest Event Reported): May 17, 2005 (May 17, 2005)



                              GULFWEST ENERGY INC.
               (Exact Name of Registrant as Specified in Charter)



             Texas                       1-12108               87-0444770
-------------------------------   ------------------------  -------------------
(State or Other Jurisdiction of   (Commission File Number)    (IRS Employer
        Incorporation)                                      Identification No.)


          480 N. Sam Houston Parkway E., Suite 300, Houston Texas 77060
                    (Address of Principal Executive Offices)


                                 (281) 820-1919
              (Registrant's telephone number, including area code)
-----------------------------------------------------------------------------

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
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[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))


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Item 2.02         Results of Operations and Financial Condition.

                  On May 17, 2005, GulfWest Energy Inc. issued a press release
announcing financial results for the first quarter of 2005 and containing
selected financial and operational data for the quarter ended March 31, 2005
compared to the quarter ended March 31, 2004. The Company also announced that
management will hold a conference call to discuss the information in the press
release as well as the first quarter results on Wednesday, May 18, 2005, at 9:30
a.m. CST. The press release is included in this report as Exhibit 99.1.

                  The information contained in Exhibit 99.1 is incorporated
herein by reference. The information in this Current Report is being furnished
and shall not be deemed "filed" for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
that Section. The information in this Current Report shall not be incorporated
by reference into any registration statement or other document pursuant to the
Securities Act of 1933, as amended.

Item 9.01         Financial Statements and Exhibits.

(c)           Exhibits


Exhibit Number                   Description
--------------                   -----------
Exhibit 99.1                     Press Release dated May 17, 2005







                                   SIGNATURES

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

                                        GULFWEST ENERGY INC.

Date:    May 17, 2005                   /s/ Allan D. Keel
                                        --------------------------------------
                                        Allan D. Keel
                                        President and Chief Executive Officer






                                  Exhibit Index


Exhibit Number        Description
---------------       ------------
Exhibit 99.1          Press Release dated May 17, 2005