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<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: normal; TEXT-TRANSFORM: none; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="times new roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>WASHINGTON, D.C. 20549</FONT></B></P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: normal; TEXT-TRANSFORM: none; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="times new roman">FORM 8-K</FONT></B></P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: normal; TEXT-TRANSFORM: none; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="times new roman">CURRENT REPORT</FONT></B></P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: normal; TEXT-TRANSFORM: none; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt; FONT-WEIGHT: normal" lang=EN-US face="times new roman">Pursuant to Section 13 or 15(d) of<BR>the Securities Exchange Act of 1934 </FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Date of Report: February 29, 2012<BR>(Date of earliest event reported)</FONT></B></P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt" align=center><B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.1pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">GATEWAY ENERGY CORPORATION<BR></FONT></B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">(Exact name of registrant as specified in its charter)</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 10pt" face="Times New Roman">Delaware</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 10pt" face="Times New Roman">(State or other jurisdiction</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 10pt" face="Times New Roman">of incorporation or organization)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 10pt" color=black face="Times New Roman">0-6404</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 18pt; LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" face="Times New Roman">(Commission</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 18pt; LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" face="Times New Roman">File Number)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 10pt" face="Times New Roman">44-0651207</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 10pt" face="Times New Roman">(I.R.S. Employer Identification Number)</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt" align=center><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt" align=center><B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">1415 Louisiana, Suite 4100</FONT></B><B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">, Houston, Texas 77001</FONT></B><B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"><BR></FONT></B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">(Address of principal executive offices, including zip code)</FONT></P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt" align=center><B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">(713) 336-0844</FONT></B><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"><BR>(Registrant's telephone number, including area code)</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">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):</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">[&nbsp; ]&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">[&nbsp; ]&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Item 1.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry into
a Material Definitive Agreement.</FONT></B></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">In connection with financing the acquisition of the
pipeline described in Item 8.01 (Other Events), Gateway incurred additional
indebtedness under its Loan Agreement, dated December 7, 2009 (as amended, the
&#8220;Loan Agreement&#8221;), among Gateway, Gateway Pipeline Company (&#8220;GPC&#8221;), Gateway
Offshore Pipeline Company (&#8220;GOPC&#8221;), Gateway Processing Company (&#8220;Gateway
Processing&#8221;), Gateway Energy Marketing Company (&#8220;GEMC&#8221;), Gateway Pipeline USA
Corporation (&#8220;GPUC&#8221;) and Gateway Commerce LLC (together with GPC, GOPC, Gateway
Processing, GEMC and GPUC, the &#8220;Guarantors&#8221;), and Meridian Bank Texas
(&#8220;Meridian&#8221;), as amended April 5, 2011, October 31, 2011 and December 9,
2011.&nbsp; In connection with incurring the additional indebtedness under the
Loan Agreement, Gateway, the Guarantors and Meridian entered into a Fourth
Amendment to Loan Agreement, dated February 29, 2012 (the &#8220;Amendment&#8221;), pursuant
to which:</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Gateway&#8217;s borrowings under the Loan Agreement were
limited solely to a term loan of $2,995,000 (the &#8220;Term Note&#8221;), all of which was
advanced on or before February 29, 2012 (in addition to an outstanding letter of
credit obligation of $137,500);</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Commencing in each calendar quarter ending June 30, 2012,
Gateway is required to make a payment to Meridian to reduce the outstanding
principal balance owing under the Term Note equal to seventy five percent (75%)
of Gateway&#8217;s&nbsp; net cash provided by (used in) operating activities, less
cash used in investing activities (excluding acquisitions and growth projects),
less required monthly payments of principal and interest payments on the Term
Note;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The pipeline acquired from Commerce Pipeline and certain
other collateral was pledged as security for the Term Note;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Gateway is required to maintain a debt to tangible net
worth ratio of 1.90 to 1.00;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Gateway is required to pay a principal and interest
payment of $58,000 per month under the Term Note; and</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 1in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The Term Note has a maturity date of June 30,
2013.</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The description of the Amendment contained in this
Current Report on Form 8-K does not purport to be complete and is qualified in
its entirety by reference to the full text of the Amendment a copy of which is
filed herewith as Exhibit 10.1 and incorporated by reference herein.</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -1in; MARGIN: 0in 0in 0pt 1in"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Item&nbsp;2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of Registrant..</FONT></B></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The disclosure set forth in Item 1.01 is incorporated
into this Item 2.03 by reference.</FONT></P>
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<P style="TEXT-ALIGN: right">2</P></DIV>
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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Item 8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other
Events</FONT></B></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">On February 29, 2012, Gateway Commerce, a wholly owned
subsidiary of Gateway, purchased a natural gas pipeline from Commerce Pipeline,
L.P. (&#8220;Commerce&#8221;).&nbsp; The pipeline is located in Commerce, Texas and delivers
natural gas into an aluminum smelting plant owned by Hydro Aluminum Metal
Products North America.&nbsp; The pipeline and related assets were acquired
pursuant to an Asset Sales Agreement (the &#8220;Agreement&#8221;), dated February 29, 2012,
between Gateway Commerce and Commerce. &nbsp;Pursuant to the Agreement and
subject to the terms contained therein, Gateway Commerce agreed to acquire from
Commerce the pipeline and related assets for $1,000,000 in cash. &nbsp;The
Agreement contained representations, warranties and indemnities that are
customary for transactions of this type.&nbsp; Gateway financed the $1,000,000
purchase price through a combination of cash-on-hand and the incurrence of
additional indebtedness pursuant to the Amendment to the Loan
Agreement.</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">9.01
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Financial Statements and Exhibits</FONT></B></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"><BR>(d)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">10.1&nbsp;&nbsp;&nbsp;&nbsp; Fourth Amendment to Loan
Agreement, dated February 29, 2012, among Gateway Energy Corporation, Gateway
Pipeline Company, Gateway Offshore Pipeline Company, Gateway Processing Company,
Gateway Energy Marketing Company, Gateway Pipeline USA Corporation, Gateway
Commerce LLC and Meridian Bank Texas.</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</FONT></P>
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<P style="TEXT-ALIGN: right">3</P></DIV>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">SIGNATURES</FONT></B></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</FONT></P>
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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt 3in"><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">GATEWAY ENERGY CORPORATION</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -22.3pt; MARGIN: 0in 0in 12pt 238.3pt"><FONT style="LINE-HEIGHT: normal; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">By: </FONT><U><FONT style="LINE-HEIGHT: normal; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">/s/ Frederick M.
Pevow&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></U><FONT style="LINE-HEIGHT: normal; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"><BR>Frederick M. Pevow, Jr., President and <BR>Chief
Executive Officer </FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 18pt; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Date:&nbsp; March 6, 2012</FONT></P>
<P style="TEXT-ALIGN: right">4</P></DIV>
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gateway8k.htm - Generated by SEC Publisher for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: February 29, 2012
(Date of earliest event reported)
GATEWAY ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation or organization)
0-6404
(Commission
File Number)
44-0651207
(I.R.S. Employer Identification Number)
1415 Louisiana, Suite 4100
, Houston, Texas 77001
(Address of principal executive offices, including zip code)
(713) 336-0844
(Registrant's telephone number, including area code)
(Former name or former address if changed since last report)
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 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))
Item 1.01        Entry into
a Material Definitive Agreement.
In connection with financing the acquisition of the
pipeline described in Item 8.01 (Other Events), Gateway incurred additional
indebtedness under its Loan Agreement, dated December 7, 2009 (as amended, the
"Loan Agreement"), among Gateway, Gateway Pipeline Company ("GPC"), Gateway
Offshore Pipeline Company ("GOPC"), Gateway Processing Company ("Gateway
Processing"), Gateway Energy Marketing Company ("GEMC"), Gateway Pipeline USA
Corporation ("GPUC") and Gateway Commerce LLC (together with GPC, GOPC, Gateway
Processing, GEMC and GPUC, the "Guarantors"), and Meridian Bank Texas
("Meridian"), as amended April 5, 2011, October 31, 2011 and December 9,
2011.  In connection with incurring the additional indebtedness under the
Loan Agreement, Gateway, the Guarantors and Meridian entered into a Fourth
Amendment to Loan Agreement, dated February 29, 2012 (the "Amendment"), pursuant
to which:
·
Gateway's borrowings under the Loan Agreement were
limited solely to a term loan of $2,995,000 (the "Term Note"), all of which was
advanced on or before February 29, 2012 (in addition to an outstanding letter of
credit obligation of $137,500);
·
Commencing in each calendar quarter ending June 30, 2012,
Gateway is required to make a payment to Meridian to reduce the outstanding
principal balance owing under the Term Note equal to seventy five percent (75%)
of Gateway's  net cash provided by (used in) operating activities, less
cash used in investing activities (excluding acquisitions and growth projects),
less required monthly payments of principal and interest payments on the Term
Note;
·
The pipeline acquired from Commerce Pipeline and certain
other collateral was pledged as security for the Term Note;
·
Gateway is required to maintain a debt to tangible net
worth ratio of 1.90 to 1.00;
·
Gateway is required to pay a principal and interest
payment of $58,000 per month under the Term Note; and
·
The Term Note has a maturity date of June 30,
2013.
The description of the Amendment contained in this
Current Report on Form 8-K does not purport to be complete and is qualified in
its entirety by reference to the full text of the Amendment a copy of which is
filed herewith as Exhibit 10.1 and incorporated by reference herein.
Item 2.03       
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of Registrant..
The disclosure set forth in Item 1.01 is incorporated
into this Item 2.03 by reference.
2
Item 8.01        Other
Events
On February 29, 2012, Gateway Commerce, a wholly owned
subsidiary of Gateway, purchased a natural gas pipeline from Commerce Pipeline,
L.P. ("Commerce").  The pipeline is located in Commerce, Texas and delivers
natural gas into an aluminum smelting plant owned by Hydro Aluminum Metal
Products North America.  The pipeline and related assets were acquired
pursuant to an Asset Sales Agreement (the "Agreement"), dated February 29, 2012,
between Gateway Commerce and Commerce.  Pursuant to the Agreement and
subject to the terms contained therein, Gateway Commerce agreed to acquire from
Commerce the pipeline and related assets for $1,000,000 in cash.  The
Agreement contained representations, warranties and indemnities that are
customary for transactions of this type.  Gateway financed the $1,000,000
purchase price through a combination of cash-on-hand and the incurrence of
additional indebtedness pursuant to the Amendment to the Loan
Agreement.
9.01
               
Financial Statements and Exhibits
(d)     Exhibits
10.1     Fourth Amendment to Loan
Agreement, dated February 29, 2012, among Gateway Energy Corporation, Gateway
Pipeline Company, Gateway Offshore Pipeline Company, Gateway Processing Company,
Gateway Energy Marketing Company, Gateway Pipeline USA Corporation, Gateway
Commerce LLC and Meridian Bank Texas.
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
GATEWAY ENERGY CORPORATION
By:
/s/ Frederick M.
Pevow
Frederick M. Pevow, Jr., President and
Chief
Executive Officer
Date:  March 6, 2012
4