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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:15.0pt;">UNITED STATES </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:15.0pt;">SECURITIES AND EXCHANGE COMMISSION </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Washington, D.C.
20549 </font></b></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:15.0pt;">Form 8-K </font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">CURRENT REPORT </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant to
Section 13 or 15(d) of The Securities Exchange Act of 1934 </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Date of Report (Date of earliest event reported):
October 11, 2012 </font></b></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:20.0pt;">Gateway Energy Corporation</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(Exact name of registrant as specified in its charter) </font></b></p>

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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Delaware</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">000-06404</font></b></p>
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 <td valign=bottom width=2% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">44-0651207</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(State or other jurisdiction</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">of incorporation)</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(Commission</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.75pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">File Number)</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(I.R.S. Employer</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.75pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">Identification No.)</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">1415 Louisiana Street, Suite 4100 </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.75pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Houston, Texas</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">77002</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(Address of principal executive offices)</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:7.0pt;">(Zip Code)</font></b></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(713) 336-0844 </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">(Registrant&#8217;s
telephone number, including area code) </font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">N/A &nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">(Former name or former address, if changed since last
report) </font></b></p>

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<p align=center style="border:none;margin:0in;margin-bottom:1.5pt;padding:0in;text-align:center;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;margin-top:9.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">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>

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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=96% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
  </td>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b)) </font></p>
  </td>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;"><font face=wingdings style="font-size:9.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=96% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c)) </font></p>
  </td>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

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<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 8.01 Other Events.</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:17.25pt;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">On October 11, 2012, the board of directors of Gateway Energy
Corporation, a Delaware corporation (the &#8220;Company&#8221;) formed two special
committees consisting solely of independent directors.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The first special committee consists of David F. Huff, who
was appointed as the chairman of the special committee, John O. Niemann, Jr.
and John A. Raasch (the &#8220;First Special Committee&#8221;).&#160; The First Special
Committee is empowered to consider a proposal from the Company&#8217;s President and
Chief Executive Officer, Frederick M. Pevow, Jr., for a sale of certain of the
Company&#8217;s assets to Mr. Pevow (the &#8220;Asset Sale&#8221;).&#160; Mr. Pevow has proposed the
Asset Sale in order to enable the Company to retire substantially all of its
bank indebtedness with Meridian Bank (&#8220;Meridian&#8221;). As of September 30, 2012 the
Company was not in compliance with certain financial covenants contained in its
loan agreement with Meridian. The Asset Sale would be part of a prospective
agreement with Meridian to amend its covenants and principal amortization
requirements. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">The second special committee consists of John A. Raasch and
Perin Greg deGeurin (the &#8220;Second Special Committee&#8221;).&#160; The Second Special
Committee was formed to explore and evaluate alternatives available to reduce
the cost burdens of being a publicly traded company, including whether to
terminate its registration under the Securities Exchange Act of 1934, and to
evaluate other alternatives, including conversion into a limited liability
company, which would provide the Company with greater access to capital in
order to meet its present and future business needs.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>





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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">SIGNATURE</FONT></B></P>

<P style="TEXT-INDENT: 17.25pt; MARGIN: 9pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">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. </FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Gateway Energy Corporation</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Dated: October 16, 2012</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Frederick M. Pevow, Jr.</FONT></B></P>

   <P style="MARGIN: 0in 0in 0.75pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">President and Chief Executive Officer</FONT></B></P>

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form8-kspecialcommitteesgate.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 (Date of earliest event reported):
October 11, 2012
Gateway Energy Corporation
(Exact name of registrant as specified in its charter)
Delaware
000-06404
44-0651207
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
1415 Louisiana Street, Suite 4100
Houston, Texas
77002
(Address of principal executive offices)
(Zip Code)
(713) 336-0844
(Registrant's
telephone number, including area code)
N/A
(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))
1
Item 8.01 Other Events.
On October 11, 2012, the board of directors of Gateway Energy
Corporation, a Delaware corporation (the "Company") formed two special
committees consisting solely of independent directors.
The first special committee consists of David F. Huff, who
was appointed as the chairman of the special committee, John O. Niemann, Jr.
and John A. Raasch (the "First Special Committee").  The First Special
Committee is empowered to consider a proposal from the Company's President and
Chief Executive Officer, Frederick M. Pevow, Jr., for a sale of certain of the
Company's assets to Mr. Pevow (the "Asset Sale").  Mr. Pevow has proposed the
Asset Sale in order to enable the Company to retire substantially all of its
bank indebtedness with Meridian Bank ("Meridian"). As of September 30, 2012 the
Company was not in compliance with certain financial covenants contained in its
loan agreement with Meridian. The Asset Sale would be part of a prospective
agreement with Meridian to amend its covenants and principal amortization
requirements.
The second special committee consists of John A. Raasch and
Perin Greg deGeurin (the "Second Special Committee").  The Second Special
Committee was formed to explore and evaluate alternatives available to reduce
the cost burdens of being a publicly traded company, including whether to
terminate its registration under the Securities Exchange Act of 1934, and to
evaluate other alternatives, including conversion into a limited liability
company, which would provide the Company with greater access to capital in
order to meet its present and future business needs.
2
SIGNATURE
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.
Gateway Energy Corporation
Dated: October 16, 2012
/s/ Frederick M. Pevow, Jr.
Frederick M. Pevow, Jr.
President and Chief Executive Officer
3