8-K

FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

                                CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                                  May 18, 2001
                Date of Report (Date of earliest event reported)




                              GULFWEST OIL COMPANY
             (Exact name of registrant as specified in its charter)

                                      Texas
                 (State or other jurisdiction of incorporation)

        1-12108                                              87-0444770

 (Commission File Number)                                (IRS Employer
                                                      Identification Number)


         397 N. Sam Houston Parkway E., Suite 375, Houston, Texas 77060
                    (Address of principal executive offices)

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













ITEM 5.  OTHER EVENTS

     GulfWest Oil Company shareholders approved changing the name of the company
from “GulfWest Oil Company” to “GulfWest Energy Inc.” at the
annual  shareholders’  meeting held May 18, 2001.  The name change has been
filed with the Secretary of State of Texas and will take effect immediately.

     The  board  of  directors   had   recommended   the  name  change  to  more
appropriately  reflect  the  expanding  business  of  the  company.   Currently,
GulfWest’s  oil and natural gas reserves  are  comprised of 52% oil and 48%
natural  gas.  The company  plans to continue to expand its role in the domestic
natural  gas  industry  by (i)  acquiring  additional  interests  in natural gas
properties,  (ii)  increasing  the  production  and reserve base of its existing
natural  gas  properties,  and (iii)  acquiring  ownership  of more  natural gas
gathering systems and pipelines.

     The  shareholders  also re-elected the seven incumbent  directors for a one
year term and  approved  increasing  the  number  of  shares  that can be issued
pursuant to the  company's  Employee  Stock  Option Plan from one million to two
million shares.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

c.       Exhibits

         Number     Description
         ------     -----------

         3.1        Certificate of Amendment of Articles of Incorporation filed
                    herewith.

         23.1       News release announcing name change, filed herewith.

EX-2

Form 8-K Exhibit 3.1 FILED In the Office of the Secretary of State of Texas May 21, 2001 Corporations Section CERTIFICATE OF AMENDMENT OF ARTICLES OF INCORPORATION

    GULFWEST OIL COMPANY,  a  corporation  organized  and existing  under an by
virtue of the laws of the  State of Texas  (the  “Corporation”),  does
hereby certify that:

     1. The name of the corporation is GulfWest Oil Company.

     2. The Board of Directors of the  Corporation  at a Meeting of the Board of
Directors  held in accordance  with the  provisions of Article 2.37 of the Texas
Business  Corporation  Act of the State of Texas adopted a resolution  proposing
and declaring advisable the following amendment to the Articles of Incorporation
of the Corporation:

     a. The first paragraph of Article One of the Articles of  Incorporation  of
the Corporation is hereby amended to read in its entirety as follows:

     The name of the corporation is GulfWest Energy Inc.

     3. An Annual Meeting of the Stockholders of the Corporation was held on May
18,  2001,  in  accordance  with the  provisions  of  Article  2.24 of the Texas
Business  Corporation Act of the State of Texas, at which meeting the holders of
more than a majority of the  Corporation's  outstanding  shares of Common  Stock
approved the foregoing amendment to the Corporation's Articles of Incorporation.

     4. The foregoing  amendment to the Corporation's  Articles of Incorporation
was duly  adopted in  accordance  with the  applicable  provisions  of the Texas
Business Corporation Act of the State of Texas.

     5. The number of shares  outstanding  and entitled to vote on the amendment
was 18,445,041.

     6. The number of shares  voted for the  amendment  was  15,080,600  and the
number voted against (or abstaining) was 8,200 shares.

     IN WITNESS  WHEREOF,  the  Corporation  has caused this  certificate  to be
signed by Jim C. Bigham,  its Executive  Vice  President,  this 18th day of May,
2001.



                    By: s/s Jim C. Bigham
                        --- --- -- ------
                        Jim C. Bigham Executive Vice President

EX-1

FOR IMMEDIATE RELEASE GulfWest Oil Company,  397 N. Sam Houston Parkway E.,
Suite  375,  Houston,  Texas  77060  Contact:  Jim  C.  Bigham,  Executive  Vice
President, (281) 820-1919



                        GULFWEST OIL SHAREHOLDERS APPROVE
                      CHANGING NAME TO GULFWEST ENERGY INC.
                     Results of Annual Shareholders’ Meeting

     HOUSTON,  TEXAS,  May  23,  2001 -  GulfWest  Oil  Company  (OTC-BB:  GULF)
announced  today that it  shareholders  have  approved  changing the name of the
company  from   “GulfWest  Oil  Company”   to  “GulfWest   Energy
Inc.”, which will take effect immediately.

     The  board  of  directors   had   recommended   the  name  change  to  more
appropriately  reflect  the  expanding  business  of  the  company.   Currently,
GulfWest’s  oil and natural gas reserves  are  comprised of 52% oil and 48%
natural  gas.  The company  plans to continue to expand its role in the domestic
natural  gas  industry  by (i)  acquiring  additional  interests  in natural gas
properties,  (ii)  increasing  the  production  and reserve base of its existing
natural  gas  properties,  and (iii)  acquiring  ownership  of more  natural gas
gathering systems and pipelines.

     The  company’s  shareholders  approved  the name  change at the annual
shareholders’  meeting held May 18, 2001. The shareholders  also re-elected
the seven  incumbent  directors for a one-year term and approved  increasing the
number of shares that can be issued  pursuant to the  company’s  Employee  Stock
Option Plan from one million to two million shares.

     GulfWest is an independent  oil and gas company  focused on the development
of its producing  properties  and the  acquisition of additional oil and natural
gas assets  with  development  potential.  The  company’s  recent  workover  and
development projects have emphasized natural gas development.

                                  *************

     The matters discussed herein may contain "forward-looking"  statements that
involve  risks and  uncertainties  including,  without  limitation,  competitive
factors in the marketplace.  For further discussion regarding the information in
the press release,  please refer to the Company’s 10-K for December 31, 2000 and
10-Q for March 31, 2001.