Fuel pump mounted flat ?

will my pump work properly mounted this way? I didn't like how far it hung down mounted the regular way. I will mount the filter under the filler tube hole a little to the left.
http://i645.photobucket.com/albums/uu177/Power-Inc-198/009-3.jpg

When I first got my car I ran a Holley blue pump up side down for a few years and nothing ever happened. Someone saw it like that and said there was a chance that gas could get in to the motor. Maybe yes; maybe no. Being it's a pump delivering fuel under pressure I would think it's OK.