DENVER, Feb. 19 /PRNewswire-FirstCall/ -- Gasco Energy, Inc. (OTC Bulletin Board: GASE - news; today provided an interim update on activities on its Riverbend Project in Utah's Uinta Basin.

Riverbend Update

On Monday, February 11, 2002, Gasco began drilling the Federal 23-29 #1 (100% WI) on the company's Riverbend Project in Uintah County, Utah. The well, a Phillips Petroleum (NYSE: P - news) farmout, will test the Wasatch and Mesaverde gas-prone intervals and will be drilled to total depth of 11,700 feet. Drilling is expected to take 25 days and is being drilled under an incentive-based contract with Caza Drilling (Toronto: ESI - news) which rewards the contractor for reduced costs and faster time to total depth.

The Federal 23-29 #1 marks the inaugural well in the recently announced strategic relationship with Halliburton Integrated Solutions, whereby Halliburton (NYSE: HAL - news) will have the option to participate under the terms of the agreement.

Gasco President, Mark Erickson said, ``This well represents a milestone for Gasco for three reasons. First it is the first Gasco-operated well drilled in Utah. Second we are excited to join the 'best in class' drilling and completion engineers from both Caza and Halliburton with our own team of engineers to maximize the success of our Riverbend Project. Finally, we believe that this well will continue our positive momentum in developing proven techniques to commercially exploit this potentially world-class natural gas accumulation underlying our Riverbend acreage.''

About Gasco Energy

Gasco Energy is a Denver-based natural gas and oil exploitation and development company that focuses on natural-gas-rich prospects in the Rocky Mountain area of the United States. The Company currently holds interest in more than 159,000 gross acres in Utah and has an Area of Mutual Interest agreement on 330,000 acres in the Greater Green River Basin of Wyoming. Go to www.gascoenergy.com to learn more about Gasco Energy, Inc.

Forward-looking statements Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995).Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

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