GASCO Provides Riverbend Project Operations Update

DENVER, June 27 /PRNewswire-FirstCall/ -- Gasco Energy, Inc. (OTC Bulletin Board: GASE - News) today provided an interim operations update on four wells on its Riverbend Project in Utah's Uinta Basin.

Riverbend Project Update

The Gasco-operated Federal #42-29 (approximately 40% working interest) reached total depth of 11,770 feet and encountered 27 feet of net Wasatch pay and 270 feet of net pay in the deeper Mesaverde Formation. Gasco expects to begin completion operations in mid-July and continue into August. Company engineers are planning 10 completion intervals, pumping approximately 2 million pounds of proppant. Natural gas is expected to flow into the sales line in late July.

The Gasco-operated Federal #23-29 (25% working interest) reached total depth of 10,660 feet and encountered 52 feet of net Wasatch pay and 89 feet of net Mesaverde pay despite being halted 1,000 feet short of planned total depth due to mechanical difficulties with the surface casing. Completion operations began in early June with the first frac stage which included 14 feet of net pay. Gas from this interval began flowing into the sales line on June 8 at a sustained rate of 250 thousand cubic feet per day (Mcf/d) and three barrels of condensate per day. The second frac stage included an additional 12 feet of net pay, and underwent fracture stimulation on June 24. The well is currently flowing back the second frac load. Gasco is planning five additional frac stages in this wellbore.

The Federal #23-12, a non-operated well (20% working interest), reached total depth of 11,886 feet and encountered 127 feet of net pay in the Mesaverde Formation. The Company did not expect Wasatch pay and none was found. Two zones were completed which include 36 feet of net pay at rates flowing between 575 Mcf/d and 1,200 Mcf/d during initial testing. Two additional completion intervals are planned for the 23-12.

The Alger Pass Unit #1 (35% working interest) encountered 84 feet of net pay in the Upper Mesaverde with a total depth of 9,375 feet. The well was drilled in 1987 and originally fractured utilizing a carbon dioxide stimulation technique that yielded typically poor results. Gasco plans two modern frac stimulation treatments beginning immediately with natural gas production sales beginning in early July. This well was acquired in a previously announced El Paso acreage swap.

Management Comments

"The early results from this group of completions is encouraging," said Mark Erickson, Gasco's President and CEO. "These wells are meeting our expectations and results continue to validate our geologic model."

Commenting on the Riverbend results, Mike Decker, Gasco's COO, said, "We believe we have identified a tremendous resource. Completion technology and its implementation are the keys to commerciality. I'm excited to be implementing our completion ideas and look forward to reporting more results from our operations."

About Gasco Energy

Gasco Energy, Inc. 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 is active in the Uinta Basin in Utah and in the Greater Green River Basin of Wyoming. To learn more, visit www.gascoenergy.com .

Forward-looking statements

Certain statements set forth in this press release relate to management's future plans, objectives and expectations. Such statements are forward-looking within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release, including, without limitation, statements regarding the Company's future financial position, potential resources, business strategy, budgets, projected costs and plans and objectives of management for future operations, are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "project," "estimate," "anticipate," "believe," or "continue" or the negative thereof or similar terminology. Although any forward-looking statements contained in this press release are to the knowledge or in the judgment of the officers and directors of the Company, believed to be reasonable, there can be no assurances that any of these expectations will prove correct or that any of the actions that are planned will be taken. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual performance and financial results in future periods to differ materially from any projection, estimate or forecasted result. Some of the key factors that may cause actual results to vary from those the Company expects include inherent uncertainties in interpreting engineering and reserve or production data; operating hazards; delays or cancellations of drilling operations because of weather and other natural and economic forces; fluctuations in oil and natural gas prices in response to changes in supply; competition from other companies with greater resources; environmental and other government regulations; defects in title to properties; increases in the Company's cost of borrowing or inability or unavailability of capital resources to fund capital expenditures; and other risks described under "Risk Factors" in Part I, Item 1 of the Company's latest Annual Report on Form 10-K filed with the Securities and Exchange Commission.

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