Gasco Presents at The Oil and Gas Conference

August 3, 2001 - Gasco Energy, Inc. (OTC BB: GASE), ) - presented the Gasco story today at the Oil and Gas Conference in Denver. More than 700 investment professionals and industry executives attended this four-day event.

"We were pleased to be included in this premier energy investment conference," said Mark Erickson, Gasco President and CEO. "With more than 60 companies presenting and 700 registrants, including portfolio managers, equity analysts and investment bankers, it was a great first opportunity for these key professionals to know more about our operations in Utah and meet the Gasco management team." Investors unable to attend the conference can listen to the Company's presentation at http://www.theoilandgasconference.com beginning Friday, August 3 and view the slides used at the conference on the Company Website at http://www.gascoenergy.com.

Gasco Energy has a significant acreage position in its Riverbend Project, in the Uinta Basin, Utah. Based on data from the National Petroleum Counsel, the Uinta Basin continues to hold the area's largest hydrocarbon resource potential from surface to 15,000 feet. One of the few basins in North America with significant remaining gas reserves, the basin has already produced one trillion cubic feet (Tcf) of gas from approximately 2,100 wells at depths ranging from 5,000 to 14,000 feet. The Company has interests (45% average working interest) in over 135,000 gross acres, with most of the acreage accumulated prior to the recent industry focus in the Uinta Basin. The project is regionally extensive and covers large areas of potential basin-centered gas accumulations.

"Our acreage position was largely in place before the industry's push into the basin, and we're looking forward to a significant drilling program," Erickson continued. "Gasco's agreement with Phillips Petroleum (NYSE: P) has resulted in one well waiting on pipe, a second drilled and cased, and a third drilling ahead. Drilling results to date are certainly in line with our expectations. The first well appears to have found a minimum of two billion cubic feet of gross natural reserves." These results will begin to be confirmed in the fourth quarter when the Company expects these wells to be flowing into pipelines. Gasco's goal of increasing shareholder value through the drill bit was accelerated by a recent $19 million equity funding. As part of its drilling program, Gasco has staked eight new drilling locations within the Riverbend Project. Pending approval of these locations by the Bureau of Land Management, the Company intends to drill these wells this year.

"We certainly had good news to share at the Conference, " concluded Erickson. "We have an excellent management and technical team in place, we have a significant acreage position in a proven gas-prolific basin, and we have a capital base from which to grow the Company. We were pleased with the opportunity to share the Gasco story at The Oil & Gas Conference."

About Gasco Energy

Gasco Energy is a Denver based natural gas and oil exploration and
development company that focuses in the Rocky Mountain area of the United States. The Company currently holds interests in properties located in the Uinta Basin of northeastern Utah, which are being developed pursuant to an agreement with Phillips Petroleum.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities 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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