SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) OCTOBER 15, 2003
GASCO ENERGY, INC.
(Exact name of registrant as specified in its charter)
NEVADA 0-26321 98-0204105
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
14 INVERNESS DRIVE EAST, BUILDING H, SUITE 236, ENGLEWOOD, COLORADO 80112
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 483-0044
NOT APPLICABLE
(Former name or former address, if changed since last report)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of businesses acquired: Not applicable.
(b) Pro forma financial information: Not applicable.
(c) Exhibits:
REGULATION
S-K NUMBER DOCUMENT
99.1 Press release dated October 15, 2003
ITEM 9. REGULATION FD DISCLOSURE
Pursuant to General Instruction F., the registrant incorporates by
reference the information contained in the document filed as Exhibit
99.1 to this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GASCO ENERGY, INC.
October 15, 2003 By: /s/ W. KING GRANT
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W. King Grant
Chief Financial Officer
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EXHIBIT 99.1
PRESS RELEASE DATED OCTOBER 15, 2003
GASCO
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ENERGY
NEWS RELEASE / FOR RELEASE AT XXX AM EDT, WEDNESDAY, OCTOBER 15, 2003
GASCO ANNOUNCES $2.5 MILLION PRIVATE PLACEMENT
OF 8% CONVERTIBLE DEBENTURES
DENVER - (PR Newswire) - October 15, 2003 - Gasco Energy, Inc. (OTCBB: GASE)
today announced the closing of its sale of $2.5 million of 8% Convertible
Debentures in a private placement. Proceeds will be used to accelerate the
development and exploitation of its core-area Riverbend Project in the Uinta
Basin in Utah and for ongoing operations
Specifically, proceeds will in part be applied to Gasco's share of costs to
complete two shut-in natural gas wells, the Lytham Federal 22-22 and the Federal
32-31. In addition, Gasco will contribute its share of recompletion costs on two
additional wells, the Federal 42-29 and the Federal 23-21. All activity is
concentrated on Gasco's Riverbend project in the Uinta Basin. Further
information about the completion plans will be forthcoming.
THE $2.5 MILLION 8% CONVERTIBLE DEBENTURES INCLUDE THE FOLLOWING TERMS:
o Interest rate is 8% per annum payable monthly.
o Monthly principal payments of $37,500 begin in the fourth quarter of 2006.
o Maturity date is October 15, 2008.
o Payment is secured by the producing and completed wellbores that Gasco
develops using this financing.
o Convertible Debentures are convertible into 4,166,667 of Gasco common
shares at any time at the holder's election. The conversion price is
$0.60 per common share.
o The holders have the right to designate a single nominee to Gasco's Board
of Directors. Mr. John Schmit, Vice President of Investments for RENN
Capital Group, Inc., joins the Board of Gasco, effective immediately.
The sale of the Convertible Debentures was not registered under the Securities
Act of 1933. The Convertible Debentures may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements.
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.
Contact for Gasco Energy, Inc.: Investor Relations: 800-645-9254
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