News Release
For Release at 8:00 a.m. Eastern Time


            GASCO TO COMPLETE FIRST THREE WELLS IN RIVERBEND PROJECT

DENVER - (PR Newswire) - June 5, 2002 - Gasco Energy,  Inc. (OTCBB:  GASE) today
announced  plans to complete its first two wells and  re-stimulate an additional
well on its Uinta Basin  acreage.  The wells are part of a previously  announced
strategic relationship with Halliburton Energy Services.  Under the terms of the
agreement,  Halliburton's  Integrated  Solutions  Group  will  team  with  Gasco
engineers to provide completion  services for a 10-well pilot program in Gasco's
Riverbend Project.

Two of the wells to be completed  have been  drilled  since the  agreement  with
Halliburton  was  signed  in  February  2002.   Those  two  wells,  the  Federal
#23-29-9-19 and the Federal  #42-29-9-19  were drilled to  approximately  10,600
feet and 11,700  feet,  respectively  and both have  indicated  net pay from the
Wasatch and the Mesaverde formations. Halliburton's completion expertise will be
employed to enhance the production  potential of these wells, each of which will
each require between eight and 10 fracture  stimulation jobs. Surface facilities
are under  construction  and both of the wells will be  connected to sales lines
before the frac jobs are initiated.

The third well,  the Alger Pass #1, was  acquired  earlier  this year  through a
property exchange with El Paso Corporation.  The Alger Pass #1 is producing from
the  Mesaverde   Formation  and  is  already   flowing  to  sales.  It  will  be
re-stimulated  to  enhance  production  with  one  or  two  additional  fracture
stimulation jobs utilizing Halliburton's state-of-the-art frac technology.

Mark Erickson,  Gasco President and CEO, said, "We are excited about the initial
success we have  achieved  with this  project.  We have more than 115,000  gross
acres in the Uinta  Basin and are  pursuing  several  strategies  to develop our
acreage.  This confirms the quality of our acreage  position and the opportunity
it represents."

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.

Contact for Gasco Energy, Inc.:

Investor Relations: 800-645-9254