Exhibit 99.1

Gasco
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Energy

For Immediate Release on Wednesday, February 11, 2004

          Gasco Energy Announces $21.5 Million Equity Private Placement

DENVER - (PR Newswire) - February 11, 2004 - Gasco Energy,  Inc.  (OTCBB:  GASE)
today announced the sale through a private placement of 14,333,334 shares of its
common stock to a group of  accredited  investors at a price of $1.50 per share.
Proceeds to the company,  net of fees and estimated  expenses were  $20,072,000.
There were no warrants or other financial instruments attached to this placement
of common shares. Proceeds will be used for general corporate purposes including
the development and exploitation of Gasco's Riverbend Project in the Uinta Basin
in Uintah County, Utah.

The shares sold in this private  placement  have not been  registered  under the
Securities  Act of 1933  and may not be  offered  or sold in the  United  States
absent registration or an applicable exemption from 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 controls  acreage in the Greater Green River Basin of Wyoming.
To learn more, visit www.gascoenergy.com.

Contact for Gasco Energy, Inc.: Investor Relations: 303-483-0044