EXHIBIT 99.1
Gasco
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Energy
For Release at 8:30 AM EDT on July 25, 2007
GASCO ENERGY RESUMES COMPLETION OPERATIONS ON MANCOS TEST
DENVER - (PR Newswire) - July 25, 2007 - Gasco Energy, Inc. (AMEX: GSX) today
announced that it has successfully completed the wellbore remediation process on
the Gasco-operated Federal #14-31 (GSX: 100% WI), a deep gas test drilled to
total depth of 16,763 feet to evaluate the productive potential of the Wasatch,
upper and lower Mesaverde, Blackhawk, Mancos and Dakota formations. The
remediation process fully restored wellbore integrity allowing the Company to
immediately commence completion activities on the four remaining Mancos
intervals identified in open-hole log analysis. The lower-most Mancos interval
was completed prior to commencing the remediation process The remaining
formations, the Wasatch, upper and lower Mesaverde and Blackhawk, are expected
to be completed after production data and reservoir characteristics of the
Mancos zones have been fully evaluated by engineers.
Q207 Results
Gasco is scheduled to announce its second quarter results on August 1, 2007. The
Company will host a conference call on August 2, 2007 at 10:30 AM EDT. Details
are available by clicking on this link:
http://biz.yahoo.com/prnews/070720/laf006.html?.v=101
About Gasco Energy
Gasco Energy, Inc. is a Denver-based natural gas and petroleum exploitation and
development and production company engaged in locating and developing
hydrocarbons resources, primarily in the Rocky Mountain region. 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
Item 1. of the Company's 2006 amended Form 10-K filed with the Securities and
Exchange Commission on April 5, 2007.
Contact for Gasco Energy, Inc.: Investor Relations: 303-483-0044