EXHIBIT 99.1

Gasco
- ------
Energy



For Release at 8:00 AM EST on Wednesday, February 6, 2008

     Gasco Energy Announces Year-End Proved Reserves and 2008 CAPEX Budget;
                    162% Year-Over-Year Proved Reserve Growth

DENVER -  February  6, 2008 - Gasco  Energy  (AMEX:  GSX) today  announced  2007
year-end  proved  reserves of 110.7 billion cubic feet of natural gas equivalent
(Bcfe),  comprised  of 104.3 Bcf of natural  gas and 1,071  thousand  barrels of
liquids.  Gasco's  total  proved  reserves  grew by 162%  over  year-end  2006's
estimated  total of 42.2 Bcfe. The company's  reserve mix is 94% natural gas and
6%  liquid  hydrocarbons.   Liquids  reserves  include  condensate.  The  proved
developed  to  proved  undeveloped   composition  is  approximately  50%  proved
developed.

For 2007, Gasco replaced 482% of production  exclusive of price-related and well
performance  revisions.  Gasco increased proved developed  reserves by 34% to 55
Bcfe.  Extensions and discoveries from drilling added 24.8 Bcfe, while revisions
attributed to a combination of well performance and improved  commodity  prices,
added 38.7 Bcfe. The closing of the fourth quarter 2007 Brek Energy  acquisition
added approximately 10 Bcfe of proved developed reserves. In accordance with SEC
guidelines,  reserve  estimates do not include any probable or possible reserves
which may exist for Gasco's properties.

Gasco's  estimated,  pre-tax  future net cash flows  discounted at 10% (commonly
known as the SEC  PV-10  figure)  for  proved  reserves  at  year-end  is $161.8
million.  The 2007 PV-10 calculation used net year-end commodity prices of $6.53
per Mcf of natural  gas and $73.95 per  barrel of crude oil.  This  compares  to
commodity  prices of $4.47 per Mcf of natural gas and $43.21 per barrel of crude
oil at year-end 2006. By way of  comparison,  the company's 2006 SEC PV-10 value
was $63.2 million.

All of the  reserves  valued in the  report are  located  in  Gasco's  Riverbend
Project  area in Carbon,  Duchesne,  and Uintah  Counties in Utah's Uinta Basin.
Reserve   estimates  are   engineered  by  independent   reservoir   engineering
consultants, Netherland, Sewell & Associates, Inc. and conform to the definition
as set  forth  in the SEC  Regulation  S-X Part  210.4-10  (a) as  clarified  by
subsequent Commission Staff Accounting  bulletins.  The proved reserves are also
in  accordance  with  Financial  Accounting  Standards  Board  Statement  No. 69
requirements.

2008 Initial Capital Expenditure Budget

Gasco also today  announced  that its Board of Directors has approved an initial
2008 capital expenditure budget (Capex) of $32 million. The program includes the
drilling and completion of  approximately  24 gross (eight net) wells on Gasco's
Riverbend  Project  located in the Uinta Basin of Utah. The wells in the program
will be drilled to develop the natural-gas-bearing upper and middle Mancos shale
intervals and  associated  uphole pay zones in each  wellbore.  The Capex budget
does not include possible acquisitions, but may include installation of pipeline
infrastructure,  distribution  facilities  and certain  geophysical  operations.
Gasco intends to fund the budget  primarily  from cash flow from  operations and
borrowings  under the company's  $250 million  reserve-based  revolving  line of
credit  facility  with a borrowing  base of $47 million of which $12 million was
drawn at 9/30/07.  The borrowing base will  redetermined  based on year-end 2007
proven reserves.



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Reserves Summary at December 31, 2007
- --------------------------- -------------------------------------- ---------------------------------------------------
         Category                        Net Reserves                                   Value ($)
- --------------------------- -------------------------------------- ---------------------------------------------------
                                  Gas                Oil
                                 (Mcf)               (Bbl)             Future Net Revenue                 SEC PV-10
- --------------------------- ---------------- --------------------- ----------------------- ---------------------------

Proved Developed
- --------------------------- ---------------- --------------------- ----------------------- ---------------------------
                                                                                              
  Producing                      35,230,976               579,706            $181,993,100                 $93,310,800
- --------------------------- ---------------- --------------------- ----------------------- ---------------------------
  Non-Producing                  15,589,647               115,313             $84,080,500                 $41,793,300
- --------------------------- ---------------- --------------------- ----------------------- ---------------------------
Proved Undeveloped               53,517,715               375,783            $155,013,300                 $26,738,800
                                 ----------               -------            ------------                 -----------
- --------------------------- ---------------- --------------------- ----------------------- ---------------------------
     Total Proved               104,338,338              1,070,802           $ 421,086,900               $161,842,900
                                ===========             =========         ==================          ================
- --------------------------- ---------------- --------------------- ----------------------- ---------------------------
- ----------------------------------------------------------------------------------------------------------------------

Reflects commodity prices of $6.53 Mcf of natural gas and $73.95 per Bbl of liquids as of December 31, 2007.
- ----------------------------------------------------------------------------------------------------------------------





- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
Reserve Reconciliation                                    Gas                  Oil                Equivalents
                                                          Mcf                  Bbl                   Mcfe
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------

- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
                                                                                               
Balance, December 31, 2006                                39,977,000             371,000                42,203,000
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
 Extensions and discoveries                               23,854,007             160,302                24,815,816
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
 Revisions of previous estimates                          35,608,302             516,921                38,709,828
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
 Sales of reserves in place                                 (681,007)             (5,302)                 (712,816)
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
 Purchases of reserves in place                             9,592,014              69,335                10,008,024
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
 Production                                               (4,011,978)            (41,454)               (4,260,702)
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
Balance, December 31, 2007                               104,338,338            1,070,802               110,763,150
                                                         ===========            ==========              ===========
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------
Proved Developed Reserves                                 50,821,000             696,000                54,997,000
- ----------------------------------------------- --- ----------------- --- --------------- -- ----------------------




- ----------------------- ------------- ----------------- ------------------- -----------

                                               2007                 2006
                                              Proved               Proved
                              % of           Reserves             Reserves         %
       Category              Reserves          (Mcfe)              (Mcfe)         Chg.
- ----------------------- ------------- ----------------- ------------------- -----------
                                                                     
Proved
Developed
Producing                        35%        38,709,212          34,323,389         13%
- ----------------------- ------------- ----------------- ------------------- -----------
Proved Developed
Non-Producing                    15%        16,281,525           6,718,061        142%
- ----------------------- ------------- ----------------- ------------------- -----------
Proved Undeveloped               50%        55,772,413           1,158,000      4,716%
                                 ---        ----------           ---------      ------
Total                           100%       110,763,150          42,199,450        162%
                                ====       ===========          ==========        ====
- ----------------------- ------------- ----------------- ------------------- -----------




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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.


Definition - Reserves
Reserves are those quantities of crude oil, natural gas, and natural gas liquids
that are anticipated to be commercially  recovered from known accumulations from
a given date forward.  Reserve estimates involve varying degrees of uncertainty,
depending  largely on the amount of reliable  geological  and  engineering  data
available at the time of the estimate and the  interpretation  of the data.  The
relative degree of uncertainty can be conveyed by broadly placing  reserves into
one of two categories -- proved or unproved. Two basic methods are commonly used
by industry to prepare reserve  estimates -- the deterministic and probabilistic
methods.  The  deterministic  method  yields a single best  estimate of reserves
based on known  geological,  engineering  and economic data.  The  probabilistic
method uses known geological,  engineering and economic data to generate a range
of estimated reserve quantities and their associated probabilities. Each reserve
classification gives an indication of the probability of recovery.


Definition - Proved Reserves
Proved reserves are those  quantities of crude oil, natural gas, and natural gas
liquids which  geological  and  engineering  data  demonstrate  with  reasonable
certainty to be recoverable in future years from known reservoirs under existing
economic and operating  conditions.  Proved  developed  reserves  include proved
developed producing reserves and proved developed behind-pipe  reserves.  Proved
developed  producing  reserves are only those reserves  expected to be recovered
from  existing   completion   intervals  in  existing  wells.  Proved  developed
behind-pipe  reserves are those reserves  expected to be recovered from existing
wells where a relatively minor capital expenditure is required for recompletion.
Proved undeveloped reserves are those reserves expected to be recovered from new
wells on  undrilled  acreage or from  existing  wells where a  relatively  major
expenditure is required for recompletion.


Definition - Unproved Reserves
Unproved  reserves  are  considered  less  certain to be  recovered  than proved
reserves.   Estimates  of  unproved   reserves  are  based  on  geologic  and/or
engineering  data  similar  to  that  used  to  estimate  proved  reserves,  but
technical,  contractual,  economic  considerations  and/or  SEC,  state or other
regulations  preclude such reserves  from being  classified as proved.  Unproved
reserves  may be further  sub-classified  as  probable  and  possible  to denote
progressively increasing uncertainty of recoverability.


Importantly,   estimation  of  unproved  reserves  may  assume  future  economic
conditions  different  than those  prevailing at the time of the  estimate.  The
effect of possible future  improvements in economic conditions and technological
developments can be expressed by allocating  appropriate  quantities of reserves
to the probable and possible classifications.


Definition - Probable Reserves
Probable   reserves  are  estimates  of  unproved  reserves  which  analysis  of
geological  and  engineering  data  suggests  are  more  likely  than  not to be
recoverable.  For estimates of probable reserves based on probabilistic methods,
there  should be at least a 50%  probability  that the  quantities  of  reserves
actually  recoverable  will equal or exceed the sum of the estimated proved plus
probable reserves.


Probable reserves may include:

     1.   reserves in formations  known to be productive  where SEC  regulations
          limit  recognition of proved reserves to  direct-offset  locations one
          legal spacing-unit away from a producing well;
     2.   reserves  anticipated to be proved by normal  step-out  drilling where
          subsurface control is currently  inadequate to classify these reserves
          as proved;
     3.   reserves in formations that appear to be productive  based on well-log
          characteristics  but  lack  core  data or  other  definitive  tests to
          indicate productive potential and which are not analogous to producing
          or proved reserves in the area;
     4.   incremental  reserves  attributable to infill drilling that could have
          been  classified  as  proved  if  closer  statutory  spacing  had been
          approved at the time of the estimate;
     5.   reserves  attributable  to improved  recovery  methods  that have been
          established by repeated commercially successful applications where:

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            a. a project or pilot is planned but not in operation; and
            b. rock, fluid and reservoir characteristics appear favorable for
               commercial application;
     6.   reserves in an area of the formation that appears to be separated from
          the  proved  area  by  faulting  and  where  geologic   interpretation
          indicates that the area is structurally higher than the proved area;
     7.   reserves  attributable to future  workover,  treatment,  re-treatment,
          change  of  equipment,  or other  mechanical  procedures,  where  such
          mechanical  procedure  has not been proved  successful  in wells which
          exhibit similar behavior in analogous reservoirs; and/or
     8.   incremental   reserves  in  proved  reservoirs  where  an  alternative
          interpretation  of  performance  or  volumetric  data  indicates  more
          reserves are present than can be classified as proved.


Definition - Possible Reserves
Possible   reserves  are  estimates  of  unproved  reserves  which  analysis  of
geological  and  engineering  data suggests are less likely to be recovered than
probable  reserves.  For estimates of possible  reserves based on  probabilistic
methods,  there  should be at least a 10%  probability  that the  quantities  of
reserves actually recovered will equal or exceed the sum of the estimated proved
plus probable plus possible reserves.


Possible reserves may include:

     1.   reserves which,  based on geological  interpretations,  could possibly
          extend beyond areas classified as probable;
     2.   reserves in  formations  that appear to be petroleum  bearing based on
          log and core analysis but may not be productive at commercial rates;
     3.   incremental reserves attributed to infill drilling that are subject to
          technical uncertainty;
     4.   reserves attributed to improved recovery methods where:
          a.   a project or pilot is planned but not in operation; and
          b.   rock, fluid and reservoir  characteristics are such that there is
               a reasonable doubt that the project will be commercial; and/or 5.
               reserves in an area of the formation that appears to be separated
               from  the  proved   area  by   faulting   and  where   geological
               interpretation  indicates the area is structurally lower than the
               proved area.

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 Gasco'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 Gasco,  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 Gasco'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  Gasco  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



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