............and this is pretty good news......

Gasco Energy Announces $40 Million Convertible Senior Note Offering
Thursday October 14, 7:01 am ET

DENVER, Oct. 14 /PRNewswire-FirstCall/ -- Gasco Energy, Inc. (OTC Bulletin Board: GASE - News), an acquirer and exploiter of petroleum and natural gas properties in the United States, today announced that it proposes to make a private offering of $40 million aggregate principal amount of Convertible Senior Notes due 2011. The initial purchasers will also have a 30-day option to purchase up to an additional $10 million of such notes. Net proceeds from the private offering will be used to fund capital expenditures to develop oil and gas properties, working capital and general corporate purposes, which may include future acquisitions of interests in oil and gas properties.

The offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933. The notes will be convertible into Gasco Energy common stock, subject to certain conditions, at a specified conversion price, which is subject to certain adjustments. The Company will have a call option, pursuant to which it may redeem the securities, in part or in whole, on or after October 10, 2009, at 100% of the principal amount if the closing price of the common stock exceeds 130% of the conversion price, in accordance with conditions specified in the offering memorandum.

Offers and sales of the notes will be made only in the United States to qualified institutional buyers in transactions exempt from the registration requirements of the Securities Act of 1933, as amended. Neither the notes nor the shares of the Company's common stock into which they will be convertible have been registered under the Securities Act of 1933, as amended, or any state securities laws, and they may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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Gasco Energy Provides Riverbend Project Activity Update
Monday October 4, 9:02 am ET

DENVER, Oct. 4 /PRNewswire-FirstCall/ -- Gasco Energy, Inc. (OTC Bulletin Board: GASE - News) today provided an interim oil and gas activities and operational update on its Riverbend Project in Utah's Uinta Basin.

Drilling Activity

In September, Gasco ran pipe on two wells in the Riverbend area. One well tested the Mesaverde and Wasatch formations and the other tested the Blackhawk Formation. As a result Gasco now has three wells awaiting completion in the Riverbend area. Year to date, Gasco has drilled eight gross wells, five of which have been completed and are flowing to sales.

The Company is also currently drilling its ninth and tenth wells of this fiscal year. One of these wells is located in the southern part of the Riverbend area and the second is located to the west in the West Desert area. Both wells will test the Wasatch, Mesaverde and Blackhawk formations.

Production

Cumulative monthly production for September 2004 was 150.6 million cubic feet equivalent (MMcfe) gross, or 40.6 MMcfe net. This is a 13.2% percent decrease from August's cumulative gross production of 173.5 MMcfe.

Cumulative net production for third quarter 2004 was 127.6 MMcfe. This represents a 100% increase in net production over the same period in 2003 and a 2.0% decrease over the second quarter 2004

September's decline in production is attributed to periodic well shut-ins and well completion delays associated with the construction of the Company's Riverbend gathering system and to normal production decline. The construction project is nearing completion. Gasco is also performing routine well maintenance and workovers in advance of anticipated higher demand for natural gas associated with the winter heating season.

Management Comment

Commenting on the Riverbend Project, Gasco CEO and President, Mark Erickson said: "We continue to be encouraged with the potential of the Blackhawk Formation and are increasing activity targeting this objective. It is our belief that we are validating the geology while we continue to improve drilling phases of the project. Now additional focus is on completion and production optimization as we analyze longer-term production results."

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