Amended Credit Agreement

On July 6, 2009 Gasco entered into the Fourth Amendment to the Company's Credit Agreement with the lenders (the "Lenders") thereunder pursuant to which the Credit Agreement was amended, among other things, to delay the special redetermination of the Company's borrowing base previously scheduled to occur on or about June 30 2009, to on or about August 31, 2009. Should there be a borrowing base deficiency after the special redetermination, the Company will have 30 days to eliminate any such deficiency. The scheduled special redetermination is in addition to the regular redeterminations and special redeterminations available at the request of the Company or the Lenders. The Company's borrowing base of $35 million was unaltered by the Fourth Amendment.

About Gasco Energy

Denver-based Gasco Energy, Inc. is natural gas and petroleum exploitation, development and production company engaged in locating and developing hydrocarbon resources, primarily in the Rocky Mountain region. Gasco's principal business is the acquisition of leasehold interests in petroleum and natural gas rights, either directly or indirectly, and the exploitation and development of properties subject to these leases. Gasco currently focuses its drilling efforts in the Riverbend Project located in the Uinta Basin of northeastern Utah, targeting the Wasatch, Mesaverde, Blackhawk, Mancos, Dakota and Morrison formations. To learn more, visit http://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 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.