Wildcat Stocks: Gasco Energy Prices Registered Offering of Common Stock and Warrants

REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
Closed bridge financing for $150,000 and went public in 2011.
Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
Plans to acquire and develop $200 MILLION in proven reserves.

Monday, August 1, 2011

Gasco Energy Prices Registered Offering of Common Stock and Warrants

DENVER, July 29, 2011 /PRNewswire/ -- Gasco Energy, Inc. (NYSE Amex: GSX) ("Gasco") today announced that it has priced an underwritten registered offering of 16,000,000 units at a price of$0.25 per unit, for gross proceeds of $4.0 million. Each unit consists of (i) one share of common stock and (ii) one warrant to purchase 0.71875 of a share of common stock. The shares of common stock and warrants are immediately separable and will be issued separately such that no units will be issued or certificated. The warrants are exercisable immediately upon issuance, having a sixty-month term and an exercise price of $0.35 per share. The net proceeds to Gasco from this offering are expected to be approximately $3.6 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about August 3, 2011, subject to customary closing conditions.

Lazard Capital Markets LLC acted as sole book-running manager for the offering.

Gasco intends to use the net proceeds from this offering for capital expenditures, working capital, acquisitions of oil and natural gas properties, repayment or refinancing of indebtedness, or general corporate purposes.

The securities described above are being offered by Gasco pursuant to a registration statement on Form S-3, together with a base prospectus, previously filed and declared effective by the Securities and Exchange Commission ("SEC"). The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov. Copies of the final prospectus supplement relating to the offering, when available, may be obtained from Lazard Capital Markets LLC, 30 Rockefeller Plaza, 60th Floor, New York, NY, 10020 or via telephone at (800) 542-0970, or from the above-mentioned SEC website.

Source: PR Newswire

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