Gasco Energy Announces Amended Credit Agreement

DENVER, July 7 /PRNewswire-FirstCall/ -- Gasco Energy (NYSE Amex: GSX) today
announced an amendment to its Credit Agreement led by JPMorgan.

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. 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; fluctuations
in natural gas and oil prices; pipeline constraints; overall demand for
natural gas and oil in the United States; changes in general economic
conditions in the United States; our ability to manage interest rate and
commodity price exposure; changes in the Company's borrowing arrangements; the
condition of credit and capital markets in the United States; and other risks
described under "Risk Factors" in Item 1 of the Company's Annual Report on
Form 10-K for the year ended December 31, 2008 filed with the Securities and
Exchange Commission on March 4, 2009.

Any of these factors could cause our actual results to differ materially from
the results implied by these or any other forward-looking statements made by
us or on our behalf. We cannot assure you that our future results will meet
our expectations. When you consider these forward-looking statements, you
should keep in mind these factors. All subsequent written and oral
forward-looking statements attributable to the Company, or persons acting on
its behalf, are expressly qualified in their entirety by these factors. Our
forward-looking statements speak only as of the date made. The Company
assumes no duty to update or revise its forward-looking statements based on
changes in internal estimates or expectations or otherwise.

SOURCE Gasco Energy, Inc.

Investor Relations of Gasco Energy, Inc., +1-303-483-0044