|Gasco Energy, Inc., incorporated on April 21, 1997, is a natural gas and petroleum exploitation, development and production company engaged in locating and developing hydrocarbon resources, primarily in the Rocky Mountain region. The Company’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. As of December 31, 2009, the Company focused its activities in the Riverbend Project located in the Uinta Basin of northeastern Utah, targeting the Green River, Wasatch, Mesaverde, Blackhawk, Mancos, Dakota and Morrison formations. As of December 31, 2009, it held interests in 282,326 gross acres (228,724 net acres) located in Utah, Wyoming, California and Nevada. As of December 31, 2009, the Company held an interest in 132 gross producing wells (77.6 wells, net to its interest) and three shut-in wells (three net) located on these properties. On February 25, 2010, it completed the acquisition of two wells and certain oil and gas leases (the Petro-Canada Assets) from Petro-Canada Resources (USA) Inc. (Petro-Canada). The Petro-Canada Assets include one producing well, one shut in well and 5,582 gross and net acres located in Utah west of its Gate Canyons operating area. On February 26, 2010, the Company completed the sale of the assets comprising its gathering system and its evaporative facilities, located in Uintah County, Utah to Monarch Natural Gas, LLC.