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8-K - FORM 8-K - GASCO ENERGY INC | d77988e8vk.htm |
Exhibit 99.1
For Release at 8:00 AM EST on Monday, November 22, 2010
Gasco Energy Regains Compliance with
NYSE Amex Continued Listing Standards
NYSE Amex Continued Listing Standards
DENVER, November 22, 2010 /PRNewswire-FirstCall/ Gasco Energy (NYSE Amex: GSX) today
announced that on November 19, 2010 it received notice that it has resolved its NYSE Amex continued
listing deficiencies and is now in compliance with all NYSE Amex continued listing standards.
Gascos regaining of compliance is based upon an NYSE Amex review of publicly available
information. Specifically, the Company has resolved the continued listing deficiency with respect
to Section 1003(a)(iii) of the NYSE Amex Company Guide, with respect to stockholders equity
requirements as referenced in the NYSE Amexs notice dated June 25, 2009. The November 19, 2010
notice also stated that, as is the case for all listed issuers, Gascos continued listing
eligibility will be assessed on an ongoing basis. Further, Gasco has become subject to the
provisions of Section 1009(h) of the NYSE Amex Company Guide, which may be accessed at
www.nyse.com/regulation.
About Gasco Energy
Denver-based Gasco Energy, Inc. is a natural gas and petroleum exploitation, development and
production company engaged in locating and developing hydrocarbon resources, primarily in the Rocky
Mountain region. Gascos 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.
Contact for Gasco Energy, Inc.: Investor Relations 303-483-0044
Forward-looking Statements
Certain statements set forth in this press release relate to managements 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 Gascos 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 Gascos 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 Gascos 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;
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changes in general
economic conditions in the United States; Gascos ability to manage interest rate and commodity
price exposure; changes in Gascos borrowing arrangements; the condition of credit and capital
markets in the United States; and other risks described under (1) Part I, Item 1A Risk Factors,
Item 7Managements Discussion and Analysis of Financial Condition and Results of Operations,
Item 7AQuantitative and Qualitative Disclosure About Market Risk and elsewhere in Gascos
Annual Report on Form
10-K for the year ended December 31, 2009 filed with the SEC on March 3, 2010, and (2) Gascos
reports and registration statements filed from time to time with the SEC, including, among others,
Gascos Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 filed with the SEC
on November 2, 2010.
Any of these factors could cause Gascos actual results to differ materially from the results
implied by these or any other forward-looking statements made by Gasco or on its behalf. Gasco
cannot assure you that its future results will meet its 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 Gasco, or persons acting on its behalf, are expressly
qualified in their entirety by these factors. Gascos forward-looking statements speak only as of
the date made. Gasco assumes no duty to update or revise its forward-looking statements based on
changes in internal estimates or expectations or otherwise.
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