Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
THey are trying get into .30 ....first of multiple run ahead.
We need a rise in natural gas prices and this one would do well until then probably just a small pop here or there. But as the saying goes buy low and sell high the question is can all the smaller natural gas producers stay in business until the price goes up? Larger natural gas producers would be the safest bet and probably make some very nice returns in the long run. Just my opinion GL
Looks like it went from 4.4 million to 4.2 million according to www.shortsqueeze.com so if that web site is accurate there still needs to be a lot of covering.
Has the short interest changed at all? Anyone?
i see this going to a buck maybe more.. i plan on adding more asap any chance we see 5.00?
In my own opnion glta
I'm happy for us!!! we stuck it out!! great forecasts!!
After hours..up almost 20%
*********************************
Form 8-K for GASCO ENERGY INC
27-Feb-2012
Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial
Item 1.01 Entry into a Material Definitive Agreement.
Purchase and Sale Agreement. On February 23, 2012, Gasco Production Company (the "Company"), a Delaware corporation and wholly owned subsidiary of Gasco Energy, Inc. ("Gasco"), entered into a Purchase and Sale Agreement (the "Purchase Agreement") with Wapiti Oil & Gas II, L.L.C., a Delaware limited liability company ("Wapiti"). Pursuant to the terms of the Purchase Agreement, at closing, the Company will transfer to Wapiti an undivided 50% of the Company's interest in its Uinta Basin producing oil and gas assets and properties in the Uintah, Duchesne and Carbon counties in Utah (the "Project Area," and such interests, the "Conveyed Interests" and, together with the Company's remaining 50% undivided interest in such producing assets and properties and any other similarly situated oil and gas assets and properties that are jointly acquired by the Company and Wapiti after the closing, the "Producing Assets") in exchange for $20,750,000 in cash, subject to certain adjustments, including adjustments for certain environmental and title defects relating to the Conveyed Interests. The effective date of the transfer will be September 1, 2011. The closing of the transactions contemplated by the Purchase Agreement (the "Closing") is subject to certain customary closing conditions. The Company expects the Closing to occur in March of 2012.
The Purchase Agreement contains customary representations and warranties, covenants and indemnification obligations, as well as customary termination provisions. If either the Company or Wapiti terminates the Purchase Agreement because of an uncured breach by the other party in a manner such that certain closing conditions would not be satisfied, the party so terminating the Purchase Agreement will be entitled to receive liquidated damages of $5,000,000 from the breaching party.
Development Agreement. In connection with the Purchase Agreement, at the Closing the Company will enter into a Development Agreement with Wapiti (the "Development Agreement"). Pursuant to the terms of the Development Agreement, the Company will assign Wapiti an undivided 50% interest in the Company's other oil and gas assets in the Project Area (the "Non-Producing Assets" and collectively with the "Producing Assets," the "Subject Assets") in exchange for Wapiti's agreement to enter into a drilling program to develop the Subject Assets. The Subject Assets include 50% of the Company's interest in approximately 117,000 gross leasehold acres and 84,000 net leasehold acres, as well as 135 producing wells and proven reserves
Under the terms of the drilling program, the parties commit to initially fund $37,500,000 of drilling and completion costs associated with the development of the Subject Assets, with the Company committing to fund $7,500,000 of such costs and Wapiti committing to fund $30,000,000 of such costs (with $15,000,000 of Wapiti's commitment being paid by Wapiti on behalf of the Company as consideration for the Non-Producing Assets) (such commitment, as may be increased as provided below, the "Wapiti Commitment"). On the one year anniversary of the Purchase Agreement, if the price of natural gas as quoted on the NYMEX Natural Gas Futures Market for the 5 year futures strip pricing is greater than or equal to $5.00/MMBtu, then the parties will increase the drilling program to $43,750,000, with the Company committing to fund $8,750,000 of such costs and Wapiti committing to fund $35,000,000 of such costs (with $17,500,000 of Wapiti's commitment being paid by Wapiti on behalf of the Company as consideration for the Non-Producing Assets). The drilling program will continue until the Wapiti Commitment has been fully expended or for a shorter period, if the Operating Committee (as defined below) votes to cease the drilling program after Wapiti has expended $10,000,000 on drilling and completion costs related to program wells (the "Drilling Term"). The Company may
suspend the drilling program, including the expenditure of the Wapiti Commitment, for up to six months if certain governmental environmental studies have not been completed by the time that $23,600,000 of the Wapiti Commitment has been expended.
With respect to wells drilled pursuant to the drilling program, the net revenue interest attributable to such wells (a) from the Closing through the time when the cumulative proceeds received by Wapiti from such wells equals the amount of costs actually paid by Wapiti in respect of such wells and the drilling program (such time, "Payout"), will be allocated 32.5% to the Company and 67.5% to Wapiti, and (b) after Payout, will be allocated in proportion to the actual net revenue interests of the parties in such wells. With respect to each well drilled pursuant to the drilling program, (i) all drilling and completion costs will be borne (a) during the Drilling Term, 20% by the Company and 80% by Wapiti, (b) after the Drilling Term but before Payout, 32.5% by the Company and 67.5% by Wapiti, and (c) after Payout, in proportion to the actual working interests of the parties in such wells, and (ii) all other working interest costs will be borne (x) before Payout, 32.5% by the Company and 67.5% by Wapiti, and (y) after Payout, in proportion to the actual working interests of the parties in such wells.
Subject to the terms of the Development Agreement, the Company will manage the operations contemplated by the drilling program. Except for the Subject Assets that are already subject to joint operating agreements with third parties, the operation of (i) a portion of the Subject Assets will be subject to an agreed upon form of joint operating agreement (a "JOA"), which will name the Company as operator of record, and (ii) the remaining portion of the Subject Assets will be subject to an agreed upon JOA, which will name Wapiti as operator of record. The Company and Wapiti will enter into a contract operating agreement naming the Company as contract operator with respect to the portion of the Subject Assets for which Wapiti is named as operator of record. The Company and Wapiti will form an Operating Committee (the "Operating Committee") to oversee generally the drilling program and operations in the Project Area and to approve certain matters specified in the Development Agreement. The Operating Committee will consist of two members from each of the Company and Wapiti, with the members appointed by each party having an aggregate 50% vote.
The Development Agreement also contains transfer restrictions on each of the Company's and Wapiti's ability to transfer their respective interests in the Subject Assets. The Development Agreement also contains a customary area of mutual interest provision covering the Project Area. With certain limited exceptions, the Development Agreement will remain in effect during the Drilling Term; however, after the six-month anniversary of the end of the Drilling Term, the Development Agreement may be terminated by either the Company or Wapiti upon six months' advance notice.
JOINT VENTURE NEWS!!!
Gasco Energy Announces Uinta Basin Joint Venture!!!
.24 holding well - trending is bullish
Decker should be coming out with some news on the Green River wells soon and a progress report on the California drilling.
I was out all day and didn't get to watch this much. I still really like GSX and it's trending upwards which is very nice. We've had a few green days in a row so not mad at a large red day today. I think by end of next week we could get a golden cross which will help this past 30 cents, not to mention the earnings report.
the volume was amazing yesterday. Perhaps early next week. Stocks like LEI have earnings coming up and a outcome there helps as well.
.27 is the goal for today or tomorrow - a close here is above the last high and a new leg up starts
With 4.4 million short shares any good news could send us over 1 dollar easily...
Only news I expect are Q4 earnings on the 27th, but hearing a lot of talk about other newsy-type items. As for a buck, I don't think it'd get there right away but in a long-term perspective, $1+ is very attainable.
GSX breaking 200 day MA next week - get ready!
200 day MA is actually between .23 and .24 and trading has been moving upwards right on the 50 day MA, currently at just under .21.
It has already tried to break the 200 day MA twice, so the next time (which will happen soon) has to break, which I believe it will.
I've been looking at this one since 18 cents. Previously got in at 24 cents and sold at 26 cents after soaking up other energy stocks like (LEI) which is a great swing stock.
This has been showing support around 21 cents for quite awhile with the PPS reaching 23 or 24 cents with strong volume. I do see this going back to the 200MA which is at 26 cents very soon.
www.tradergang.com
So what happened to this when it fell off a cliff in 2008?
Yes, the daily chart is showing a nice bottoming pattern. The candle I circled was a key tip off I think...
The weekly chart shows some logical recovery points
The monthly chart shows the glory days when this was a hot nat gas play:
I came accross a news letter on this way back when it was an otc stock...
It may not happen tomorrow, but by end of next week, this one is moving up through the 200 day MA IMO
It has been riding the 50 day MA 21 trading days and just inching closer. Anyone else see the huge bid support at .21 today?
Get em cheap now!
I bought some GSX today. Had my eyes on it for a while. Looks like a decent opportunity to rise from here IMO.
Hey board. Coming over from Mainland's board over here and see this thing appears to be in dire straights? I remember seeing a promo for this at a $2. Bought some and sold at a $1 way back when... Then noticed it get on the AMEX and trade for high dollars. Now I look again and wow, and all time low.
Can anyone comment what's the future here? Not sure I want look much more, but interested nevertheless...
Hey, I've seen your posts on CBIS as well and thanks for your contribution.
I do not like GSX's low volume though, it may seeking new support levels soon.
Update on Daily Chart and Rising Wedge - Anyone want to argue about how technical analysis does not work on penny stocks now? I don't make this stuff up people! If you would take the time to learn about technical analysis, you would see these things yourself and be able to capture profits when you have them in situations like this when the price is about to fall sharply. Sooner or later, the price of GSX may turn around again. I'll try to update this chart for you when it does but, my own trading takes president over posting updated charts so, that's why you should know more about technical analysis so you can do this stuff yourself.
GSX - Daily Candlesticks
You were wondering if I'm following GSX. I was asked for an opinion on it so, I charted it and since then I've been watching the charts. I managed to make one very nice day trade with it so far. I only trade stocks from the technical side. I honestly do not even know what GSX does and frankly, I don't care. I only care whether the price is going to go up or down and after many years of trading and investing I can tell you that the news and the fundamental data do not help at all with timing a successful trade. So, I never take a position because I'm waiting for a company to discover oil or whatever. But, trading like I do, if I'm watching the charts, and trading the stock, I will most likely own shares if and when it does rally strongly. I specialize in buying low and selling when I have a profit and the charts are telling me that the rally is about over.
FORTISGR nice GSX vol....and to answer your question
I only have 15 postings a day
WHEN WILL GSX RELEASE FINAL RESULTS ON THE (2) two WELLS: FEBRUARY OR MARCH?
GUYS what do you believe?
Good Question ... The Daily chart is not yet oversold indicating lower prices are possible. American Bulls also believes that from their analysis but, the Hourly chart is oversold indicating that a bounce is possible. I would wait for further confirmation. I think the Daily chart should be oversold before taking a position, it appears to be headed for oversold territory.
Yes, it looks like a very nice chart to have traded or simply bought and held.
You mean this KOG...
03/17/2009 09:33:30 Bought 1000 KOG @ 0.19
-199.99 ---
03/30/2009 09:51:46 Sold 1000 KOG @ 0.3
290.00
I'm kicking myself for both how little I use to buy and sell for because of a % gain. (LOL)
I'd say that chart must have looked VERY BULLISH for almost 3 years.
Do you think the .18s will hold or go lower?
Well there is the 18s watching for a reentry now.
NEWS! Gasco Energy Provides Operations Update
DENVER, Jan. 19, 2012 /PRNewswire/ -- Gasco Energy, Inc. (NYSE Amex: GSX) today provided an interim operations update on its Riverbend Project in Utah's Uinta Basin and on its California projects in the San Joaquin Basin.
Riverbend Project Operations Update
Green River Oil Well Completion Operations
In December 2011, Gasco reached total depth in the Green River Formation on two wells, the Federal #34-19G-9-19 [100% working interest (WI) / 79.3% net revenue interest (NRI)] and the Federal #23-30-G-9-19 (100% WI / 72.8% NRI). Successive completion operations for the wells commenced in mid-January and completion fluid flow back and production testing are underway.
The Federal #34-19G-9-19 well, a 5,574-foot vertical producer, was successfully completed in three stages in the oil-bearing Green River Formation.
The Federal #23-30-G-9-19 well, a 5,473-foot vertical producer, was successfully completed in four stages in the oil-bearing Green River Formation.
Both wells are performing as anticipated. Gasco expects to provide further well updates once production testing has been completed.
Natural Gas Completion Operations
During Q4-11, Gasco recompleted three gross wells (2.25 net) natural gas wells to target up-hole pay zones in exiting wellbores. As of January 12, 2012, Gasco operated 133 gross wells. Gasco currently has an inventory of 15 operated wells with up-hole recompletions and has one Upper Mancos well awaiting initial completion activities. The Company contracts drilling rigs as needed and does not currently have a rig under contract at this time.
Quarterly Production
Estimated cumulative net production for the quarter ended December 31, 2011 was 870.1 million cubic feet equivalent (MMcfe), a 23.7% decrease from Q4-10 production of 1,140 MMcfe, and a 6.5% decline from sequential Q3-11 production of 930.3 MMcfe Approximately 50% of the of the 6.5% decline in sequential quarterly equivalent production is attributed to pigging operations in the third-party midstream company's gathering lines. The remaining 50% is due to high line pressures before the gathering system was pigged and the normal decline associated with tight sand reservoirs. The gathering system operator has devised a more rigorous maintenance plan, including regular pigging operations to better manage line pressures and to provide for improved volume throughput.
Gasco had decreased liquids volumes due to pigging operations, high line pressures, workover operations, and normal production declines. Gasco produced approximately 7,871 barrels of liquids during Q3-11. This compares to 8,424 barrels of liquids production during Q3-11, or a 6.6% decrease.
Natural gas volumes of 822.9 MMcf for Q4-11 were down 6.5% sequentially, as compared to 879.8 MMcf in Q3-11.
Annual Production
Estimated cumulative net production for the year-ended December 31, 2011 was 3,867 MMcfe, a decrease of 11.1% over 2010's production of 4,348 MMcfe. The year-over-year decrease in production is the result of reduced completions of up-hole zones during 2011, third-party gathering system throughput issues and normal production decline expected from existing wells.
Gasco Energy Net Production Detail
Three-months
Ended
% Change
Year-
Ended
% Change
Period-over-Period
Comparison
Dec. 31,
2011*
Sept. 30,
2011
Dec. 31,
2010
Sequential Quarter
Quarter-
over-Quarter
Dec. 31,
2011*
Dec. 31,
2010
Natural Gas / MMcf
823
880
982
-6.5%
-16.2%
3,647
4,105
-11.1%
Oil / MBbls
7.9
8.4
10.2
-6.6%
-22.5%
36.8
40.5
-9.1%
Natural Gas Equivalents / MMcfe
870
930
1,043
-6.5%
-16.6%
3,867
4,348
-11.1%
*Includes preliminary production estimates for the fourth quarter of 2011
California Projects Update
Willow Springs
The Company was informed by the Willow Springs operator that the spud date of the initial well is delayed due to a later-than-expected rig release from the well the rig is currently drilling. The operator also informed Gasco that it expects the rig to be on location later in January. The Willow Springs location has the conductor set allowing for drilling to commence once the rig move and rig up are completed. To accommodate the slightly delayed spud date, Gasco granted the operator a 31-day extension in which to commence drilling operations.
Northwest McKittrick
The operator of this shallow oil prospect continues to work with the California State Agencies to acquire the appropriate permits. While some progress has been made, final approval is still pending from Federal and California agencies.
Antelope Valley Trend
The operator of these oil and liquids-rich prospects is currently processing the 3D seismic data. Gasco's agreement with its operator requires that the initial earning well be spud during the first half by July 1, 2012.
Gasco continues to develop new prospects and acquire acreage along the west side of the San Joaquin Basin. The new prospects are a continuation of the structural and stratigraphic geologic model that Gasco has been working for the past nine years that has yielded recent success along the west side as demonstrated by discoveries and field development by other operators with similar geologic models.
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. 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.
We have some oil... Good deal! We are about to get alot more.
We have some oil... Good deal! We are about to get alot more.
Chart is broken here for now looks like .18 is in order. jmo though
we went silent whats going on here? Green day and no noise lol glta
where do we go from here? how low can this go realistically? glta hope the tide turnS!!!!
i like my position and i wish you luck on yours.. this has formed a nice base and don't see it going much lower and thanks for the input hope the rest work out for you better than here :) glta imho
Your comment it typical for a non-chartist. You are not looking at the BIG picture. Since March of 2009 KOG has been in a strong uptrend and is trading above it's 200 week moving average. Since March of 2009 GSX has traded well below it's 200 week moving average which is a clear indication that it is and has been in a downtrend. The two charts are like night and day.
Followers
|
37
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
897
|
Created
|
10/16/05
|
Type
|
Free
|
Moderators |
Denver-based Gasco Energy, Inc. (NYSE MKT: GSX) is a natural gas and oil exploitation and development company focused on natural-gas-rich prospects in the Rocky Mountain area of the United States, specifically in Utah's Uinta Basin. Additional exploration leasehold is located in California and Nevada.
The Company's principal business strategy is to enhance stockholder value by using technologies new to a specific area to generate and develop high-potential exploitation resources in this area. 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 efforts in the Riverbend Project located in the Uinta Basin of northeastern Utah, targeting the Wasatch, Mesaverde and Blackhawk, Mancos and Dakota/Morrison gas bearing formations and the oil-prone Green River Formation. As of December 31, 2011, Gasco held interests in 184,612 gross acres (86,178 net acres) located in Utah, California and Nevada.
The Rockies represent the largest untapped, drillable potential for natural gas supply in North America. The Potential Gas Committee (PGC) estimates ultimate recovery of total gas reserves in the Rockies at 230 trillion cubic feet, excluding coalbed methane. The PGC estimates the greatest potential for non-associated natural gas in the Rocky Mountain region is concentrated in southwestern and south-central Wyoming, adjacent northwestern Colorado and northeastern Utah. This region includes the Uinta, Piceance and Greater Green River Basins.
ABOUT GASCO ENERGY | Management
Gasco's highly qualified management and technical team has extensive industry experience and a proven track record in oil and gas exploitation and development. The team has successfully developed several "early stage" oil and gas companies in the U.S. and Canada.
ABOUT GASCO ENERGY | Directors
Gasco Energy is committed to providing expertise to enhance the reputation and governance of the company through its Board of Directors.
Charles B. Crowell | ||||||||||||
Chairman of the Board of Directors
|
Denver-based Gasco Energy (NYSE MKT: GSX) is an independent exploitation and production company focused on developing tight gas sands in the United States Rocky Mountains. The Company's primary project is in the prolific hydrocarbon-bearing Uinta Basin of Utah. SEC-defined proved reserves at December 31, 2011 were 19.9 Bcfe, 100% of which were in Utah, 92% were natural gas and 100% were proved developed.
Gasco's 2012 initial capital expenditure budget ("Capex") is $5.0 million for oil and gas activities. In the Uinta Basin, the Company is allocating approximately $3.6 million for the drilling and completion of seven gross (1.3 net) new Green River Formation oil wells and six gross (2.0 net) new-drill natural gas wells. The Uinta drilling program is expected to commence during the third quarter of 2012.
The Company has allocated an additional $1.4 million to progress its exploration program, principally focusing on its California projects, including ongoing leasing and seismic acquisition. The Company expects that the Capex budget will be funded primarily from cash on hand and cash flow from operations. The 2012 Capex budget is subject to market conditions, drilling results, oilfield service availability, and commodity prices. The 2012 Capex does not include any promotes or carries in its California projects. |
In December 2011, Gasco began drilling two 50% working interest wells to test the productive potential of the oil-prone Green River Formation. The Federal 34-19 was successfully completed in three stages and the Federal 23-30 was successfully completed in four stages. The Federal 34-19G and the Federal 23-30G had initial seven-day average rates of 67 BOPD and 50 BOPD, respectively. The wells continue to produce as expected.
Based on the early success of these Green River wells, Gasco plans to drill seven gross (1.3 net) new Green River wells in its 2012 capital expenditure program. As of December 31, 2011, Gasco's leasehold interest in the San Joaquin Basin is approximately 37,959 gross acres (14,603 net) in Kern and San Luis Obispo Counties of Southern California. Leasehold rental payments and geological expenses are current in order to preserve the acreage positions. The Company is actively marketing these prospects to attract drilling partners for further exploration of the area. The project is in close proximity to the Midway-Sunset and Belgian Anticline oil fields which combined have cumulative production in excess of 2 billion barrels of oil.
Below is a description of the various projects in this area as of April 2012: Northwest McKittrick. The operator of this shallow oil prospect continues to work with the applicable California state agencies to acquire the appropriate permits. Progress has been slowed due to California state budget issues and forced furloughs affecting the regulatory agencies. While some progress has been made, final approval is still pending from Federal and California agencies. Willow Springs. The operator of this oil prospect has drilled and reached total depth on the initial well. The operator has run a seven inch liner to total depth with the intent of testing the well. It is anticipated that the well will be tested within the next 45 to 60 days. Antelope Valley. The operator of these oil and liquids-rich prospects is currently processing and interpreting the 3-D seismic data over the Antelope Valley prospects. Our agreement with the operator requires that the initial earning well be spud during the first half of 2012. S.W. Cymric. In Q1-12, the S.W. Cymric prospect, featuring both shallow and deep oil and gas potential pay horizons, was sold for a prospect fee of $750,000 and includes a best-efforts drilling commitment subject to seismic evaluation. Gasco will be carried for a 20% working interest in the first well. San Joaquin Basin. We continue to develop new prospects and acquire acreage along the west side of the San Joaquin Basin. The new prospects are a continuation of the structural and stratigraphic geologic model that we have been working on for the past nine years that has yielded recent success along the west side as demonstrated by discoveries and field development by other operators with similar geologic models. |
Market Value1 | $12,255,949 | a/o Feb 01, 2013 |
Shares Outstanding | 169,749,981 | a/o Nov 14, 2012 |
Float | Not Available | |
Authorized Shares | Not Available | |
Par Value | 0.0001 |
Shareholders of Record | 323 | a/o Mar 04, 2008 |
http://www.otcmarkets.com/stock/GSX/company-info
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |