Gasco Energy, Inc.(fka GSXN)

[Timothy Smith]

Additionally it may be interesting to compare the spending habits based on the price per MMBtu. Natural gas producers are changing the way they view the forward natural gas market.

They are budgeting at lower price levels, and they are looking for additional ways to reduce expenditures in order to continue to operate in what is projected to be a lower-priced natural gas environment.

Producers now indicate that they will increase spending in the natural gas market if prices reach $5 per MMBtu, whereas one year ago, they indicated they would increase spending at $6 per MMBtu.

Similarly, producers now indicate that they would likely cut spending at $3.50 per MMBtu, whereas one year ago, they indicated they would likely cut spending at $4 per MMBtu.