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Timothy Smith

11/05/12 10:21 AM

#686 RE: vero #685

"With modest capital expenditures for our oil well workover program, field personnel are improving production in advance of our new-drill program and we have an additional 10 oil wells to workover," said King Grant, Gasco's president and CEO. "Our plans are dependent upon securing both a drilling rig and the necessary well permits to begin drilling our new-drill Green River program. We still expect the program to commence in late Q4-12, however, it could begin early in the first quarter 2013. Either way, we are benefitting from sustained strong oil prices and an improving natural gas market, each of which we expect to continue into 2013."