BNET Industries

Market Cap:$47.4M
Last Fiscal Year Sales:$41.8M
  • Public
  • US
Dow Jones Description

Gasco Energy, Inc. ("Gasco" or "the Company") is a natural gas and petroleum exploitation, development and production company engaged in locating and developing hydrocarbon prospects, primarily in the Rocky Mountain region. "Our", "we", and "us" as used in this annual report, also refer to Gasco Energy, Inc. 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 prospects in this area. 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. The Company is currently focusing its drilling efforts in the Riverbend Project located in the Uinta Basin of northeastern Utah, targeting the Wasatch, Mesaverde and Blackhawk formations. History Gasco (formerly known as San Joaquin Resources Inc. ("SJRI")) was incorporated on April 21, 1997 under the laws of the State of Nevada, as "LEK International, Inc." The Company operated as a "shell" company until December 31, 1999, when the Company combined with San Joaquin Oil & Gas Ltd., a Nevada corporation ("Oil & Gas"). As a result of that transaction, Oil & Gas became a wholly owned subsidiary of Gasco.

Director and CEO of First Ecom
Gregory Pek
Number of Employees 37
Contact Information

8 Inverness Dr E Ste 100

Englewood, Colorado 80112

gascoenergy.com

(303) 483-0044

NAICS Code Natural Gas Liquid Extraction: 211112

Recent Events

  • Gasco Energy Announces Third Quarter 2009 Financial and Operational Results

    11/03/09 - Financial Announcement - View Story

  • Gasco Energy Introduces New California Oil Projects Updates Third Quarter 2009 Operations

    10/16/09 - Financial Announcement - View Story

  • Gasco Energy Q1 2009 Earnings Call Transcript

    6/25/09 - Financial Announcement - View Story

News & Analysis

gasco energy inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Gregory Pek Director and CEO of First Ecom
Mark A. Erickson Chief Executive Officer
Decker K. Michael COO & Executive Vice President
Grant W. King CFO, Secretary & Executive Vice President
Michael K. Decker Coo & Executive Vice President
Peggy Herald Chief Accounting Officer, Vice President, Accounting & Admin
W. King Grant CFO, Secretary & Executive Vice President
W. King Grant Cfo, Secretary & Executive Vice President
John D. Longwell Vice President & Manager, Operations
Charles H Wilson Drilling Manager
Charles H. Wilson Manager, Drilling
David R. Smith Manager, Land
Mark Choury Land Manager
Robin Dean Manager, Geological
Suzie Wright Manager, Corp Admin
Camille A Gerard Controller
Keith Doss Controller
Richard A Hartfield Controller
Shawn C Elworthy Field Superintendent

Board of Directors

Name (plus bio) Position
Carmen J. Lotito Director and Chairman of Audit and Compensation Committee
Charles B. Crowell Director, Vice Chairman and Member of Audit and Compensation Committee
Marc A Bruner Chairman and Strategic Consultant for Gasco Energy, Member of the Executive Committee
Tony Lotito Chairman
Carl Stadelhofer Board of Directors
Carl Stadelhoper Board of Directors
Howard O Sharpe Board of Directors
J Timothy Bowes Board of Directors
John A. Schmit Board of Directors
Richard J. Burgess Board of Directors
Richard S. Langdon Board of Directors

Mr. Pek trained as a professional accountant in Canada, becoming a Chartered Accountant in 1982. Mr. Pek first worked with Clarkson Gordon (now Ernst and Young) and later established his own public accounting practice. Mr. Pek has been an Officer and Director of a number of public companies since the early 1980s including companies listed on Nasdaq, Hong Kong and Vancouver stock exchanges. He has a broad range of experience in multiple industries ranging from real estate and infrastructure projects, food manufacturing and distribution, franchising and technology. In 1999, Mr. Pek co-founded First Ecom.com, Inc. This was a start-up company that became the first independent (non-government/financial institution owned), licensed (by Visa and Mastercard) third party processor of credit card transactions in Asia.

Organization Position Status
Gasco Energy, Inc. Director and CEO of First Ecom Current

Mr. Erickson has served as a Director, Chief Executive Officer and President of Gasco since February 2001. Mr. Erickson served as President of Pannonian Energy Inc. from mid-1999 until the Company's merger with Pannonian Energy in February 2001. In late 1997, Mr. Erickson co-founded Pennaco Energy, Inc., an AMEX listed oil and gas company with properties in the Powder River basin of Wyoming. He served as an officer and Director of Pennaco from its inception until mid-1999. Mr. Erickson served as President of RIS Resources (USA), a natural gas company from late 1997 to the end of 1998. Mr. Erickson is a Registered Petroleum Engineer with twenty years of experience in business development, finance, strategic planning, marketing, project management and petroleum engineering. He holds a MS in Mineral Economics from the Colorado School of Mines and a BS in Petroleum Engineering from the Montana School of Mineral Sciences.

Organization Position Status
Gasco Energy, Inc. Chief Executive Officer Current
Gasco Energy, Inc. President Current
Gasco Energy, Inc. Board of Directors Current
Colorado School of Mines MS In Mineral Economics Former
Montana, Inc. BS In Petroleum Engineering Former

Organization Position Status
Gasco Energy, Inc. COO & Executive Vice President Current

Organization Position Status
Gasco Energy, Inc. CFO, Secretary & Executive Vice President Current

Mr. Decker has 29 years of oil and gas prospecting, development, operations and M&A experience. He was the Vice President of Exploitation at Prima Energy Corporation, (NASDAQ: PENG), Prima was recognized by the Denver Business Journal as the "top performing Colorado based company of the 1990s," with a market return of 1857%. Mr. Decker also worked for Bonneville Fuels Corporation and Tenneco Exploration and Production Company. He holds a BS degree in Geological Engineering from the Colorado School of Mines and is the Chairman of the Potential Gas Committee.

Organization Position Status
Gasco Energy, Inc. Coo & Executive Vice President Current
Black Diamond Energy, Inc. President Former
Prima Energy Corporation Vice President of Exploitation Former
Co-Production Senior Project Geological Engineer Former
Colorado School of Mines BS Degree In Geological Engineering Former

Ms. Herald joined Gasco in 2002 as Controller and was since promoted to Vice President and Controller. She has over 18 years of financial, accounting and reporting experience in the oil and gas industry. Prior to joining Gasco, she served as the Financial Reporting Manager for Hallwood Energy Corporation, where she managed the financial reporting process for several publicly traded oil and gas corporations and limited partnerships. She also worked in public accounting for five years at Deloitte & Touche LLP and KPMG LLP. Ms. Herald is a CPA and holds a BS degree in Accounting from Regis University.

Organization Position Status
Gasco Energy, Inc. Chief Accounting Officer, Vice President, Accounting & Admin Current
Gasco Energy, Inc. Controller Current
Hallwood Energy Corporation Financial Reporting Manager Former
Deloitte & Touche LLP Former
Regis University BS Degree In Accounting Former

Organization Position Status
Gasco Energy, Inc. CFO, Secretary & Executive Vice President Current

Prior to joining Gasco, Mr. Grant served as Executive Vice President and Chief Financial Officer for KEH.com, a catalog/Internet retailer of new and used camera equipment. From 1997 to 1999, Mr. Grant was Senior Vice President in the Natural Resources Group of ING Baring, LLC. He was responsible for providing financing and advisory services to mid-cap and smaller energy companies. For the previous 11 years, Mr. Grant held several positions at Chase Manhattan Bank and its affiliates, most recently as a Vice President in the Oil & Gas group. Mr. Grant holds a BSE in Chemical Engineering from Princeton University and an MBA from the Wharton School at the University of Pennsylvania.

Organization Position Status
Gasco Energy, Inc. Cfo, Secretary & Executive Vice President Current
Wharton Graduate School of the University of Pennsylvania MBA Former
Princeton University Bse In Chemical Engineering Former

Mr. Longwell was founder and President of Action Oilfield Services, Inc, Action Energy Services, Methane Engineering, LLC, and was Senior Vice President of Operations for Prima Energy Corp. His 29 years of oil and gas drilling, completion, and operations experience make him well suited for managing GASCO Energy's drilling program and ongoing operations. He received his BS in Mechanical Engineering from Syracuse University.

Organization Position Status
Gasco Energy, Inc. Vice President & Manager, Operations Current
Action Energy Services President Former
Action Oilfield Services, Inc. President Former
Prima Energy Corporation Senior Vice President of Operations Former
Action Energy Services Founder Former
Action Oilfield Services, Inc. Founder Former
Prima Energy Corporation Founder Former
Syracuse University Bachelors of Science Degree In Mechanical Engineering Former

Organization Position Status
Paleotechnology International Chief Financial Officer Current
Petrohunter Energy Corp Chief Financial Officer Former
Biofibre Technology Board of Directors Current
Gasco Energy, Inc. Director Current
Galaxy Energy Corp Director Current
Petrohunter Energy Corp Secretary Current
Galaxy Energy Corp Chief Financial Officer Former
Dolphin Energy Limited Chief Financial Officer Former
Galaxy Energy Corp Executive Vice President Former
Petrohunter Energy Corp Executive Vice President Former
Dolphin Energy Limited Director Former

Charles Crowell is Chairman of the Board and Chief Executive Officer of PetroHunter Energy Corporation. Mr. Crowell has 38 years of experience as an attorney, officer and consultant to oil and gas companies. He has held executive positions at several public and private companies, including manager and principal of Enigma Energy Company, LLC and Executive Vice President, of Administration of Triton Energy Corporation. Mr. Crowell also has 18 years experience as a director in several other public companies, including Gasco Energy, Inc., Comanche Energy, Inc., Arakis Energy Corporation, Aero Services International, Inc., and Triton Europe, plc.

Organization Position Status
Petrohunter Energy Corp Chief Executive Officer Current
Gasco Energy, Inc. Director, Vice Chairman and Member of Audit and Compensation Committee Current
Petrohunter Energy Corp Chairman of the Board Current
Providence Resources Inc Director Current
Derek Oil & Gas Corporation Director Current
Petrohunter Energy Corp President Former
Gasco Energy, Inc. Director Former

Organization Position Status
Gasco Energy, Inc. Manager Current

Mr. Wilson has 26 years of experience in the oil and gas industry. Prior to joining Gasco Energy, he was the US Onshore Drilling Manager for Forest Oil Company located in Denver, Colorado. His 26 years of experience in the industry has ranged from drilling, completion and production operations to surface equipment installations. Since 1990 Mr. Wilson has been focused primarily on drilling operations covering Utah, Wyoming, North Dakota, Montana, California, Nevada, New Mexico, Texas, Louisiana, Mississippi and five years in the international arena. His experience will accommodate the current Management and Technical teams that are currently in place at Gasco. He holds a BS degree in Petroleum Engineering from the University of Wyoming and in addition has held several positions within the Society of SPE and AADE.

Organization Position Status
Gasco Energy, Inc. Manager, Drilling Current
University of Wyoming BS Degree In Petroleum Engineering Former

Prior to joining Gasco, Mr. Smith was Director of Land for Hunter Energy, LLC. He has 25 years of experience in the land side of the oil and gas industry as a title attorney, corporate landman, and lease brokerage owner whose clients included Encana, Bill Barrett Corp., Williams, Lance Oil and Gas Company, Kerr McGee and Dominion E & P. He received his Bachelors of Science degree in Chemistry and Mathematics from Metropolitan State College, and Juris Doctorate from the University of Denver.

Organization Position Status
Gasco Energy, Inc. Manager, Land Current

Organization Position Status
Gasco Energy, Inc. Land Manager Current
University of Colorado BA In Political Science Former

Mr. Dean has over 31 years of experience in the oil and gas industry. Since joining Gasco in 1999 as a Consulting Geologist, Mr. Dean generated the Riverbend Prospect, originated the Mesaverde play concept, which he marketed to Phillips Petroleum, and authored numerous prospects in the Uinta Basin-Douglas Creek Arch area. Between 1991 and 1999, Mr. Dean worked as a Consulting Geologist. Clients included Rosewood Resources, Inland Resources, AA Production and Apache Corporation. Prior to 1991, Mr. Dean worked in various technical and supervisory and technical positions for companies including Enron Oil and Gas, Belco Petroleum, Diamond Shamrock Corporation and Texaco. Mr. Dean holds a Bachelor's degree and a Master's degree in Geology from Cambridge University in England.

Organization Position Status
Gasco Energy, Inc. Manager, Geological Current
Cambridge University Master's Degree In Geology Former
Cambridge University Bachelor's Degree Former

Ms. Wright is an oil and gas professional with extensive experience in the industry, including affiliations with two Fortune 500 companies and participation in two public offerings. Her significant expertise covers a broad spectrum, including human resources, risk management, investor relations, and corporate relations.

Organization Position Status
Gasco Energy, Inc. Manager, Corp Admin Current

Camille A. Gerard brings to Gasco Energy over 18 years of energy industry and consulting experience in internal auditing, e-marketing, and commodity management; including transportation and marketing of natural gas and pulp and paper. Prior to joining Gasco, Ms. Gerard was the founder of Risk Management Consulting, LLC a Denver-based company that performed Sarbanes-Oxley reviews for such companies as Gasco Energy, EKS&H, and St. Mary Land and Exploration. Ms. Gerard has also worked in natural gas marketing with Xcel Energy, pulp and paper trading with Enron Industrial Markets, launching and managing marketing support for a start-up trading website for Enron Net Works, and Marketing Support for Northern Natural Gas. She holds a Bachelor of Science in Geology from the University of Louisiana at Lafayette and an MBA with a specialization in Internal Auditing from Louisiana State University. She is a Certified Internal Auditor and Certified Public Accountant.

Organization Position Status
Gasco Energy, Inc. Controller Current
Risk Management Consulting LLC Founder Former
Xcel Energy Inc. Former
Louisiana State University MBA Former
University of Louisiana at Lafayette Bachelor of Science In Geology Former

Organization Position Status
Gasco Energy, Inc. Controller Current
University of North Texas Master of Science Former
University of North Texas Bachelor of Science Former

Organization Position Status
Blue & Co. LLC Partner Current
Gasco Energy, Inc. Controller Current
University of Nebraska Juris Doctorate Former

For nearly 20 years, Mr. Elworthy was Field Foreman for Prima Energy Corp. He was also instrumental in the formation of Action Oilfield Services. Beginning in 1977, as the founder of Rocky Mountain Oilfield Services (a production and oilfield construction company), Mr. Elworthy contributed to the economic development of the Codell play, in the DJ Basin of Colorado. His 27 years of experience in the industry will enable him to help fulfill Gasco Energy's mission to develop the Uinta Basin in Utah.

Organization Position Status
Gasco Energy, Inc. Field Superintendent Current

Mr. Bruner serves as President, Chief Executive Officer and Chairman of Falcon Oil and Gas Ltd. (TSXV: FO). Marc has a strong track record of founding and developing unconventional energy companies. Mr. Bruner was a co-founder and is the current Chairman of Gasco Energy, Inc. (AMEX: GSX). Previously, Mr. Bruner was a founder and was the Chairman of Ultra Petroleum Corporation (AMEX: UPL). Mr. Bruner also co-founded Pennaco Energy, Inc., which was acquired by Marathon Oil (NYSE: MRO) in 2001.

Organization Position Status
Falcon Oil & Gas Ltd. President, Chief Executive Officer Current
Falcon Oil & Gas Ltd. Chairman Current
Gasco Energy, Inc. Chairman and Strategic Consultant for Gasco Energy, Member of the Executive Committee Current
Falcon Ltd Chief Executive Officer Former
Petrohunter Energy Corp President, Chief Executive Officer, and Chairman of the Board of Falcon Former
Falcon Ltd President Former
Ultra Petroleum Corp. Chairman Former
Gasco Energy, Inc. Board of Directors Former

Organization Position Status
Paleotechnology International Co-Founder, Chief Financial Officer and Director Current
Gasco Energy, Inc. Chairman Current
Petrohunter Energy Corp Chief Financial Officer Former
Galaxy Energy Corp Chief Financial Officer Former
Petrohunter Energy Corp Executive Vice President Former
Petrohunter Energy Corp Secretary Former
Galaxy Energy Corp Treasurer Former

Mr. Stadelhofer has served as a Director since February 2001, as a member of the audit committee and the compensation committee of Gasco since April 2001 and as a member of the nominating committee of Gasco since April 2006. Mr. Stadelhofer has also served as a director for Falcon since June 2006. Mr. Bruner is the CEO of Falcon. Mr. Stadelhofer is a partner with the law firm of Rinderknecht Klein & Stadelhofer in Zurich, Switzerland, where he has practiced law for over twenty years. He was admitted to the practice of law in Switzerland in 1982. He completed his law degree in 1979 in Switzerland and studied law in the United States at Harvard Law School and at Georgetown University Law School. His practice specializes in banking and financing, mergers and acquisitions, investment funds and international securities transactions.

Organization Position Status
Gasco Energy, Inc. Board of Directors Current
Falcon Ltd Director Current
Falcon Oil & Gas Ltd. Director Current

Organization Position Status
Gasco Energy, Inc. Board of Directors Current

Organization Position Status
Gasco Energy, Inc. Board of Directors Current
Alpine Gas, Inc. Executive Vice President Former

Organization Position Status
Gasco Energy, Inc. Board of Directors Current
University of British Columbia MBA Former
University of British Columbia Bachelor of Commerce Former

John Schmit, age 35, joined Renaissance Group in 1997, and is Vice- President-Investments. He is also Vice President of the Fund. Mr. Schmit is responsible for portfolio analysis and monitoring. From September 1992 to September 1994, he practiced law with the law firm of Gibson, Ochsner, & Adkins, Amarillo, Texas. He holds a BBA in Finance from Texas Christian University, a JD from the University of Oklahoma College of Law and an LLM in International and Comparative Law from Georgetown University Law Center. He is director of Obsidian Enterprises, Inc.

Organization Position Status
Internet Marketing Images, Inc. Vice President-Investments Current
The Renaissance Group LLC Current
Obsidian Enterprises, Inc. Director Current
Gasco Energy, Inc. Board of Directors Current
Crestview Capital Funds Managing Member & Head Analyst Former
Crestview Former
The University of Oklahoma J.D. Former
University of Oklahoma College of Law Jd Former
Georgetown University Law Center Llm Former
Texas Christian University Bba In Finance Former

Mr. Burgess has served as a Director and a member of the compensation committee of Gasco since May 2003. Mr. Burgess served as President and Chief Executive Officer of NOMECO before retiring in 1994. NOMECO later became CMS Oil and Gas Company, which is a wholly owned subsidiary of CMS Energy Corporation, a New York Stock Exchange listed company. Mr. Burgess received a B.S. degree (honors) in Geology from the University of Manitoba and has held various positions in the oil and gas industry since 1954. Mr. Burgess currently serves on the Board of Michigan Oil and Gas Association and is a former director of ROC Oil Company, Miller Exploration, Seagull Energy, Command Petroleum and Sydney Oil Company. Mr. Burgess has been involved, in various capacities, with the American Association of Petroleum Geologists, Independent Petroleum Association of America, Ontario Petroleum Institute and Potential Gas Committee.

Organization Position Status
Gasco Energy, Inc. Board of Directors Current
Michigan Oil and Gas Association Board of Directors Current
Seagull Energy Corporation Director Former
University of Manitoba B.S. Degree Former

Richard S. Langdon. Mr. Langdon became a Director of Gasco and a member of the audit committee in March 2003 and of the nominating committee since April 2006. Mr. Langdon is currently the President and Chief Executive Officer of Matris Exploration Company, LP, a privately held exploration and production limited partnership active in California, and Sigma Energy Ventures, LLC, a privately held exploration and production limited liability company active in Texas. Mr. Langdon became the President and Chief Executive Officer of Matris in the beginning of 2003 and the President and Chief Executive Officer of Sigma in December of 2007. From 1997 until December 2002, Mr. Langdon served as Executive Vice President and Chief Financial Officer of EEX Corporation, a New York Stock Exchange listed exploration and production company that was acquired by Newfield Exploration in late 2002. Before joining EEX Corporation, Mr. Langdon was an oil and gas consultant from August 1996 to March 1997. Prior to that, he held various positions with the Pennzoil Companies since 1991, including Executive Vice President International Marketing Pennzoil Products Company, from June 1996 to August 1996; Senior Vice President Business Development & Shared Services Pennzoil Company from January 1996 to June 1996; and Senior Vice President Commercial & Control Pennzoil Exploration & Production Company from December 1991 to December 1995. Mr. Langdon is currently a member of the Board of Constellation Energy Partners LLC, a public limited liability company focused on the acquisition, development and exploitation of oil and natural gas properties and related midstream assets. Mr. Langdon holds a B.S. in Mechanical Engineering and a Masters of Business Administration, both from the University of Texas at Austin.

Organization Position Status
California Inc Chief Executive Officer Current
California Inc President Current
Constellation Energy Partners LLC Board of Directors Current
Gasco Energy, Inc. Board of Directors Current
The University of Texas at Austin Masters of Business Administration Former
The University of Texas at Austin B.S. In Mechanical Engineering Former
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     GSX $0.44 +0.01 (1.85% )
Average Volume 1,624,540
Shares Outstanding 107.73M
Market Cap 47.4M
Year High 0.83
Year Low 0.18
Earnings Per Share -0.49
P/E Ratio -0.90
Dividend N/A
Yield N/A
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