Gasco Energy Updates Uinta Basin JV; Shares Jump 8%

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Gasco Energy, Inc. ( GSX ) announced that it has conveyed a 50% interest in certain of its Uinta Basin properties to its joint venture partner concurrent with the March 22, 2012 closing of the joint venture.

Q1 13 is the fourth full reporting period in which Gasco's Uinta Basin net production reflects this conveyance. Due to the 50% interest conveyance, operational and financial results for the three-month period ended March 31, 2013 are not similarly comparable to the same period ended March 31, 2012. The Uinta Basin accounts for 100% of Gasco's production.

GSX is up 7.88% to $0.0356. Shares have a 52-week range of $0.02 - $0.26.

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This article appears in: Investing Commodities
Referenced Stocks: GSX


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