Gasco Energy, Inc. (Gasco) is a natural gas and petroleum exploitation, development and production company engaged in locating and developing hydrocarbon resources, primarily in the Rocky Mountain region. 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. As of December 31, 2012, the Company was focusing Gasco's operational efforts in the Riverbend Project located in the Uinta Basin of northeastern Utah. On March 22, 2012, the Company closed the Uinta Basin Transaction with Wapiti Oil & Gas II, L.L.C. (Wapiti), whereby, the Company sold to Wapiti an undivided 50% of its interest in certain of its Uinta Basin producing oil and gas assets, and transferred to Wapiti an undivided 50% of Gasco's interest in its Uinta Basin non-producing oil and gas assets in exchange for, among other agreements.