Gasco Energy, Inc. (GSX) says its subsidiary, Gasco Production Co., has entered into a series of transactions with Wapiti Oil & Gas to sell an undivided 50% interest in its Uinta Basin oil and gas assets for $20.75M in cash. It will also transfer an undivided 50% interest in its Uinta Basin non-producing oil and gas assets in exchange for, among other agreements, Wapiti's commitment to fund $30M of the drilling and completion costs for the assets. Shares +25% AH.
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