Pannonian

Through its subsidiary Pannonian Energy Inc., Denver-based Gasco Energy Inc. has entered into an agreement with a group of industry providers to accelerate development of its oil and gas properties. The agreement would include drilling up to 50 wells in Gasco’s Riverbend Project in Utah’s Uinta Basin. Initially, Gasco will drill a 10-well bundle, which represents $20 million of development activity. If the group agrees, drilling may accelerate with more rigs in the future.