SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* HERALD PEGGY A (Last) (First) (Middle) 8 INVERNESS DRIVE EAST SUITE 100 (Street) ENGLEWOOD CO 80112 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 06/14/2006	3. Issuer Name and Ticker or Trading Symbol GASCO ENERGY INC [ GSX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Accounting Officer	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	11,913	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Right to Buy	05/02/2002(1)	01/02/2012	Common Stock	100,000	$1.73	D
Right to Buy	06/10/2003(2)	02/10/2013	Common Stock	50,000	$1	D
Right to Buy	11/27/2004(3)	07/27/2014	Common Stock	40,000	$1.92	D
Right to Buy	10/09/2005(4)	06/09/2015	Common Stock	125,000	$3.39	D
Right to Buy	04/26/2007(5)	04/26/2016	Common Stock	50,000	$5.69	D

Explanation of Responses:

1. Granted 100,000 options under the Issuer's 1999 Stock Option Plan. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 5/2/02, and all options expiring 01/02/12.

2. Granted 50,000 options under the Issuer's 1999 Stock Option Plan. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 6/10/03, and all options expiring 02/10/13.

3. Granted 40,000 options under the Issuer's 1999 Stock Option Plan. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 11/27/04, and all options expiring 07/27/14.

4. Granted 125,000 options under the Issuer's 1999 Stock Option Plan. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 10/09/05, and all options expiring 06/09/15.

5. Granted 50,000 options under the Issuer's 1999 Stock Option Plan. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 4/26/07, and all options expiring 04/26/16.

	Peggy A. Herald	06/22/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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