Brek Energy Corporation Announces That Gasco Upgrades Acreage Position In Property Exchange With El Paso.

Business Editors

HONG KONG--(BUSINESS WIRE)--March 7, 2002

Brek Energy Corp. (NASDAQ: BREK, BSX: BREK, BREK BH), a company with interests in gas and oil exploitation and electronic payment solutions today announced that its affiliate Gasco Energy Inc. (OTC BB: GASE), a company of which Brek Energy has an equity interest convertible into 9,500,000 shares of common stock which represents more than 25% of Gasco's total shares outstanding, has successfully completed a strategic exchange of certain properties located in Utah's Uinta Basin with El Paso Corporation. In the transaction, Gasco receives approximately 2571 net acres located in its Uinta Basin Riverbend Project in exchange for the contractural right to earn Wasatch rights on approximately 10,850 gross Uinta Basin acres (2,713 net acres). Gasco now substantially increases its working interest, essentially making the deal a one-for-one exchange on a net-acreage basis. The acreage Gasco receives contains four well bores, two of which are producing, and three of which have recompletion opportunities.

Mike Decker, Gasco's Executive Vice President and Chief Operating Officer, said, "This strategic asset swap facilitates our continued efforts to consolidate and upgrade our acreage position. The transaction nets Gasco a 100% working interest in the Wasatch, Mesaverde, Mancos and deeper formations, a significant improvement from our original contractural right to earn a 25% working interest in the Wasatch. Additionally, Gasco acquires numerous potential drilling locations (100% WI), complemented by recompletion opportunities that may yield near-term cash flow."

The Uinta Basin is known to hold a significant amount of recoverable natural gas resources and has recently seen a substantial increase in drilling and production activity. More than 99 Mesaverde wells have been drilled and completed in and around Gasco's Riverbend holdings in the Uinta Basin during the past two years, with only one dry hole.

About Gasco Energy

Gasco Energy is a Denver-based natural gas and oil exploitation and development company that focuses on natural gas-rich prospects in the Rocky Mountain area of the United States. The Company currently holds interests in more than 140,000 gross acres in Utah and has two Areas of Mutual Interest agreements covering nearly 330,000 acres in Wyoming's Greater Green River Basin. Go to www.gascoenergy.com to learn more about Gasco Energy, Inc.

About Brek Energy Corporation

Brek Energy Corporation owns significant interests in emerging energy companies and assists these companies to build shareholder value. Brek Energy Corporation, formerly First Ecom.com Inc., is engaged in the oil and gas exploitation business and also provides electronic payment solutions through its wholly owned subsidiary, First Ecom Systems Limited. The Company has a national market listing and its common shares trade on the NASDAQ National Market System under the symbol BREK.

For more information, visit www.brekenergy.com contact Brek Energy Corporation at +(852) 2801-5181 or by e-mail at [e-mail] / [e-mail].

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include significant risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. For a discussion of some of these risks and uncertainties, please refer to the company's SEC filings, which contain additional discussion about those risk factors, which could cause actual results to differ from management's expectations. Brek Energy expressly disclaims any obligation to update the statements contained herein.