Brek Energy Signs Agreement To Acquire Land in the Rocky Mountain Natural Gas Fairway.

Business Editors

HONG KONG--(BUSINESS WIRE)--May 23, 2002

Company Will Redeem Its Gasco Shares for Up to 30% of

Gasco's Mineral Rights

Brek Energy Corporation, (NASDAQ: BREK, BSX: BREK, BREK BH), and individual shareholders today announced a letter of intent to sign a definitive agreement with Gasco Energy to exchange their equity position in Gasco Energy for up to 30% of Gasco's interest in oil and gas acreage.

Brek will tender 500 shares of Gasco Preferred Stock and 4,750,000 shares of Gasco Common Stock and the individuals will tender 1,500,000 shares of Gasco Common Stock in exchange for 25% of Gasco's acreage, plus an option to earn a further 5% upon completion of a ten-well drilling program. Furthermore Brek has entered negotiations with the individual shareholders to acquire their respective acreage position in exchange for Brek Shares.

Prior to execution of the definitive agreement, the companies will identify the acreage to be conveyed to Brek and the individual shareholders. Gasco currently owns more then 115,000 gross acres in the Uinta Basin of Utah and has approximately 120,000 net acres in the Greater Green River Basin of Wyoming.

In pursuing this agreement, Brek will not pursue the agreements it had entered into previously with various Gasco shareholders to acquire 7,000,000 shares in Gasco in exchange for 19,250,000 Brek shares.

Gregory Pek, Brek Energy's CEO and Director, states, "Brek is acquiring approximately 50,000 net acres in two Rocky Mountain basin-centered natural gas accumulations. This agreement will give Brek a hand in its own destiny. The timing on the conversion of our equity position to land position just made sense. Additionally, the Board of Directors has identified a number of candidates to round out Brek's North American management team. I am extremely excited about the opportunity to work with people of such caliber in the energy sector."

About Brek Energy Corporation

Brek Energy Corporation owns significant interests in emerging non-conventional energy companies and assists in building these companies and their assets to their full potential. Brek Energy Corporation, formerly First Ecom.com Inc., also provides electronic payment solutions through its wholly owned subsidiary, First Ecom Systems Limited. The Company's 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].

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.