To Gase Out is either:
a)to fall asleep in the middle of a circle of conversing friends
b) to wipeout in Skate (the video game) by doing an ollie too late, hitting your trucks on a curb, and having your body fly into a pole.
c) to be too tired to hang out with friends.
"Is he really asleep?"
"Yeah he just Gase'd out."
b) Someone ollies late in skate hits their trucks and flies into a telephone pole.
"Woah! you totally just Gase'd Out!"
c)"Hey man do you want to hang out tonight?"
"Not guys i'm really tired."
"dude' You're Gase'ing Out on me"