In 1962, he recorded an album of jazz standards for Ace Records entitled "Gil Peterson Sings Our Last Goodbye" (Ace LP 1024). Peterson penned the title song, and the LP included musical accompaniment by Bobby Troup and Herb Ellis. Ace was one of the first successful labels out of New Orleans, even though it was headquartered in Jackson Mississippi, 196 miles away. The actual recordings for most of the Ace releases were done at Cosimo Matassa's studio in New Orleans. Peterson's album was the only Ace LP to be issued in stereo, with a bar across the cover stating "Stereophonic".
