WESTPORT, Conn., Oct. 5, 2006 (PRIMEZONE) -- GSV, Inc. (OTCBB:GSVI) announced today the successful completion of the Friendswood No. 2 RE gas well in Texas. GSV's subsidiary, Century Royalty, LLC, participated with a 11.98% working interest in the reentry and deepening of the well, located in Liberty County, Texas, to a total depth of 11,390 feet. The well was successfully completed in an upper Wilcox zone. The well is awaiting pipeline tie-in connections and production is expected to commence shortly after the connections are completed.
GSV is currently awaiting the completion of an independent engineering report to establish the estimated size and projected cash flow to be generated by the well.
About GSV, Inc.
GSV owns investments in oil and gas assets. In addition to managing its current assets, GSV is actively seeking new acquisition opportunities in this industry.
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