GSV Completes Louisiana Well Expansion

GSV, Inc. reports that expansion work has been completed on one of the two wells in Louisiana in which GSV holds a 8.33% working interest.

On May 20, 2004 GSV and subsidiaries elected to participate in the expansion proposed by the operating company and the expansion was begun. The purpose of the expansion, which was completed on June 10, 2004, was to re-complete the well at hydrocarbon saturated zones as the previous completed zone was producing water. The well is set to allow for a through tubing to an additional zone after the hydrocarbon saturated zone deplete or water out.

The estimated cost to GSV will be approximately $74,000. The well has tested at a flow rate of 4.86 MMCF and about 200 BC per day. We expect that the expansion will result in a significant increase in cash flow and may generate additional reserves to be booked.