GSV Reports Pipeline Tie-in of SE Texas Well

GSV, Inc. on Monday announced the successful pipeline tie-in of the Friendswood No. 2 RE gas well in Liberty County, Texas. GSV's subsidiary, Century Royalty, LLC, has a 11.98 % working interest in the well. Re-entry of the well was completed in October 2006.

GSV expects to receive an independent engineering report within the next few days, and a further announcement regarding the estimated size and projected cash flow from the well will follow once the report is available. Based on initial reports, however, GSV expects that up to four additional wells may be required to obtain maximum flow from the anticipated reserves. Century Royalty, LLC and its partners are making preparations to commence drilling a second well near Friendswood No. 2 in the near future.

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.