GSV Claims Successful Fracture of Liberty County, TX Well

GSV, Inc. reported the successful fracturing of the Friendswood No.2 RE gas well in Liberty County, Texas, in which it holds an 11.9% working interest.

The fracturing was completed on February 4, 2008. All 1150 bbls of frac water have been recovered, and the well has been tested at various pressures. On February 21, 2008, the well was put back on line full-time. Since then, it has produced around 400 Mcf per day, up from about 60 Mcf per day prior to fracturing. The well continues to produce a small amount of water, up to about 20 bbls per day.

An independent engineering company has been hired to conduct a reserve and engineering report. GSV expects the report to be completed within two weeks.