GSV, Inc. Announces Commencement of Drilling


WESTPORT, Conn., June 14, 2006 (PRIMEZONE) -- GSV, Inc. (OTCBB:GSVI) announced today that it has been notified that the working interest partnership of which its affiliate, Century Royalty LLC, is a member expects to commence drilling of two previously identified Texas gas prospects. The first prospect is anticipated to be drilled within the next two weeks and the second shortly thereafter.

As the costs of drilling these prospects are expected to exceed Century Royalty's carried interest in the working interest partnership, GSV expects that it may need to contribute cash of approximately $200,000 to preserve its participation rights in the first prospect and that an additional contribution of approximately the same amount will be needed for the second.

In the event that the wells drilled in these prospects are dry, GSV may decide to write off some or all of its interest in the geological studies that Century Royalty holds that pertains to the Texas prospects.

About GSV, Inc.

GSV, Inc. owns investments in oil and gas assets. In addition to managing its current assets, GSV is actively seeking new acquisition opportunities in this industry.

Forward-Looking Statements

Some of the statements in this press release are forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements about our plans, objectives, expectations, intentions and assumptions that are not statements of historical fact. You can identify these statements by the following words: "may," "will," "should," "estimates," "plans," "expects," "believes," "intends" and similar expressions. We cannot guarantee our future results, performance or achievements. Our actual results and the timing of corporate events may differ significantly from the expectations discussed in the forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. Potential risks and uncertainties that could affect our future operating results include, but are not limited to, our limited operating history, history of losses, need to raise additional capital, and the high risk nature of our business, as well as other risks described in our most recent annual report on Form 10-KSB filed with the Securities and Exchange Commission.



            

Contact Data