WESTPORT, Conn., Feb. 26 /PRNewswire-FirstCall/ -- GSV, Inc. (OTC Bulletin Board: GSVI) announced today 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.

About GSV, Inc.

GSV, Inc. is an oil and gas exploration company that owns interests in two Louisiana oil and gas wells and in Texas oil and gas properties, as well as a one-third interest in a Texas limited liability company that manages the Texas properties. 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"
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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: Gilad Gat, +1-203-221-2690

SOURCE GSV, Inc.