GSV, Inc. Announces It has Received an Independent Engineering Report for the East Wilcox Prospectadmin
GSV, Inc. announced that it has received an independent engineering report for the East Wilcox prospect in Liberty County, Texas. GSV has an 11.918% working interest in this prospect. So far there is one well which is operating and producing in this prospect.
According to the report the total reserves in the prospect are about 7.9 BCF gross and about 660 mcf net for the adjusted revenue interest of GSV. The prospect also has a nominal amount of oil. According to the report it may take up to 5 additional wells to tap the reserves.
According to the report, as of July 1, 2008, the expected net present value of the cash generated for GSV from this prospect, after all direct expenses and discounted at 10%, is about $3.85 million USD.
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.
CONTACT: Gilad Gat
Source: GSV, Inc.