GSV, Inc. Announces Successful Completion Of Louisiana Well Expansion

WESTPORT, Conn. -- June 16, 2004--GSV, Inc. (OTCBB Symbol: GSVI) announced today that expansion work has been completed on one of the two wells in Louisiana in which GSV holds a 8.33% working interest.
On May 20, 2004 GSV and subsidiaries elected to participate in the expansion proposed by the operating company and the expansion was begun. The purpose of the expansion, which was completed on June 10, 2004, was to re-complete the well at hydrocarbon saturated zones as the previous completed zone was producing water. The well is set to allow for a through tubing to an additional zone after the hydrocarbon saturated zone deplete or water out.

The estimated cost to GSV will be approximately $74,000. The well has tested at a flow rate of 4.86 MMCF and about 200 BC per day. We expect that the expansion will result in a significant increase in cash flow and may generate additional reserves to be booked.

About GSV Inc.

GSV Inc is an oil and gas exploration company. Its recent acquisition of an interest in a Texas-based exploration company injected exciting prospects and opportunities into GSV and positioned it for future growth. 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.