New Posting on GNZ website

The Goldnev Team would like to advise you that on May 14th, 2010, the Corporation announced it had finalized the restructuring of its Turner Valley Project plus exercised its option to acquire a 46% working interest in 640 acres of land in Turner Valley. This acquisition is a major step forward in the Corporation’s plan to increase shareholders value by focusing on significantly increasing its oil and gas production and reserves in 2010.

The acquisition of the Turner Valley leases will allow the Corporation to re-enter a previously prolific oil well with the expectation of generating production of between 100 – 200 gross barrels a day of light oil in July 2010, which if successful allows the Corporation to generate significant cash flow, reserves and book value. The well we will be re-entering was originally drilled by Shell and includes a four mile pipeline, the only one in the area, which today would cost $1,500,000 to install. Therefore, for the cost of re-entering the well, the Corporation has acquired a property in which over $4,000,000 has already been spent. In this way, if the re-entry is successful the reserves and finding costs will be very low and the well could be paid out in less than six months.

Should you have any questions on details of the acquisition, the re-entry program or information on any of the Corporation activities, please let us know.

See Press Release

Yours truly,

Marc Dame
President & CEO
Goldnev Resources Inc.