Goldnev Announces Turner Valley Production Operations Update

CALGARY, Jan. 6 /CNW/ -- CALGARY, Jan. 6 /CNW/ - Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSXV: GNZ) is pleased to report the December 2010 production results on the recently completed workover program at its 13-21-20-3WM oil well on the Corporation's 50.4 percent owned Turner Valley property.
The total gross oil production recovered for December 2010 was 566 (net 285) barrels of light oil with the latest production test resulting in 22 b/d of light oil and 70 mcf/d of natural gas.
The 13-21-20-3WM well commenced production on July 31, 2010 and has produced consistently with gradual improving rates during August, September and most of October, but was shut in most of November along with the rest of the Turner Valley field, due to the shut down of the Quirk Creek gas plant
The December 2010 production results are the best to date, which is very encouraging considering the month prior shut-in and the pump intake pressures have been decreasing steadily, allowing for a larger drawdown on the formation, which is expected to cause the oil production to continue increasing over time.


    
    About Goldnev
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Goldnev Resources Inc. is a public energy company focused on the exploration and development of conventional and unconventional hydrocarbons in northeastern British Columbia, southwestern Alberta and east central Saskatchewan. Goldnev shares trade on the TSX Venture Exchange under the symbol "GNZ."
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Forward Looking Statements

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For further information on Goldnev, please visit our website at www.goldnevresources.com, or email at [e-mail] or contact: Mr. Marc Dame, President and Chief Executive Officer, Goldnev Resources Inc., Telephone: [phone], Facsimile: [phone], E-mail: [e-mail], Suite 485, 708 - 11th Avenue S.W., Calgary, Alberta, T2R 0E4

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