SVI StorageVault Canada Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


Storm Ventures International Inc. ("SVI") of Calgary, Alberta (acting as
contractor and the National Oil Company, Entreprise Tunisienne D'Activites
Petrolieres (ETAP) as a holder of the Remada Sud Permit) announces the
preliminary test results from the TT2 Oil discovery on the Remada Sud permit in
southern Tunisia.


The exploration well reached a total depth of 1500 meters in the Ordovician
Kasbah Leguine formation and encountered hydrocarbons from the Ordovician Bir
Ben Tartar Formation. Three intervals in the Bir Ben Tartar were tested. The
lowest interval tested small amounts of formation water and was abandoned. The
upper two intervals attained combined flow rates of 300 Bbls/d of 45 degree API
oil and 200 Mcf/d of associated gas upon perforation without stimulation.


Core data and pressure buildup analysis indicated the reservoir has relatively
low matrix permeability and the well was hydraulically fractured. Initial
results indicate the well has significant inflow post stimulation but has
demonstrated higher water cuts than seen initially. There is still approximately
700 Bbls of load fluid left to recover. SVI is mobilizing the equipment required
to safely evaluate the post hydraulic fracture potential of the well and
determine a stabilized rate and water cut. We will release additional
information on the potential commerciality of the discovery once it has been
determined.


Following the evaluation of the Bir Ben Tartar formation the partners intend to
evaluate an uphole secondary objective that provided strong hydrocarbon shows
while drilling.


Following the completion operation the well will be suspended pending further
appraisal of the discovery and submission of a development plan to ETAP.


The discovery of light oil in a large structure at relatively shallow depths on
the eastern side of the 1.2 million acre block confirms the presence of a mature
source rock and effective hydrocarbon migration route increasing the chance of
success for several other prospects identified on the block. The TT2 well was
drilled on a large Ordovician structure which has an aerial extent of
approximately 70 square kilometers and a hydrocarbon column of approximately 57
gross meters. The initial results received from the drilling and testing
information acquired to date indicates the reservoir may be an ideal candidate
for the application of horizontal drilling technology in the future development
plans for the block.


This news release is not for dissemination in the United States or to any United
States news services. The common shares of SVI have not and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold in
the United States or to any U.S. person except in certain transactions exempt
from the registration requirements of the U.S. Securities Act and applicable
state securities laws.

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