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Huge Volume lately,and it would appear Novus has established a $1+ beachhead!
imo,
futr
NOVUS ENERGY INC. ANNOUNCES R ESULTS OF CONTINGENT RESOURCE ASSESSMENT FOR ITS VIKING LIGHT OIL ASSET IN THE DODSLAND AREA OF SASKATCHEWAN
December 6, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-12-06-pr.pdf
NOVUS ENERGY INC. ANNOUNCES STRONG THIRD QUARTER 2010 RESULTS AND EXPANDED CREDIT FACILITY
November 22, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-11-22-q3-pr.pdf
Novus Energy Inc. - Related Quotes
http://www.theenergyreport.com/pub/co/2835
DESCRIPTION: Novus Energy Inc. is pursuing large original-oil-in-place opportunities that have yielded low recovery factors to date. Moving quickly has enabled the company to gain strategic land positions in some of the most prominent oil resource plays in Western Canada: The Viking, Bakken and Cardium. All three offer significant upside through the development of high-netback, light oil reserves. With a large inventory of horizontal drilling locations on its resource plays, Novus is well positioned for high-impact growth.
WEBSITE: http://www.novusenergy.ca
Corporate Presentation (9/20/10)
http://www.theenergyreport.com/cs/user/download/co_file/1837/corppres92010.pdf
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
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Related Quotes
The Energy Report Interview with Luc Mageau (11/02/10)
"Novus is spending considerable time in the Saskatchewan Viking. It's amassed 82 sections of land (or ~52,500 acres) and more than 200 future drilling locations. It's going to drill another 11 wells this year and double production year-over-year. All of that growth is essentially going to come from the Viking.
Novus is about 1,000 bpd right now. It's expected to go up to the 2,000-bpd range by the end of the year. . .Novus has $17 million of cash in the bank. Over and above that, it's got a debt line that's unutilized and should almost exit the year without having to use that. Going into next year, between that and cash flow, it should be all right. . .The beauty of the Viking is that the wells aren't very expensive to drill. Each well is $1–$1.2 million to put into production. By deploying $20 million into a play like this, producers can get 16–20 new wells and increase production without having to spend a lot of money or go back to the market for capital very often."
Wendy Liu, Desjardins Securities (10/13/10)
"Viking supercharged, with explosive growth potential; initiating coverage with a Buy rating and C$1.25/share target As Viking development continues to advance, we believe there is material production and reserves growth to be realized. In a scenario where 'more is better,' enter Novus. It is one of the few (almost) pure Viking players in the sector, and we estimate it has among the highest leverage to the upside potential from this resource play.
On production and cash flow metrics, Novus trades at a slight premium to its peers; but, given the early stage of resource development that characterizes the company, we believe a NAV measure should be considered. As the stock trades at only 0.7x our combined resource-build NAV estimate, we see a good opportunity to gain exposure to the Viking play."
Kirk Wilson, Clarus Securities (10/07/10)
"Viking results to date appear encouraging with 60-day average production rates of ~70 boe/d across its first five wells. At an all-in well cost of $975K per well, the economics appear attractive. Should these results be repeatable in the long run, the Viking at Dodsland will underpin Novus' growth moving forward. In Q410, NVS plans to drill 11 net horizontal Viking oil wells at Dodsland, with potential to increase that number if weather conditions permit. NVS has also participated in 3.5 net non-op Viking wells that are due to be on production in early Q410.
On a forward-looking basis, we have NVS trading at a discount to peers based on a 2011E EV/DACF ratio of 3.3x. Having a large oil resource play with repeatable and attractive economics, this valuation gap could diminish as the company continues to execute its Viking drill program and achieves additional economies of scale through land acquisitions. We reiterate our BUY recommendation with a $1.55 target price."
Michael Zuk, Stifel Nicolaus (10/06/10)
"Novus now controls ~82.25 net sections in Dodsland. The company, like many other producers, was hit hard by wet weather during Q310, causing substantial delays to its H210 drilling program. We are encouraged by the company's increased exposure to the Viking in Saskatchewan, as well as its aggressive drilling strategy for a company of its size. We take note of the company's inference that it will still be drilling a minimum of 11 wells in Q410 but could drill additional wells at Rocanville and Dodsland. We reiterate our $1.10 target price and Buy rating."
Jonathan Fleming, Cormark Securities (10/06/10)
"Novus now has 82.25 net sections of land in the Dodsland area. The company also announced that it had commenced its fall drilling program in the Dodsland area with plans to drill a minimum of 11 horizontal Viking oil wells in Q410. Novus may increase the number of wells to be drilled with favorable weather conditions. . .The company has also recently participated in 7 gross (3.5 net) horizontal Viking oil wells at Dodsland (tie in expected in Q410) and a prospective 35% WI Bakken oil well at Rocanville. Novus currently has $16 million of positive working capital and unused lines of credit to fund its growth. We reiterate our BUY recommendation."
Luc Mageau: Bullish on the Viking Formation
Source: Brian Sylvester of The Energy Report 11/02/2010
http://www.theenergyreport.com/pub/na/7758
Very Ambitious Development plan for the Remainder of 2010-2011-
NOVUS ENERGY INC. ANNOUNCES EXPANSION OF ITS DRILLING PROGRAM IN ITS DODSLAND SASKATCHEWAN CORE AREA
November 2, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-11-02-pr.pdf
NOVUS ENERGY INC. ANNOUNCES STRATEGIC FARM-IN AGREEMENT IN ITS CORE AREA OF DODSLAND SASKATCHEWAN AND OPERATIONAL UPDATE
October 6, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-10-06-pr.pdf
Novus Energy Inc. Announces Normal Course Issuer Bid
September 9, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-09-09-pr.pdf
NOVUS ENERGY INC. ANNOUNCES SECOND QUARTER 2010 RESULTS
August 27, 2010
http://www.novusenergy.ca/en/investor/nvs2010-08-27-q2.pdf
Novus Energy Inc. announces operational update and closing of acquisition in its Dodsland Saskatchewan core area
July 8, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-07-08-pressrelease.pdf
NOVUS ENERGY INC. ANNOUNCES SUCCESSFUL CLOSING OF PREVIOUSLY ANNOUNCED ACQUISITIONS
June 2, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-06-02-pressrelease-web1.pdf
NOVUS ENERGY INC. ANNOUNCES FIRST QUARTER 2010 RESULTS
May 27, 2010
http://www.novusenergy.ca/en/investor/nvs-q1-2010-pressrelease.pdf
NOVUS ENERGY INC. ANNOUNCES EXPANSION OF ITS DRILLING
PROGRAM IN ITS DODSLAND SASKATCHEWAN CORE AREA
Calgary, Alberta, November 2, 2010 – Novus Energy Inc.
(TSXV: NVS) is pleased to announce that it will be expanding its previously announced fall
drilling program in the greater Dodsland area of Saskatchewan targeting its Viking light oil
resource play. The Company is currently drilling the eighth well in the newly expanded 15 well
drilling program, which will be composed of wells in the Company’s Dodsland, Flaxcombe and
Kerrobert sub-regions. The Company anticipates that all 15 wells will be drilled and completed
by the end of November, with production from these wells expected to be on stream prior to year
end.
Pursuant to the past success the Company experienced in its first phase of drilling in the greater
Dodsland area, Novus will be drilling the majority of its wells in the current program with
approximately 600 meter horizontal lateral legs using monobore technology. Drilling operations
are expected to take between three and four days per well. Novus will be completing the
majority of its wells employing ported collars and 12–15 stage energized foam fracs of 12–14
tonnes of sand per stage. The Company anticipates that the wells in this program will be placed
on production in approximately 35 days from the commencement of drilling.
With the expansion of the 2010 capital program, Novus now expects Capital Expenditures for
fiscal 2010 to total approximately $53,000,000. The Company is forecasting an exit rate for
2010 of approximately 2,000 boe/d, with 70% of production to be comprised of oil and liquids.
Novus exited the third quarter of the year producing approximately 1,400 boe/d, with
approximately 58% of production being comprised of oil and liquids. During the second quarter
of 2010, the Company’s average production for the quarter was 774 boe/d, with approximately
42% of production coming from oil and liquids. Novus is pleased with both its increasing
production levels and increased weighting of its production mix to oil. It is Novus’ intention to
release full third quarter 2010 results prior to market opening on Monday, November 22, 2010.
Novus continues to actively expand its already significant land position in the Dodsland area.
Through several recent crown sale purchases and farm-in transactions, the Company now
controls in excess of 105.25 net sections (67,360 net acres) of prospective Viking oil acreage in
its core area. Novus has now identified over 560 net Viking oil locations on its land base, and
believes that it has amassed a significant recoverable light oil resource.
Novus continues to be pleased with the production growth it has achieved over the past year and
a half, as well as its transformation to a light oil weighted producer. The Company has
assembled a sizable inventory of repeatable, low risk, light oil drilling opportunities. During
2010, the Company has amassed considerable experience in drilling and producing its core
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Viking light oil resource play. Novus has been focused on continually lowering its drilling and
completions costs, building the necessary area infrastructure to support stable, low operating cost
production, and employing new completion techniques to continually improve the economic
performance of its wells. Novus believes that with further innovation, it may be able to diminish
its well costs in next year’s drilling program, and provide for meaningful improvements in
already robust economics.
Based upon Novus’ view of production rates, recoverable reserves, and drilling and completion
costs in the greater Dodsland area, the Company will maintain an aggressive program on drilling
its current acreage, and will continue its efforts to further consolidate and expand its position
within the area through acquisitions.
The Company is not only pleased with the growth it has demonstrated in production and
reserves, but also in its ability to attract and retain highly skilled, key employees. The Company
has recently added to its technical team to ensure that the Company is properly prepared for the
rapid growth it has been experiencing. With respect to this recent activity, 7,000,000 options
have been granted to certain employees, officers and directors, including 5,750,000 to insiders of
the Company. Each option entitles the holder to the right to acquire one common share of the
Company at an exercise price of $0.85 per share and will expire five years from the date of issue.
One quarter of the options vest every six months, with the first tranche vesting six months from
the date of grant.
Novus Energy Inc. is a well positioned, junior oil and gas company with a proven management
team committed to aggressive, cost-effective growth of high netback light oil reserves and
production. Novus will continue to grow through a targeted acquisition and consolidation
strategy coupled with development and exploration drilling. Novus’ current financial position of
having $12 million of cash, no debt, and unused lines of credit will allow for the exploitation of
its drilling inventory and expansion of the Company’s opportunity suite through internally
generated prospects and strategic light oil acquisitions.
Novus Shares trade on the TSX Venture Exchange under the symbol NVS. Novus currently has
approximately 166.4 million common shares outstanding.
FOR FURTHER INFORMATION PLEASE CONTACT:
NOVUS ENERGY INC.
Hugh G. Ross
President and CEO
(403) 218-8895
Ketan Panchmatia
Chief Financial Officer
(403) 218-8876
Julian Din
VP Business Development
(403) 218-8896
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
futr
NOVUS ENERGY INC. COMPLETES $25.0 MILLION BOUGHT DEAL FINANCING
May 18, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-05-18.pdf
NOVUS ENERGY INC. ANNOUNCES STRATEGIC FARM-IN AGREEMENT IN ITS CORE AREA OF DODSLAND SASKATCHEWAN
May 6, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-05-06.pdf
Novus Energy Inc Announces $20 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwire - April 27, 2010)
http://www.novusenergy.ca/en/investor/nvs-2010-04-27-pr.pdf
NOVUS ENERGY INC. FILES ANNUAL INFORMATION FORM
April 26, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-04-26-pr.pdf
NOVUS ENERGY INC. ANNOUNCES YEAR END 2009 FINANCIAL AND OPERATIONAL RESULTS
April 23, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-04-23.pdf
Novus Energy Inc. announces the acquisition of assets in its core area of Dodsland, Saskatchewan
CALGARY, April 19, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-04-19-pressrelease.pdf
NOVUS ENERGY INC. REPORTS SIGNIFICANT 2009 RESERVES & PRODUCTION GROWTH AND PROVIDES OPERATIONAL UPDATE & 2010 GUIDANCE
Calgary, Alberta, April 6, 2010
http://www.novusenergy.ca/en/investor/press_release_-_apr_06_10_final.pdf
Calgary, Alberta (TSX Venture Exchange: “NVS”)
Novus Energy Inc. announces acquisition of private company with assets in its core area of Dodsland Saskatchewan and provides an operational update
March 15, 2010
http://www.novusenergy.ca/en/investor/nvs-2010-03-15-pressrelease.pdf
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NOVUS ENERGY INC.
Novus is a junior oil and gas company that has moved quickly to gain strategic land positions in some of the most prominent resource plays in Western Canada. These plays offer significant upside through development of primarily high netback, light oil reserves. Novus has a large inventory of horizontal locations, and an aggressive drilling program for 2010.
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