Novus Energy Inc fka NVS

[sumisu]

NOVUS ENERGY INC. ANNOUNCES 2011 CAPITAL BUDGET & PRODUCTION GUIDANCE

CALGARY, Feb. 3 - Novus Energy Inc. ("Novus" or the "Company") (TSXV: NVS) is pleased to announce that its Board of Directors has approved a 2011 Capital Budget of $60 million for exploration and development activities. This budget is expected to generate an average production rate of approximately 2,400 boe/d for the year and an exit production rate of approximately 3,000 boe/d, with approximately 80% of average production volumes and 85% of exit production volumes comprised of oil and liquids.

http://www.novusenergy.ca/en/investor/nvs-2011-02-03-pr.pdf