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.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.