Novus Energy Inc NOVUF

RE: Results

[luckythor]

I agree that production  numbers are less than orginally forecast, however, bad weather and timing in the first half only allowed 16 wells to be completed. An additionally 20 wells were completed in Q3, with the company forecasting an additional 32 wells to be completed in Q4 (total 68) opposed to 73 orginally forecasted. Thus the shortfall in their 2012 projection forecast. The company, also states that this shortfall will be made up in the first quarter of 2013. Personally, I believe that the company has been aggressive in its drilling and mgmt. decision to spend money on upgrading facilities was perfect to provide additional value (lower cost factors and greater production availability). I am happy to see that a special meeting of the board of directors has been called and we can only speculate that it is to assess potential takeover bid(s), but I believe that mgmt. is taking this "ship" in the right direction and I am optimistic that a takeover bid will be in the neighbourhood of $1.70 - $2.00. JMO GLTA the longs.