RE: RE: Management of Novus Well the $40 netback is a huge thing for the buyer. The biggest question in play is how much better someone that buys Novus can do with the drilling and completions. A company that buys NOVUS will see more upside on optimizing Novus's current operations so this is important.
Lots of speculation, lots of rumors that no deal can be put together, theres been a bid close date? hard times in the patch. This has been gut wrenching to be part of.
It sure would be nice to hear the reserve report. As I have mentioned before the reserves are growing in the saskatchewan viking . This should hold Novus in a value of 1.20 - 1.30.
Now does novus take cash at 1.20 or paper at 1.30 ? Thats what I am wondering. Or does Novus want more then 1.20 - 1.30 and No one is interested and there is no acceptable bid. So now Cormark and FE finds a suiter to merge up to the oily assets. I will will be voting No on the proxy if this happens.
Picking this week as your week will only dissappoint. Love the enthusiasm but what will do you better is patience. Until the BOD release something you need to trust that no one knows whats happening the process is going forward to find the best shareholder value and if something is leaked; I am sure they will be investigated because insider trading is speratic and large near releases.