Novus Energy Inc NOVUF

RE:RE:RE:RE:It's a small oil patch...

[Pokerchamp]

I understand your frustration, however I have a different take on things.

1.  We must assume that the Board is acting in the best interest of shareholders and the company.  Anyone who doesn't trust the Board should probably sell.

2.  They did release Q1 and will release Q2 tomorrow, so we (will) know EXACTLY how the company is performing and will have the same financial information as if there were no "strategic review" going on.  So we and the market are not in the dark as to the company's performance.

3.  If there was no serious discussion, the company would have to and would have terminated the process.  Since they have not done that it's clear there are serioius discussions under way.

4.  If discussion are under way all thast the company could say is "We're still in discusssions".  Since they have not ended the process that statement does not need to be made it can be assumed.

Therefore I don't see what else the company should be doing that it's not doing.

I think the valuation has to do with the depletion issue.  The company is drilling like crazy and building up debt to keep ahead of wells that are steeply reducing their production.  Companies trying to assess depletion rates and the resultant valuation is what's depressing the sp and others' assessment of the value of the company.

Let's hope they can reach an agreement on the company's value so the process can be successfully terminated.  I agree with an earlier and said about the same thing lately that the price is likely to be in the 1.15 to 1.25 range.  I'd be happy with that.