Novus Energy Inc NOVUF

we got an offer!!

[vienna]

Someone please confirm bnn Andrew mccreath's tweet Yang Chang petroleum to pay $500M for novus https://mobile.twitter.com/cedarbush/status/372517408147132416

[naeden99]

Wow - that would be $2.20/sh if its EV or $2.50/sh if its market cap.  Either way, that would be incredible.

[naeden99]

Reuters source: https://www.reuters.com/article/2013/08/28/press-digest-hongkong-idUSL4N0GT0DF20130828HONG KONG ECONOMIC TIMES-- Yanchang Petroleum International Ltd would fully acquire Novus Energy Inc, a Canada-based oil and gas company, for 500 million Canadian dollars ($475.94 million), according to market sources.

[naeden99]

Google translate from Hong Kong Economic Times: https://www.hket.com/eti/article/1623aed5-4cac-4f4c-b6d8-d1b5109ffb87-320646 Yanchang is halted on the HK exchange. Seems real. Although Yanchang only has a market cap of ~$500 mm itself. Sounds like its got some sort of government /conglomerate backing though. Hope its cash.. Full extension of the oil transfer 3.7 billion purchase Canadian

[vienna]

Woo hoo! The day has come! Will this have any foreign takeover issues?

[naeden99]

It will get reviewed - the threshold is $344 mm. https://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/h_lk00050.html

[cookster9]

This post has been removed in accordance with Community Policy

[Blazin_Sunfire]

WAHOO! Tomorrow will be a nice day! Anyone care to share their next pick? (message me if not comfortable on main board)

[naeden99]

LRE - trades at a similar multiple to NVS, excellent returns on their Montney oil wells.  Have some Viking as well.  Converting from NG to oil, Sprott Resource Corp owns ~35%.

[vienna]

I'm in LRE as well. That stock is just as frustrating but I believe it's time will come soon.

[naeden99]

Good things come to companies with low valuations and high returns on capital.  

[Shlinker_]

Well...i'll tell you all this. And take my advice - as I dont think Im crazy here. Tomorrow brings one of two things: 1) This story is true and NVS is halted first thing in the morning, a possible sell depending on the exact price, maybe waiting to sell on a better offer; or 2) This is a hoax and its simply a fraudulent liquidation ploy - sell tmrw if no halt or news release by NVS. Either way