GREY:NOVUF - Post by User
Comment by
buyhighsellhighon Feb 04, 2010 12:09am
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Post# 16750472
RE: News Release
RE: News ReleaseI like where this is heading.
They are acquiring 25.5 sections of Viking land, 214 boe/d production (100% gas). BUT, after acquisition - Novus will have ZERO debt and $26MM working capital. I love zero debt companies.
Also 850 boe/d production (40% oil) and 115 net drilling locations (Viking horz).
This gets better - results from 6 wells are coming out in less than 30 days. These results won't be near as prolific as the Cardium but this doesn't mean anything on an asset per asset basis. NPV's in the Viking are looking more lucrative than Cardium.
Get in while you can.