Novus Energy Inc NOVUF

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Novus Energy Inc. grants incentive stock options

12:47 PM ET, February 9, 2010

CALGARY, Feb. 9, 2010 (Canada NewsWire via COMTEX) --/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

Novus Energy Inc. (TSX Venture Exchange: "NVS") ("Novus" or the"Company") announces that it has granted a total of 4,100,000 optionsto certain directors, officers and employees of the Company, includingan aggregate of 2,875,000 options that were granted to insiders of theCompany. 

Novus has undergone a rapid expansion, and has recently hiredkey personnel in its engineering, geological, land, operations, andaccounting departments. These incentive stock options are a keycomponent in Novus' overall compensation package, and are utilized toattract and retain top performing individuals within each keydiscipline.

Each option entitles the holder the right to acquire one commonshare of the Company at an exercise price of
.88 per share and willexpire five years from the date of issue. One quarter of the optionsvest every six months, with the first tranche vesting six months fromthe date of grant.

Novus would like to announce that effective February 15, 2010 itwill be relocating. 

To properly accommodate its recently expanded team,Novus will be moving its office to 1200, 520 - 5 Avenue S.W., Calgary,AB, T2P 3R7.

Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.

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SOURCE: Novus Energy Inc.

Hugh G. Ross, President and CEO, Telephone: [phone], Fax: [phone];
Ketan Panchmatia, VP Finance and CFO, Telephone: [phone], Fax: [phone]