GREY:NOVUF - Post by User
Comment by
Byteson Apr 24, 2010 12:51pm
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Post# 17027568
RE: WFE vs NVS
RE: WFE vs NVSNovus is in a class of it's own.
Read the Westfire financials, presentations. I took a glance. (Asked my broker about Westfire - red flags was the answer.) From my 5-min glance at their info (Do your own Diligence):
* Novus is drilling their wells at HALF the cost of Westfire. Novus $600 -$700k. Westfire - $1.2m. Ouch.
* Novus is drilling 35+ Viking Horizontal wells this year. Westfire - only 17.
* Novus will make a profit this year, not spending morethan they are making. Westfire is operating at a loss.
* Novus is almost 100% light oil. Westfire is heavily into gas production.
* Novus Viking (Dodsland) land is almost 100% of their holdings. As close to a Viking 'pure play' as you are going to get. Westfire, less than 50% of their land is Viking.
* Novus management is exceptional - aggressive, driven, intelligent, exceeding their aggressive business plan goals! Westfire, I do not know.
* Novus is undervalued. Westfire is selling far above NAV.
* Novus has just started promotions. They are still fairly unknown.
* Novus is the stock to be holding as the Viking light oil play becomes as well-known as Cardium and Bakken. The Viking is the 2nd best light oil play in Canada. And this is the year.