Resuts out / amasses new acreage
Calgary, Alberta, August 14, 2012 – Novus Energy Inc. ("Novus" or the "Company") (TSXV: NVS) announces that it has filed its unaudited condensed interim financial statements and management’s discussion and analysis ("MD&A") as at and for the three and six months ended June 30, 2012. These may be accessed through the SEDAR website www.sedar.com and at the Company’s website www.novusenergy.ca.
Novus is pleased to report that its 2012 Viking oil drilling program continues to progress on schedule. The Company has drilled, with 100% success, 34 Viking oil wells in the Dodsland area of Saskatchewan, with 26 completed thus far. Corporate production should exceed 3,300 boe/d within the next ten days as newly completed wells are placed on stream. Production will steadily increase through the balance of the year as additional wells are drilled and placed on stream.
In addition to the 124 net sections of Viking rights the Company holds in the Dodsland area of Saskatchewan, Novus has recently amassed 46 net sections of crown lands prospective for Viking oil in the Provost area of Alberta, on trend with the Company’s existing Dodsland assets. The lands the Company has acquired are proximate to historical vertical Viking oil production and recent successful horizontal drilling activity on both sides of the Alberta/Saskatchewan border targeting Viking oil. Novus believes the assembled acreage meaningfully increases the Company’s future drilling and development inventory. Drilling on these lands is planned for early 2013.
Full report https://www.novusenergy.ca/en/investor/press_release_q2_2012_-_aug_14_12.pdf