Novus Energy Inc NOVUF

a great news release

[rakethis1]

Not sure what some of you daydreamers were expecting. This is a low cost, low productivity simple play. Look at their operating cost numbers - absolutely stellar. The netbacks are also stellar. Drilling is on pace and today they announce the company is more or less for sale.

It looks pretty obvious that they will sell their Saskatchewan properties and spin out their Provost properties. The facilities allow anyone that buys them to keep costs very low and still expand production. The tax pools should make it attractive to any of the high dividend oriented producers like Twin Butte or even a CPG. 

Looking forward to see what the offer and spinco will look like.