RE: Interesting close well its hard to say now. the company has really left the public in the dark since Jan 15. the uptick is some investor hoping the long weekend brings news. if it doesnt those shares will be sold off next week if I was a guessing man.
What we know is the company always has been good to us with hitting their targets. Netbacks are 47 - 50$ a bbl. They Have always grown their reserves. The company will probably exit 2013 with 5000 boe...77% oil.
If your in the oil and gas business and understand the sask viking its a great play. Low risk, low operating costs and still lots of drilling available to do on the Novus lands. There reserves are based on 8 wells per section.....All recent reserve reports in the area have been based on 16 wells.
Todays juniors are faced with new investment banks that want guaranteed returns. Novus has the asset. This asset can easily be drilled on cash flow once they achieve that 5000 boe mark. This is why i liked the company. But must be tough to negotiate a 300 million $ deal in such a turbulent market. My 2 cents.
I hope that my patience pays here.