Novus Energy Inc NOVUF

RE:Hind site

[counterintuitive247]

What needs to happen is Novus needs to hit 5000 bbls of oil and maintain that production . They need to do it within cash flow Mainly without much more debt taken on. (currently 90 million and counting) This will demonstrate a sustainable decline. Yes the reserves are booked... Not lots of meat on the bone. The possibility of growing reserves in the companies land portfolio lies in their Alberta Viking which could be gas and the merango asset in sask which is an extension of flaxcombe. I believe 4 wells were done here in late Q2 so should hear on this development shortly. There will be a white knight eventually but production needs to move higher I think and define a sustainable corporate decline. A positive right now is the stock is cheap but negatively not to much institutional investment being made. It's all retail and if retail don't like the outcome of the process they start selling. After reading Dundees last report Domestic Energy - Commodity Update & Q2/13 Earnings Preview I noticed that Dundee is blacked out on trading on Whitecap... Just might be something going on here... Wait and see