Novus Energy Inc NOVUF

RRX @ New 52wk high

[jdgreat1]

we are flowing 4250

use $75,000 / b, we are at $319M, divided by OS, we are at $1.68 which is about o.5 of RRX's share as sb already stated.

 

Hope it is coming through soon....\

 

GLTA

[Shlinker_]

We'll see, but Im guessing you can throw away all your theories on RRX.  RRX would not be trading at 52 week highs imho. I assure you the current holders of RRX would want the SP lower than what it currently is due to the huge increase in outstanding shares. They'd be trading lower, not higher.

[Shlinker_]

Now on the other hand, we could see NVS do a reverse take-over of RRX...just like Guide did with Westfire. All shareholders there got the short end of the stick imho, yes, thats me too.

[jdgreat1]

Right now, it is trading at $3.40 as high as $3.44 on almost 600K volume. i think something is brewing....      

[largeinvest]

The RRX production is in the exact same area as NVS and yet the market values it at DOUBLE!   In fact you could throw a stone from an RRX well and hit a NVS well that is how close they are. 

[luckythor]

JD, I like your theory, but you need to take into account option shares bring the share count to 212M, additional land reserves, tax saving shelter and debt. If we factor these items in the equation, NVS should sell at a higher share price. Also, Shlinker statement that NVS could do a reverse on RRX is feasible, but I do not think likely. Using the article (Neil R. - RRX) that was provided by

[jdgreat1]

I just threw a real quick calucaltion (estimation, low end pricce).   I believe that NVS worth $2 buck too. But if they want a deal now, $2 gives 100% premiue, that is what I don't believe.   if deal happens now, 0.5 RRX sounds reasonable!

[luckythor]

largeinvest, I agree with your statement and it appears to me that production boe's is comparable which should put NVS at an evaluation of 2.40 -2.70 if you are comparing apples to apples. For some reason the market thinks NVS is a lemon to RRX, an opinion that I do not share.

[largeinvest]

I think the market is thinking that NVS lands are not in the "sweet spot".  I have no idea where they got that from, a read of the recent engineer reports tell us otherwise.    Sproule has provided Novus with an updated independent Contingent Resource Assessment for the Company’s Dodsland Viking light oil assets (the “Contingent Resource Assessment”), the intent of which

[jdgreat1]

Dec.18th, RRX bought deal (First Energy and Cormark as co-underwritesr)...   The syndicate of underwriters was co-led by Peters & Co. Limited and FirstEnergy Capital Corp. and    included, Dundee Securities Ltd., Desjardins Securities Inc., Paradigm Capital Inc., CIBC, National  Bank Financial Inc., Cormark Securities Inc., and Scotia Capital Inc.