Thu, February 3, 2011
Wed, February 2, 2011
[ Wed, Feb 02nd 2011 ]: Market Wire
Ford e-News - Feb. 2, 2011

NOVUS ENERGY INC. ANNOUNCES 2011 CAPITAL BUDGET &; PRODUCTION GUIDANCE

 2011 GUIDANCE SUMMARY(1) Capital Expenditures $60 million Net Wells 57 Net Viking Oil Wells 48 Average Production Volumes 2,400 boe/d (80% oil and liquids) Exit Production Volumes 3,000 boe/d (85% oil and liquids) Funds Flow From Operations $34 million 2011 Year End Debt $25 million Crude Oil Pricing US $88.40 WTI Natural Gas Pricing CDN $4.04 per mmbtu Exchange Rate $0.93 CDN/US (1) The projection of capital expenditures excludes corporate and property acquisitions, which are separately considered and evaluated.