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Wednesday, August 28, 2013

Another Article On the Pending Novus Transaction

Translated from a Chinese site so it doesn't read well:

http://hk.eastmoney.com/news/1532,20130828318465419.html
According to the Hong Kong Economic Times reported that one of the four largest oil enterprises to extend the Group's overseas platform to extend oil ( market area) International (00346), and finally began to expand outward forces. According to market sources, to extend the International denounced the proposed 500 million Canadian dollars (about 2.9 billion yuan) to purchase the entire Canadian energy companies listed on Novus, is expected to be announced shortly.
  Reporters had to extend, respectively, in relation to the acquisition of Novus International and inquiries, but none before the deadline for reply.
Intends to issue bonds all-cash acquisition of parent company
  According to market sources, to extend the international and Novus has negotiated recently, has finally reached an agreement, plans to spend 500 million Canadian dollars, to the latter put the whole purchase. To make trading more smoothly, more specifically to extend international International Canada Inc. was formed to extend.
  Financing, the news that will extend the international extension of the major shareholder group through the issue of convertible bonds (CB) raised 500 million Canadian dollars, and then all-cash acquisition Novus.CB conversion price of $ 0.5 per share, representing an extension of the International Yesterday's closing price of 0.39 yuan a premium of 28.2%.
  Novus currently listed in Canada, worth about 165 million Canadian dollars, it is suggested that three times the market value for its price.
  It is reported that the acquisition yet China and Canada regulatory and court approval, also extend to the majority of shareholders accepted internationally, but also to get the consent of two-thirds of Novus shareholders, is expected to complete the transaction in November.
  Message added that the Novus finally accepted if proposed acquisition of another company or the Novus board rejected or modify its proposal, Novus International Payments shall extend $ 10 million termination fee; extend international event possible to obtain Chinese regulatory agencies or major shareholder approval , answerable to Novus pay $ 500 million.
  It is understood, Novus last December, has hired financial advisers, looking for ways to enhance shareholder value. Novus Board of Directors has unanimously agreed to extend the international sale; if possible before the deadline extended internationally to raise sufficient funds to pay compensation of $ 7.5 million.
  Novus oil and gas assets are located in Canada, Saskatchewan and Alberta, the first half of 30.57 billion barrels of oil and gas production. Prolong International holds two oil blocks in Madagascar, as of the end of June had cash and bank ( marketarea ) balance of 690 million yuan.
  HKEx data show that as of June 8 this year, to extend the Group holds a 29.96% equity interest in extending international, for the latter's largest shareholder.Group profits last year to extend 1,620 yuan, is the largest oil enterprises in Shaanxi Province.

Novus Halted - News Pending!

This is the largest position I have.  Could be a big winner, fingers crossed.........

Tuesday, August 27, 2013

Novus Energy To Be Acquired By Yanchang Petroleum for $500 Million Canadian?

Don't know how reliable this is, but it is more than double the current share price if true....

Yanchang Petroleum International Ltd would fully acquire Novus Energy Inc, a Canada-based oil and gas company, for 500 million Canadian dollars ($475.94 million), according to market sources.

Link: http://www.reuters.com/article/2013/08/28/press-digest-hongkong-idUSL4N0GT0DF20130828?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43

Monday, August 26, 2013

Novus Energy's Last Public Presentation

Here is the last presentation slides available prior to "value optimization process" beginning:

Friday, August 23, 2013

Novus Energy Confirms It Is In Exclusive Negotiations

VALUE OPTIMIZATION PROCESS
On December 4, 2012, Novus announced that it had retained financial advisors to assist the Special Committee of the Board of Directors in exploring and evaluating a broad range of options to optimize shareholder value.  The Company confirms that it is currently in exclusive negotiations with respect to a potential transaction.  

Wednesday, August 14, 2013

How A Brazilian Oil Billionaire Lost 99% Of His Fortune

Eike Batista, ranked as the world’s eighth-richest person last year, ceased to be a billionaire after Mubadala Development Co. converted an investment in his companies into debt, further eroding the value of his assets.
Batista’s EBX Group Co. owes US$1.5-billion to Mubadala after the Abu Dhabi sovereign-wealth fund restructured a US$2-billion investment, said three people with knowledge of the deal. The fund no longer has equity in EBX, which paid back US$500-million after renegotiating earlier this month, said two of the people, asking not to be named because terms are private.

Wednesday, August 7, 2013

Is This The Key To A Rebound In Natural Gas Prices?????

What Canadian Value Is Writing

An end to the Joint Venture Boom:

http://seekingalpha.com/article/1615072-the-key-to-a-natural-gas-recovery-the-end-of-joint-venture-boom

What Canadian Value is Watching/Reading

http://www.gurufocus.com/news/225591/23-minute-qa-with-oaktrees-howard-marks/affid/81000

http://www.gurufocus.com/news/225562/real-estate-guru-sam-zell-is-cynical-about-a-housing-recovery/affid/81000

http://www.gurufocus.com/news/225564/housing-guru-robert-shiller-worries-what-will-happen-when-giant-institutions-start-selling-their-recent-housing-investments/affid/81000

TransCanada's Energy East Pipeline To Change Trade Dynamics

The scale of the $12 billion, 1.1-million barrel per day (bpd) pipeline, which will extend part of an old natural gas line, is hard to understate. Were it to start in London, it would stretch all the way to Tehran. In the United States, it could pump crude oil from Beverly Hills to New York City.
And its capacity is greater than the entire oil production of Azerbaijan, could provide 6 percent of daily U.S. oil consumption or, put another way, has the ability to carry 30 percent of Canada's total daily oil production.