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UPDATE: Novus Energy Up Nearly 3% As Exceeds 2011 Exit Rate Production Target

Novus Energy Inc. (NVS.V) that was at 50-day SMA 81 cents at yesterday's close, added almost 3% at today's open after announcing that it has significantly increased its light oil production during 2011 and has exceeded its corporate exit rate production target of 3,000 boe/d.

With an active and successful drilling program in the second half of the year, the company said it has been able to more than double production volumes from the second quarter of 2011.

NVS shares are now trading at 83 cents a share, about 3% more than the previous closing price. So far, more than 95.9 thousand shares were already traded.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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