Novus Energy Inc. reported audited consolidated financial results for the fourth quarter and full year ended December 31, 2012. For the quarter, production revenue was $21,322,000 against $21,187,000 for the same period of last year. Funds flow from operations was $11,655,000 against $12,025,000 for the same period of last year. Funds flow from operations per basic and diluted share was $0.06 against $0.07 for the same period of last year. Net income was $1,111,000 against loss of $2,176,000 for the same period of last year. Net income per basic and diluted share was $0.01 against loss of $0.01 for the same period of last year. Capital expenditures, net was $29,146,000 against $11,684,000 for the same period of last year. The company ended the 2012 fiscal year with net debt of $78.9 million, against lines of credit of $105 million. Funds flow from operations increased 60% to $41.7 million from $26.1 million a year ago. Funds flow from operations per basic and diluted share increased 47% to $0.22 from $0.15 per share in 2011. Net income for the year ended December 31, 2012 was $6.8 million, compared to a loss of $0.8 million a year ago. The company ended 2012 with net debt of $78.9 million against available lines of credit of $105 million. Net income per basic and diluted share was $0.04. Production revenue was $75,952,000 against $53,137,000 for the same period of last year. Capital expenditures, net was $87,306,000 against $73,110,000 for the same period of last year.

Novus Energy Inc. announced production results for the fourth quarter and year ended December 31, 2012. For the fourth quarter, the company achieved production of 3,444 boe/d, a 21% increase over fourth quarter 2011 average production volumes of 2,845 boe/d. 2012 average annual production was 3,059 boe/d, a 55% increase over 2011 average annual production volumes of 1,971 boe/d. The Company drilled a total of 72 wells (72.0 net) in 2012 all targeting Viking oil within the Dodsland region of Saskatchewan. Twenty-four of these wells (24.0 net) were drilled in the fourth quarter of 2012. For the full year, the company reported average production for 2012 was 3,059 boe/d, representing 55% year over year average production volume growth. Novus achieved production of 3,444 boe/d in the fourth quarter of 2012 (78% oil and liquids) representing a 21% increase over fourth quarter 2011 production volumes. The preliminary estimate of first quarter 2013 average production based on field estimates is 4,090 boe/d. Operating netbacks in 2012 for the Company's Viking light oil production in Dodsland were estimated to be $54.16/boe. During 2012 Novus operated the drilling of 72 wells all using horizontal multi stage frac technology. During the first quarter of 2013 Novus drilled 17 wells all using horizontal multi stage frac technology. Twenty wells were completed and brought on production during the quarter. Novus currently controls 219 net sections of Viking rights, and has a risked drilling inventory of 1,585 net, undrilled Viking oil locations.

Novus Energy Inc. announced production results for the month, fourth quarter and year ended December 2012. For the month, the company's average production during was 3,925 boe/d. For the quarter, the company reported average production was volumes averaged 3,530 boe/d. For the year, the company's corporate exit rate production target of 4,200 boe/d.