Sep. 4, 2013, 10:25 AM
- Yanchang Petroleum agrees to buy Novus Energy (NOVUF.PK) for $232M, in China’s biggest purchase of a Canadian oil and gas company since Cnooc’s takeover of Nexen.
- Yanchang will pay $1.18/share for Novus, 42% more than yesterday's closing price in Toronto.
- Buying Novus gives Yanchang assets in western Canada that produced 3,452 boe/day as of June 30, 20% more than a year earlier.
Aug. 28, 2013, 9:06 AM
Jan. 30, 2012, 5:27 PMKeep an eye on Canadian light oil producer Novus Energy (NOVUF.PK) before the open tomorrow after shares jumped into the close on no published news. Novus is a rapidly growing producer focused on the Viking light oil resource play, and would make a natural acquisition target for larger players such as Penn West (PWE). (submitted by Devon Shire) | Comment!
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