Novus Energy Inc. announces normal course issuer bid

    




 /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE  U.S./ 

 CALGARY, Sept. 18, 2012 /CNW/ - Novus Energy Inc. ("Novus" or the "Company")  announces that it intends to make a normal course issuer  bid ("NCIB") through the facilities of the TSX Venture to buy up to  5,000,000 of its issued and outstanding Common Shares.  This amount  represents approximately 3% of Novus' 189.4 million issued and  outstanding Common Shares. The bid will commence September 20, 2012 and  expire September 19, 2013 and any shares acquired pursuant to the bid  will be cancelled. The bid will be conducted through National Bank  Financial Inc., a member of the TSX Venture Exchange. 

 Under the Company's previous NCIB, for the period September 15, 2011 to  September 14, 2012, Novus purchased 2,222,000 common shares at an  average cost of $0.73 per share. 

 Novus' reasoning for the NCIB is that from time to time the purchase of  Common Shares for cancellation will increase the proportionate interest  of, and be advantageous to, all remaining shareholders.  In addition,  any purchases made by Novus will afford increased liquidity to those  shareholders of the Company who may wish to dispose of their Common  Shares. 

 Novus Energy Inc. is a well positioned, junior oil and gas company with  a proven management team committed to aggressive, cost-effective growth  of high netback light oil reserves and production. Novus will continue  to grow through a targeted acquisition and consolidation strategy  coupled with development and exploration drilling. 

 Novus Shares trade on the TSX Venture Exchange under the symbol NVS.  Novus currently has 189.4 million common shares outstanding. 

 Neither the TSX Venture Exchange nor its Regulation Services Provider  (as that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

 This news release will not constitute an offer to sell or the  solicitation of an offer to buy the securities in any jurisdiction.  Such securities have not been registered under the United States  Securities Act of 1933 and may not be offered or sold in the United  States, or to a U.S. person, absent registration, or an applicable  exemption therefrom. 

 ADVISORY REGARDING FORWARD LOOKING STATEMENTS 

 Certain disclosures set forth in this press release constitute  forward-looking statements.  Any statements contained herein that are  not statements of historical facts may be deemed to be forward-looking  statements.  Forward-looking statements are often, but not always,  identified by the use of words such as "anticipate", "believes",  "budget", "continue", "could", "estimate", "forecast", "intends",  "may", "plan", "predicts", "projects", "should", "will" and other  similar expressions.  All estimates and statements that describe the  Company's future, goals, or objectives, including Management's  assessment of future plans and operations, may constitute  forward-looking information under securities laws.  Forward-looking  statements involve known and unknown risks and uncertainties which  include, but are not limited to: exploration, development and  production risks; assessments of acquisitions; reserve measurements;  availability of drilling equipment; access restrictions; permits and  licenses; aboriginal claims; title defects; commodity prices; commodity  markets; transportation and marketing of crude oil, liquids and natural  gas; reliance on operators and key personnel; competition; corporate  matters; funding requirements; access to credit and capital markets;  market volatility; cost inflation; foreign exchanges rates; general  economic and industry conditions; environmental risks; Kyoto protocol;  and government regulation and taxation. 

 Forward-looking statements relate to future events and/or performance  and although considered reasonable by Novus at the time of preparation,  may prove to be incorrect and actual results may differ materially from  those anticipated in the statements made.  Novus does not undertake any  obligation to publicly update forward-looking information except as  required by applicable securities law. 

   

Novus Energy Inc.


CONTACT:  NOVUS ENERGY INC.Hugh G. RossPresident and CEO(403) 218-8895Ketan PanchmatiaChief Financial Officer(403) 218-8876Julian DinVP Business Development(403) 218-8896 


    

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