Novus engages in the business of acquiring, exploring, developing and producing crude oil and natural gas in Saskatchewan and Alberta. Novus produces high netback, light sweet crude oil via horizontal drilling and has drilled around 360 horizontal oil wells since its incorporation in 2009. Novus has 160,000 net acres of land currently. From August to October 2017, Novus accounted for 3 of the 15 top producing wells in Viking play.
The largest core area of Novus is located in the greater Dodsland area of Southwest Saskatchewan, Canada. Its attractive and productive oil and gas portfolio in Canada contributes to the Company’s international expansion and sustainable growth.
|For the six months ended 30 June||2018||2017|
|Oil and gas (BoE)||405,300||512,800|
|Contributed production income (HKD’000)||146,521||146,500|
|Operating profit (HKD’000)||12,980||11,034|
|Netback Per BOE (CAD)||38.2||31.4|