It appears that Novus which is by far the largest position in the portfolio we run for my subscription newsletter will have some sort of value realization event in the coming months.
Novus was an exercise in patience as the stock price declined significantly this year to what we thought were absurd levels around $0.60. At that time we sucked it up, revisited the intrinsic value of the company and took a very large position.
There is a big disconnect folks between what these smaller unconventional oil companies are worth to other oil companies, and what Mr. Market thinks they are worth. My portfolio is loaded with them and I expect several others are going to get taken out at large premium, or heaven forbid Mr. Market will start to value them appropriately.
Here is the Novus news:
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