CALGARY, Alberta, July 02, 2025 (GLOBE NEWSWIRE) -- NuVista Energy Ltd. (TSX:NVA, "NVA" or "NuVista") is providing revised guidance to our annual production volumes and reiterating our commitment to our shareholder return strategy. Due to continued delays in commissioning the Pipestone Gas Plant (“Pipestone Plant”) and additional required work discovered during a gas plant turnaround in the greater Wapiti area (“Wapiti Turnaround”), we now anticipate annual volumes to average approximately 83,000 Boe/d(1). ...

Anchorage Alaska, June 24, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) is pleased to announce that Mr. Chaim (Dovi) Berger has been appointed as an Independent Non-Executive Director with effect from 1 July 2025. Mr. Berger is a U.S.-based finance and legal executive with over 10 years of experience structuring and closing complex transactions. He brings a cross-disciplinary background in corporate law, accounting, taxation, and M&A, coupled ...

Core Viewpoint - NuVista Energy Ltd. has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid (2025 NCIB), allowing the company to repurchase up to 16,398,617 common shares over the next year [1][2]. Group 1: Share Repurchase Details - The 2025 NCIB will be effective from June 23, 2025, until June 22, 2026, or until completed or terminated earlier by NuVista [2]. - The maximum number of shares to be repurchased represents 10% of the public float as of June 12, 2025, with a daily maximum purchase limit of 195,945 shares [4]. - NuVista has established an automatic share purchase plan (ASPP) to facilitate share repurchases during self-imposed blackout periods [5]. Group 2: Financial Commitments and Strategy - NuVista has already met its minimum share repurchase target of $100 million for the year, indicating a commitment to disciplined growth and returning capital to shareholders [3]. - For the remainder of the year, at least 75% of incremental free adjusted funds flow will be allocated to additional share buybacks [3]. - The previous normal course issuer bid (2024 NCIB) allowed for the repurchase of up to 14,234,451 shares, with 11,234,200 shares repurchased at a weighted average price of $12.76 [6]. Group 3: Company Overview - NuVista is engaged in the exploration, development, and production of oil and natural gas reserves in Alberta, focusing on the condensate-rich Montney formation [8]. - The company aims to create significant shareholder value through high-value condensate volumes associated with its natural gas production [8].

About this content About Jonathan Jackson Jonathan Jackson is an experienced writer and editor. Over the past 20 years, he has worked in print and digital media across several business and finance titles amd is currently the Australian news editor at Proactive Investors covering the latest news for ASX listed companies as well as current financial trends. He was previously managing editor with Business First magazine, Wealth Creator Magazine and StocksDigital. Jonathan has interviewed some of the world's ...

Anchorage Alaska, June 11, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) is pleased to advise that drilling has commenced at its highly prospective Stibium prospect targeting both gold and antimony mineralization. The first diamond drill rig is now operational, with a second diamond rig and the Company-owned RC rig currently being mobilized and scheduled to begin drilling later in June. Nova’s application for U.S. Department of Defense funding ...

Anchorage Alaska, May 30, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) is pleased to announce that preparations are now well underway for the upcoming field season at its over 500km2 flagship Estelle Project located in the Tintina Gold Belt in Alaska. A 15,000m drill program is set to commence shortly which will focus on key targets at RPM, Stibium, and Korbel. Highlights Helicopters, pad building crews, drillers, and geologists are now onsit ...

Core Points - NuVista Energy Ltd. held its annual meeting on May 9, 2025, where several key resolutions were approved [1] Group 1: Board of Directors - The number of directors was fixed at eight, with 79.58% of votes in favor [2] - Eight nominees were elected as directors, with the following vote percentages: - Pentti O. Karkkainen: 79.19% - Ronald J. Eckhardt: 79.03% - K. L. (Kate) Holzhauser: 77.04% - Michael J. Lawford: 79.34% - Mary Ellen Lutey: 79.50% - Deborah S. Stein: 78.72% - Jonathan A. Wright: 76.07% - Grant A. Zawalsky: 72.95% [3] Group 2: Appointment of Auditors - KPMG LLP was appointed as auditors with 96.50% of votes in favor [4] Group 3: Executive Compensation - NuVista's approach to executive compensation was approved with 79.22% of votes in favor [5] Group 4: Company Overview - NuVista is an independent Canadian oil and natural gas exploration, development, and production corporation, trading on the Toronto Stock Exchange under the symbol "NVA" [6] - The company focuses on the exploration and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin, particularly in the condensate-rich Montney formation [7]

Core Viewpoint - NuVista Energy Ltd. reported strong financial and operational results for Q1 2025, achieving record production levels and reaffirming its annual capital and production guidance while enhancing shareholder returns through share repurchases and a renewed credit facility [1][6]. Financial Highlights - Achieved highest-ever quarterly average production of 89,516 Boe/d, exceeding guidance of 87,000 – 88,000 Boe/d, and representing a 12% increase from Q1 2024 [3][16]. - Generated adjusted funds flow of $191.9 million ($0.94/share), a 42% increase compared to Q1 2024 [3][16]. - Net earnings reached $112.2 million ($0.55/share), reflecting a 214% increase from Q1 2024 [3][16]. - Total revenues from petroleum and natural gas were $371.4 million, a 20% increase from $309.0 million in Q1 2024 [16]. Operational Highlights - Executed a net capital expenditure program of $153.4 million, resulting in the drilling and completion of 9 and 24 wells, respectively [3][16]. - Maintained a strong operating netback at $28.41/Boe and a corporate netback at $23.84/Boe, increases of 30% and 28% compared to Q1 2024 [3][16]. - Sustained production above 90,000 Boe/d for March 2025, indicating strong operational capability [10]. Shareholder Returns - Repurchased and cancelled 3.6 million common shares at an average price of $12.86 per share, totaling $45.8 million [3][16]. - The company plans to allocate a minimum of $100 million in 2025 for share repurchases under its normal course issuer bid (NCIB) [5][6]. Financial Position - Strengthened financial position through the amendment and renewal of a three-year covenant-based credit facility, increasing its size to $550 million and extending maturity to May 8, 2028 [9][8]. - Exited Q1 2025 with $2.7 million in available cash and net debt of $267.6 million, maintaining a favorable net debt to annualized adjusted funds flow ratio of 0.3x [8][9]. Production Guidance - Reaffirmed annual production guidance of approximately 90,000 Boe/d, with Q2 2025 production guidance set at 75,000 – 77,000 Boe/d due to planned turnaround operations [13][14]. - Anticipated production growth from the Pipestone area with the commissioning of a third-party gas plant expected late in Q2 2025 [13][14].

Core Insights - Nova Minerals Limited continues to report high-grade gold discoveries at its Estelle Project, with notable samples from Wombat reaching up to 360 g/t Au and RPM Regional area samples up to 56.3 g/t Au [1][5][4] - The company is advancing U.S. grant applications for antimony development, indicating a strategic focus on critical minerals alongside gold exploration [1][4] - The quarterly cash flow report shows a cash position of A$13.076 million with no debt, following significant cash inflows from the sale of shares and warrant exercises [10][6] Estelle Project Highlights - High-grade gold discoveries at Wombat include 7 rock samples grading greater than 2 g/t Au, with a peak of 360 g/t Au over a 1 km strike length [5][10] - The RPM Regional area has identified further high-grade gold, with 20 rock samples grading greater than 1 g/t Au and a high of 52.3 g/t Au [5][10] - The Stibium prospect has been confirmed as an extensive gold and antimony-rich zone, measuring 800m long by 400m wide, with identified resource drill targets [4][5] Financial Overview - The company reported a net cash outflow from operating activities of A$1.230 million for the quarter, with total cash equivalents at the end of the period at A$13.076 million [29][30] - Significant cash inflows included A$10.5 million from the sale of Snow Lake shares and A$1.5 million from the exercise of U.S. Nasdaq warrants [10][6] - Exploration and evaluation costs for the quarter totaled A$1.1 million, primarily related to PFS test work and environmental studies [10][6] Future Plans - Ongoing metallurgical and environmental test work is expected to yield material results, with plans for a 2025 drilling and surface exploration program [10][6] - The company aims to update its Mineral Resource Estimate (MRE) to comply with both JORC and S-K 1300 standards for gold and antimony [10][6] - Nova is also exploring potential funding opportunities from the U.S. Department of Defense for antimony supply [10][6]

Core Viewpoint - NuVista Energy Ltd. reported record-setting reserves and strong financial and operational results for the year ended December 31, 2024, highlighting significant growth in reserves and a commitment to shareholder returns as the company aims for continued production growth towards 125,000 Boe/d in 2025 [1]. Operational and Financial Highlights - Average production in Q4 2024 was 85,635 Boe/d, exceeding guidance of 83,000 – 84,000 Boe/d, with an annual average production of 83,084 Boe/d, an 8% increase from 2023 [4]. - The company executed a capital expenditure program of $498.9 million, including drilling 43 wells and completing 38 wells throughout the year [4]. - Annual adjusted funds flow was $552.2 million ($2.68/share), with Q4 contributing $137.1 million ($0.67/share) [4]. - Free adjusted funds flow for the year was $39.6 million ($0.19/share) [4]. - The company repurchased 5.9 million common shares at an average price of $12.52 per share, totaling $74.4 million, and has repurchased 36.5 million shares since 2022 [4]. - As of December 31, 2024, net debt was $232.5 million, with a favorable net debt to annualized fourth quarter adjusted funds flow ratio of 0.4x [4][8]. Reserves Growth - Reported Proved Developed Producing (PDP) reserves increased by 9% year-over-year to 177.3 MMBoe, with Total Proved plus Probable (TP+PA) reserves rising by 21% to 779.7 MMBoe [9]. - The company replaced 150% of 2024 production on a PDP basis and 550% on a TP+PA basis, reflecting the success of its capital program [9]. - PDP Finding, Development and Acquisition Cost (FD&A) was $11.13/Boe, with a PDP recycle ratio of 1.8x based on the 2024 operating netback [9]. 2025 Guidance and Operations - The company forecasts Q1 2025 production to average 87,000 – 88,000 Boe/d, with annual production expected to average approximately 92,000 Boe/d, assuming the Pipestone Plant starts up in Q2 [13]. - Annual capital expenditure guidance for 2025 is approximately $450 million, with a minimum of $100 million allocated for share repurchases [14][7]. - The company plans to continue its disciplined growth strategy while maintaining a strong balance sheet and low debt levels [15].