SOURCE: Nova Energy, Inc.

April 20, 2010 11:28 ET

Nova Energy, Inc. Announces Closing $1.2 Million Secured Investment Commitment to Fund Oil Reclamation Business Strategy and East African Business Plan Expansion

DALLAS, TX--(Marketwire - April 20, 2010) -  Nova Energy, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today announced closing a $1.2 million secured investment commitment to fund its oil reclamation business strategy and East African business plan expansion. The Company filed an information disclosure statement yesterday with the details of the secured investment agreement. 

On Friday, April 16th, Nova released a Webcast presenting the latest details on the Company's developments in East Africa. Earlier this year, Nova launched an updated corporate strategy to pursue several business lines in the growing economy of East Africa, to include technology systems integration, mobile money remittance, and housing and health products initiatives. The Webcast was conducted from Nairobi, Kenya by interim CEO Philip Verges and includes an overview of Nova's partnerships through the NewMarket Technology, Inc. (PINKSHEETS: NWMT) Greenfield Program with NuMobile, Inc. (OTCBB: NUBL) and China Crescent Enterprises, Inc. (OTCBB: CCTR). The Webcast is available on Nova's corporate website, www.novaei.com, under News and Events or directly at http://www.novaei.com/wcea_41610.html.

Separately, Nova released news recently on a letter of intent executed in regard to the pending purchase of an oil drilling asset. Nova anticipates closing the acquisition within the next 10 days.

Nova Energy Email Updates

Nova is expanding its website and plans to issue regular updates on Company progress via email to its opt-in, permission-based email database. To join the email database, please send an email to ir@novaei.com.

About NewMarket Technology, Inc. (www.newmarkettechnology.com)

NewMarket provides systems integration, technology infrastructure services and emerging technology worldwide. NewMarket has a focus on providing technology and support services to rapidly growing economies where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Southeast Asia, Brazil and Northern Latin America. Last year the Company reported over $40 million in revenue from Asia and over $20 million in revenue from Latin America. Overall, NewMarket reported over $95 million in revenue for 2008.

Across the globe, NewMarket is a Microsoft and Oracle partner, distributes various computer hardware and peripherals from brand partners such as Dell, HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized reseller of operating systems and various software from companies such as Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company works with emerging technologies such as mobile computing, various security and wireless broadband technologies. NewMarket's rapid growth since 2002 has placed the Company on the Deloitte Technology Fast 500 for 5 consecutive years. NewMarket was recognized as the third fastest growing technology company in the United States in 2006 and the number one fastest growing technology company in North Texas for two years in a row.

About NuMobile, Inc. (www.numobileinc.com)

NuMobile is building a portfolio of security and software solutions for the global mobile computing and smartphone market. Through a roll-up strategy, NuMobile plans to acquire and develop mobile computing solutions for a variety of applications, including mobile banking, for the global marketplace. The demand for mobile security and software applications is being driven in large part by the growing number of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. Already in North America, the Company has also forged a partnership in the Chinese market and is developing a plan for the emerging economies of Latin America and East Africa. NuMobile is a SEC fully-reporting public company listed on the Over-the-Counter Bulletin Board.

About China Crescent Enterprises, Inc. (www.chinacrescent.com)

China Crescent is a systems integration service provider that markets technology outsourcing services in China including the sale and service of brand name technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell. Following a recent strategic acquisition, the Company has expanded its business line to include original design manufacturing (ODM). China Crescent reported over $40 million in profitable revenue in 2008. The Company has reported record profits through the first 9 months of 2009 and anticipates reporting record profit in the 2009 annual report. Management has set a goal of reaching $100 million in revenue in 2010.

Headquartered in Dallas with operations in Shanghai, Shenzhen, Dalian and Beijing, China Crescent bridges the gap between global business cultures to assist clients worldwide realize the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.

About Nova Energy, Inc. (www.novaei.com)

Nova Energy, Inc. has launched an updated corporate strategy to pursue several business lines in the growing economy of East Africa, initially in Kenya. Nova has already begun several initiatives in the region to include initiatives in the Technology, Utility, Housing and Health products industries.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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