SOURCE: Nova Energy, Inc.

March 29, 2010 09:00 ET

Nova Energy, Inc. (NVAE) Presents $1 Million Micro-Cap Investment Commitment, $1.4 Million Acquisition Kickoff of Oil Redevelopment Strategy and East African Diversification

DALLAS, TX--(Marketwire - March 29, 2010) -  Nova Energy, Inc. (OTCBB: NVAE) released a Webcast last Friday that presents a strategic update on the Company's anticipated milestones through April and May of this year. The Webcast, available now for on-demand review at www.novaei.com, highlights a recent $1 million investment commitment to fund Nova's business strategy. The Webcast also provides details on the Company's plans for diversification in East Africa through the anticipated acquisitions of technology and manufacturing operations in Kenya in the May timeframe and a review of a recent letter of intent to acquire a $1.4 million strategic asset. Nova anticipates closing the acquisition of a $1.4 million oil drilling asset in early April to support the Company's plan to redevelop known oil reserves. 

The Webcast is available on Nova's corporate website, www.novaei.com, under News and Events or directly at http://www.novaei.com/wcea_32610.html.

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 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. Nova Energy has also launched a communications and awareness campaign.

"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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