SOURCE: Nova Energy, Inc.

April 08, 2010 10:27 ET

Nova Energy (NVAE) Listing Upgraded to New OTCQB Market for All U.S. Registered and Reporting OTC Securities

DALLAS, TX--(Marketwire - April 8, 2010) -  Nova Energy, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today announced a listing on the new OTCQB market introduced this week to better distinguish OTC securities that are registered and reporting with U.S. regulators. Nova is a fully-reporting company that recently announced a strategic business plan update to expand and diversify operations in East Africa. The business plan update and expansion was led by the late Hugh G. Robinson, a retired U.S. Army Major General, former White House staff member and previous Chairman of the Federal Reserve Bank of Dallas. Currently, Philip Verges, the Founder and Chairman of NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) is serving as the interim CEO. Mr. Verges also directs NewMarket's Greenfield Partnership Program of which Nova is a member.

Nova released an on-demand strategic update webcast yesterday: http://novaei.com/wcup_40710.html

Nova released a 2009 year in review and 2010 strategic update Webcast yesterday. The Webcast, conducted by interim CEO Philip Verges, provides a review of 2009 and an overview of both the Company's business plan and strategic objectives for 2010. The Webcast provides further details on Nova's business expansion plans in East Africa, announced plans to acquire a $1.4 million oil drilling asset later this month in North America, recently announced $1 million funding commitment and partnership with the NewMarket Greenfield program. The Webcast is now available on Nova's corporate website, www.novaei.com, under News and Events or directly at http://www.novaei.com/wcup_40710.html.

OTCQB Marketplace

The creation of the OTCQB™ marketplace was announced earlier this week by the Pink OTC Markets, Inc. The new OTC market tier will include the securities of over 768 SEC reporting companies and banks formerly designated as Pink Sheets® stocks, in addition to the 3050 securities that are currently quoted in both Pink OTC Markets' electronic interdealer quotation system and FINRA's OTCBB™.

http://www.otcmarkets.com/pink/about/news.jsp?id=215

FINRA and the OTCBB

Separately, FINRA has announced the proposed sale of the OTCBB.com Web site URL and reservation rights as well as certain OTCBB.com content and the OTCBB trademark.

http://www.finra.org/Industry/Compliance/MarketTransparency/P119958

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.

"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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