SOURCE: Nova Energy, Inc.

March 23, 2010 09:49 ET

Nova Energy, Inc. (NVAE) On the Move With $1.4 Million Letter of Intent and China Crescent (CCTR) and NuMobile (NUBL) Partnerships

DALLAS, TX--(Marketwire - March 23, 2010) -  Nova Energy, Inc. (OTCBB: NVAE) has entered into a letter of intent to acquire a $1.4 million strategic asset. The Company has scheduled a Webcast for Friday, March 26th to present a detailed overview of the planned acquisition and the Company's recently updated and expanded business plan. The Webcast is also scheduled to include an overview of the Company's Trade Mission currently underway in Nairobi, Kenya and the anticipated results expected from the Trade Mission. Nova is a member of the NewMarket Technology, Inc. (PINKSHEETS: NWMT) Greenfield Partnership Program and expects to achieve rapid market development in conjunction with specific joint projects in East Africa that include Greenfield partners China Crescent Enterprises, Inc. (OTCBB: CCTR) and NuMobile, Inc. (OTCBB: NUBL). A link to the Webcast will be posted to the Nova Energy corporate website www.novaei.com upon release Friday.

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. The Company is quoted on the OTCBB and files its periodic reports. The Company is also dually quoted on the Pinksheets under NVAE.

"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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