SOURCE: Nova Energy, Inc.

February 23, 2010 08:30 ET

OTCBB Quoted Nova Energy, Inc. (NVAE) PPS Increases 50% to $0.36 as Stock Begins Trading After Introduction of Updated and Expanded Business Plan

DALLAS, TX--(Marketwire - February 23, 2010) - Nova Energy, Inc. (OTCBB: NVAE), a fully-reporting Company on the Over-The-Counter-Bulletin-Board (OTCBB), has been featured in an independent analyst report on NewMarket Technology, Inc. (PINKSHEETS: NWMT). The report gives NewMarket a 'buy' rating with a PPS recommendation nearly fifty times higher than the current $0.03 PPS. Nova Energy is a member of the NewMarket Greenfield Partnership Program and has launched an updated business strategy focused on the technology, utility, housing and health products industries of East Africa. Since Nova's business strategy update and following NewMarket's independent analyst report announced yesterday, Nova's 50% PPS increase to $0.36 was a result of some of the first trading after a long lull in trading while the Company explored new business strategies and plans.

Updates on Nova's business development progress, to include the recent appointment of former Chairman of the Federal Reserve Bank of Dallas, Hugh G. Robinson, as CEO, will be reviewed in a Greenfield Partners Program Webcast scheduled for release later today. A link to the Greenfield Partnership Program Webcast will be published upon release.

If you would like a copy of the NewMarket Technology Analyst Report mentioned above, please visit the Investor Relations section of the NewMarket website at http://www.newmarkettechnology.com/investor-relations.htm. A direct link to the report is http://www.newmarkettechnology.com/nwmtreport_20100222.htm.

To receive future updates on Nova Energy, please email ir@novaei.com to opt-in to the Company's email database.

About Nova Energy, Inc. www.novaei.com

Nova Energy, Inc. has launched an updated business strategy and is under new management. Retired Major General Hugh G. Robinson, former Chairman of the Dallas Federal Reserve has assumed the role of Chief Executive Officer. Under General Robinson's leadership, Nova plans 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 the Technology, Utility, Housing and Heath 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 because 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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