SOURCE: Obsidian Financial Communications Inc.

Obsidian Financial Communications Inc.

May 31, 2012 08:01 ET

Stock Market News for Thursday May 31, 2012: NVMN, NBL, NOV, VELT

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Obsidian Financial Communications Inc.

NEW YORK, NY--(Marketwire - May 31, 2012) - OFinancialinc.com announces the following stocks to its Stock Market Morning News.

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NVMN Signs New Agreements on South American Gold & Diamond Mining Venture
Nova Mining Corp. (OTCBB: NVMN) announced today (5/31/12) that the Company has extended the Option Agreement with Natural Resources Recovery Guyana (NRRG) regarding the five diamond, gold and timber harvesting concessions totaling 2,567 hectares (6,000 acres) in Northeastern Guyana, South America. Recent geological reports supplied by NRRG during the Due Diligence have shown a significant presence of diamonds on the concessions. The concessions are located in the Upper Cuyuni Basin - Greenstone Belt, Guyana, between the country's border with Brazil and Venezuela. All permitting and mining licenses have been secured from the Guyana Mining Commission and verified by a Guyana-based law firm specializing in mineral rights.

Subject to affirming the assertions by NRRG, Nova Mining management believes that acquiring an interest in NRGG's Guyana concessions could prove to be a very lucrative move for the Company. Under the Agreement, both parties are to negotiate, in good faith, an Investment and Profit Sharing Agreement (IPSA) related to the concessions.

Nova Mining Corp. (OTCBB: NVMN) strongly believes that current market conditions are extremely favorable for diamond prices and sales due to the new significant demand being placed on the existing worldwide diamond supply. New manufacturing methods requiring superior cutting materials, the need for more diamond tipped oil drilling bits and rapidly rising demand in Asia resulted in a staggering price increase of 49% in the first half of 2011, accelerating after two years of 30% annual growth. Due to these steadily increasing market trends, the Company is initially focusing on diamonds, but is also looking to build a mining asset portfolio that contains lithium, copper and gold resources.

To view the full press release for Nova Mining Corp. (OTCBB: NVMN), visit OFinancialinc.com

Other Highlights Include:

Noble Energy to Sell North Sea Assets to Maersk Oil for $127 Million
Noble Energy Inc. (NYSE: NBL) has agreed to sell its stake in certain properties in the United Kingdom's North Sea to Maersk Oil North Sea Ltd. for approximately $127 million, as the oil-and-gas explorer continues to divest its noncore properties. The sale includes Noble's 30% non-operating working interest in its Dumbarton and Lochranza properties. The company said on 5/30/12, it's also considering the sale of its other North Sea assets. "The sale of these nonstrategic properties allows us to focus our resources on our five core business units and also strengthens our balance sheet," said Chief Operating Officer David L. Stover.

National Oilwell Varco to Buy CE Franklin For About C$231
National Oilwell Varco Inc. (NYSE: NOV) agreed to acquire CE Franklin Ltd. for about C$231 million, giving the manufacturer of energy-production equipment a supplier of similar products. National Oilwell plans to pay C$12.75 per share for CE Franklin, a 36% premium over its Wednesday (5/30/12) closing price on the Toronto Stock Exchange. CE Franklin provides products and services to the energy industry, distributing pipes, valves, flanges, fittings and other products. A shareholder rights plan adopted by CE Franklin in April was terminated. National Oilwell Varco's earnings have surged over the past year as oil-and-gas producers boost their capital expenditures, often spending heavily on complex equipment that can extract harder-to-reach reserves through unconventional means like hydraulic fracturing and horizontal drilling. The company also has grown to become the sector's dominant equipment maker through mergers.

Velti Announces Purchase of Shares by Non-Executive Directors and Senior Employees
Velti plc (NASDAQ: VELT), the leading global provider of mobile marketing and advertising technology and solutions, on 5/30/12, announced that certain of its non-executive directors and senior employees have purchased ordinary shares of the Company on the open market, at an aggregate value of over $1.0 million. Velti also announced that Mr. Wilson Cheung and Ms. Sally Rau, Chief Financial Officer and Chief Administrative Officer and General Counsel of Velti, respectively, have recently sold ordinary shares of Velti in aggregate value of approximately $75,000 upon vesting of deferred share awards to cover the tax liability arising upon the vesting of such shares. Mr. Cheung and Ms. Rau, each of whom receives a significant portion of their compensation in Velti deferred share awards, will continue to sell Velti ordinary shares as needed to cover the tax liability arising upon vesting of such awards. Each expects to adopt a prearranged trading plan in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and the Company's policies to cover the tax liability accruing upon the vesting of such shares. The company notes that purchases and sales of shares by its executive officers and non-executive directors are not reported on Form 4 filed with the Securities and Exchange Commission, as are such transactions by domestic issuers, due to Velti's status as a foreign private issuer. Expected sales by such insiders will be reported quarterly on Form 144 filed with the SEC. The company does not expect to issue future press releases upon trading actions by its insiders.

About OFinancialInc.com:

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All material herein was prepared by Obsidian Financial Communications, Inc. (OFC) based upon information believed to be reliable. The information contained herein is not guaranteed by OFC to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. OFC is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://OFinancialinc.com or mentioned herein. Nova Mining Corp. (NVMN) - Obsidian Financial Communications Inc. (OFC) has been compensated one hundred twenty five thousand ($125,000) dollars by a third party for NVMN. We could receive up to another one hundred twenty five thousand ($125,000) dollars for NVMN from this same third party. In addition to any compensation mentioned above, additional compensation can be equal to ten percent of any newly issued or registered securities of the profiled companies. OFC's affiliates, officers, directors and employees may own shares and intend to buy and sell additional shares of the companies mentioned herein and may profit in the event those shares rise in value. OFC will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market. To see OFC's full disclaimer / compensation, please visit our web site: http://ofinancialinc.com/disclaimer

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