Novus shares fall on drilling report at Laos  

   SYDNEY, May 20 AAP - Shares in oil and gas concern Novus  
Petroleum Ltd fell as much as 7.6 per cent after a 
production  report revealed interruptions to its drilling 
program in Laos.
   At 1536 AEST, Novus shares were down 18 cents at $2.70, 
having  lost 22 cents earlier in the day.
   Novus said it is trying to remove junk from the hole of 
a well  spudded at the Naxay prospect in Laos on April 13.
   "Preparations are currently underway to sidetrack the 
well past  the junk," the company said in its weekly 
drilling report.
   The prospect is in the MON/SDC licence which covers 
37,000  square kilometres of Laos and Naxay is 60 
kilometres north east of  the capital.
   "It is a high risk, high reward prospect because the 
geology of  Laos is less well understood further south," 
Novus said.
   Novus has a 20 per cent stake in the project and one 
stock  broker said success at Naxay is worth a $1.00 a 
share to Novus.
   He said the shares looked cheap at these levels.