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Novera Energy Ltd (NVE)

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Wednesday 25 April, 2007

Novera Energy Ltd

Long Term Incentive Plan

Novera Energy Ltd
25 April 2007


                                                                   25 April 2007

                             Novera Energy Limited

                            Long Term Incentive Plan


Novera Energy Limited ('the Company') announces that awards were yesterday made
to employees under the Novera Energy Limited Long-Term Share Incentive Plan 2006
('the Plan'). Awards under the Plan take the form of an opportunity to receive
shares in the Company if and to the extent that certain performance conditions
measured over a three-year performance period are satisfied. The performance
conditions are based on the Company's performance in terms of the total
shareholder return over the period from 1 January 2007 to 31 December 2009. The
performance criteria are onerous and require the Company to achieve a total
shareholder return in the top 10% of the FTSE SmallCap Index during the
performance period for the maximum number of shares to be awarded.


Awards have been made to employees which if vesting in full would lead to those
employees becoming entitled to a maximum of 2,220,750 ordinary shares in the
Company. Included in this figure is an award to David Fitzsimmons, Chief
Executive Officer of the Company, of a maximum of 787,500 ordinary shares in the
Company.

Enquiries:

Novera Energy Limited                                       020 7845 9720
David Fitzsimmons, Chief Executive Officer
Rory Quinlan, Chief Financial Officer


                              www.noveraenergy.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange