Houston, TX (PRWEB) November 13, 2013
Propell Technologies Group, Inc., (OTCQB: PROP) today announced its wholly owned subsidiary, Novas Energy USA, Inc., plans to present its exclusively licensed enhanced oil recovery technology and results from its treatment of oil wells in the United States as an exhibitor (Booth #807) at the Total Energy USA Conference being held at the George R. Brown Convention Center in Houston, TX, November 19th ‐ 21st, 2013.
Novas Energy USA and its plasma pulse technology are currently in the running for Total Energy USA’s Chairman’s Innovation Award. Of the 20 submissions for this award Novas is one of six total finalists between Mid-Large and Micro-Small cap companies. It is one of three finalists in the Micro-Small cap companies sector.
Total Energy USA is a unique event that provides a business forum to address the intersections in energy technologies. The comprehensive conference program provides a practical overview of the newest developments and obstacles in every energy sector and the resulting business opportunities. The exposition provides the new resources, systems and information that energy decision makers need to put the strategies and solutions gleaned from the conference program into practice. There are expected to be 70 companies exhibiting and 2000 attendees.
During the conference, Novas’s management will showcase its proprietary "Plasma-Pulse Technology" which is designed to enhance the recovery of oil and will be discussing the successes they have enjoyed treating wells in the United States. Novas is the exclusive licensee of this patented technology for use in the United States.
The Company’s down hole tool and subsequent well treatment has been attributed with increasing oil production and injector well fluid flow in 19 wells in the U.S and over 200 wells internationally. It does so without any chemicals and therefore is environmentally friendly. The treatment clears the well drainage area of sedimentation clogging at the perforation zone and increases the permeability of the reservoir at the same time.
We believe that the U.S. target market is indeed large since it is estimated that over 70% of the known oil reserves in the U.S. remain abundant in the ground. By optimizing production efficiency, well enhancement and enhanced oil recovery, we expect that Novas’s technology can extend the economic life of mature oil fields, sustaining more jobs and boost industry profits.
"We look forward to continue introducing our technology within the U.S. industry and at the Total Energy USA show as we continue to establish ourselves as a new enhanced oil recovery player," said John W. Huemoeller II, President of Propell Technologies Group and Novas Energy USA."
About Propell Technologies, OTC Markets: PROP. – Through its wholly owned subsidiary Novas Energy USA, Propell is the exclusive licensee of patented “Plasma Pulse” technology in the United States, which has been shown to significantly improve existing well recovery and production volumes. For more information, visit http://www.propell.com or call 713-227-0480, 1701 Commerce Street, Houston, Texas 77002.
SAFE HARBOR STATEMENT This news release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the words "believe," "anticipate," "expect," "intend," "estimate," and similar expressions. All statements in this document regarding the future outlook related to Novas Energy and Propell are forward-looking statements, including the wells available wells for future treatment. Such statements are based on the current expectations, beliefs, estimates and projections of management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional uncertainties and risks are described in our most recently filed SEC documents, such as our most recent annual report on Form 10-K and quarterly report on Form 10-Q. For a more detailed discussion of factors that affect Propell's operations, please refer to the Company's Securities and Exchange Commission filings. Copies of this filing are available through the SEC website at http://www.sec.gov. All forward-looking statements are based upon information available to us on the date hereof. Propell undertakes no obligation to update this forward-looking information.