Houston, TX (PRWEB) March 05, 2013
Propell Technologies Group Inc., (OTCQB: PROP) today announced its wholly owned subsidiary, Novas Energy USA Inc., plans to present its newly licensed enhanced oil recovery technology at CERAweek 2013 at 12:00 on Tuesday March 5, 2013.
IHS CERAWeek is chaired by IHS Vice Chairman and Pulitzer Prize-winning author, Daniel Yergin, and we are excited to be presenting at this prestigious annual meeting of the global energy industry.
IHS CERAWeek convenes an international group of more than 2,200 industry, policy and financial leaders from more than 50 countries to explore the challenges and opportunities facing the energy world. This year’s conference is the 32nd IHS CERAWeek. The theme for IHS CERAWeek 2013 is Drivers of Change: Geopolitics, Markets and the New Map of Energy, focusing on the profound transformation in the energy industry driven by new technologies, shifts in global demand, regulatory uncertainties and the new realities and cost structure of supply. IHS CERAWeek 2013 has stated its plan to offer new insights on the energy future that allow participants to better navigate this ever-evolving playing field.
John Huemoeller II, Novas Energy’s CEO, will be presenting the proprietary "Plasma-‐Pulse Technology" which is designed to enhance the recovery of oil. Novas is the exclusive licensee of this patented technology for use in the United States. The Company’s licensed downhole tool and subsequent well treatment has been attributed with increasing oil production and injector well fluid flow in over 200 wells outside of the United States. It does so without any chemicals and therefore is deemed to be environmentally friendly. The treatment is intended to clear the well drainage area of sedimentation clogging at the perforation zone and increase the permeability of the reservoir at the same time.
The Company also plans to discuss a horizontal tool currently under development by Novas’ sister Company in Russia that is being funded partially with a grant from the prestigious Skolkovo Foundation.
"CERAweek provides us with another opportunity to introduce our technology within the U.S. industry and to establish ourselves as a new technology in the enhanced oil recovery segment," expressed John W. Huemoeller II, President of Novas Energy USA.
About Propell Technologies Group, Inc. Propell Technologies Group, Inc. operates in two different lines of business. Novas Energy USA Inc., its wholly owned subsidiary, offers enhanced oil recovery technology and services through commercial application of a proprietary "Plasma-‐Pulse Technology.” Novas Energy USA Inc was recently organized to utilize its licensed proprietary "Plasma-‐Pulse Technology" to enhance the recovery of oil. The technology is designed to be suitable for oil wells as deep as 12,000 and to be highly effective, fast and economical. For more information, visit http://www.novasenergyusa.com or call 713-‐227-‐0480, Novas Energy USA, 1701 Commerce Street, Houston, Texas 77002. Under the PropellShops brand, it provides web-based e-commerce solutions in which schools, nonprofits, teams or businesses can raise money by easily launching web stores featuring customized apparel and gifts featuring their brand, logo or other artwork.
Forward-Looking Statements This release includes forward-looking statements on our current expectations and projections about future events In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the benefits and anticipated results from the use of our technology. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, our inability to achieve market acceptance of the technology, the inability of the technology to be effectively utilized in the United States and the failure of the technology to perform desired results and other factors described in our filings with the Securities and Exchange Commission. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.