This ought to be a great year for us having now the experience of treating 30 some wells in the U.S.
Houston, Texas (PRWEB) February 03, 2014
Propell Technologies Group, Inc., (OTCQB: PROP) (“Propell”) today announced that the Company will display its proprietary, licensed, Enhanced Oil Recovery (EOR) Technology, the “Plasma-Pulse”, at the Winter North American Prospect Expo (NAPE) (http://www.napeexpo.com). Propell will be showcasing its “Plasma-Pulse Technology” in Exhibitor Booth #3167 at the Expo, February 4 -7, 2014, at the George R. Brown Convention Center in Houston, TX.
Propell’s wholly owned subsidiary, Novas Energy USA, is the exclusive licensee of this patented Plasma-Pulse Technology for use in the United States. The Plasma Pulse treatment uses plasma to stimulate and enhance the recovery of oil and gas in existing wells. The down-hole tool and subsequent well treatment has been attributed with increasing oil production and injector well fluid flow in over 200 wells in Eastern Europe and in the United States. It does so without any chemicals and therefore is deemed to be 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, resulting in increased oil recovery.
NAPE is the world’s largest Upstream, or Exploration and Production (E&P) Sector Expo, bringing prospects and producing properties (from the U.S. and around the world), capital formation, services and technologies together in one location, creating an environment to establish strategic alliances for doing business and initiating purchases and trades. The expected attendance is approximately 17,000 and there are nearly 1,000 exhibitors. The internationally recognized NAPE Expo was created as the North American Prospect Expo in 1993 by AAPL and now includes IPAA, SEG and AAPG as partners.
"NAPE provides us with an invaluable opportunity to showcase our technology to the attendees as well as the exhibitors within the oil and gas industry. This ought to be a great year for us having now the experience of treating 30 some wells in the U.S.," expressed John Huemoeller II, President of Propell Technologies Group.
ABOUT PROPELL TECHNOLOGIES GROUP
Propell Technologies Group, Inc. (http://www.propell.com/), through its wholly owned subsidiary Novas Energy USA, is the exclusive U.S licensee of proprietary Plasma-Pulse Technology, an EOR technology using Plasma. Novas Energy is engaged in the development and commercial application of PPT in the treatment and stimulation of oil wells to enhance the recovery of oil and gas in existing wells.
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 USA and Propell are forward-looking statements, including but not limited to the initial results from the treated wells and the timing and release of future data. 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 including the risk that the future data will not be as favorable as the initial results. 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.
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