Houston, Texas (PRWEB) April 22, 2014
Propell Technologies Group (OTCQB:PROP), the exclusive U.S. licensee of a plasma pulse technology for enhanced oil recovery (EOR) today announced the display of its sustainable well stimulation treatment technology at the Earth Day Texas annual celebration in Dallas from April 26-27.
Propell will be showcasing its newly commercialized well treatment in Booth 3203 at the free event to be held at Fair Park in Dallas from 10-6pm this Saturday and Sunday.
The proprietary down-hole tool and well treatment uses a controlled electric plasma arc to clear sedimentation that clogs a well’s perforation zone and is designed to increase permeability of the reservoir resulting in increased oil recovery with no acidization, hydro-fracking or chemicals.
Propell has commenced commercialization with treatments over the last 9 months of dozens of U.S. wells. Click here for U.S. well treatment results.
“The objectives of sustainable oilfield jobs, clean recovery extraction and U.S. energy independence are double bottom line objectives and we intend to apply our newly commercialized technology to bring them about,” states John Huemoeller II, CEO. “Earth Day Texas is a perfect venue to highlight the environmental benefits of our plasma pulse enhanced oil recovery technology.”
Propell’s tool is being re-engineered in the United States with delivery expected Q2, to improve treatment costs and expand its U.S. market with improved compatibility with U.S. wire configurations and well diameters.
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 the Plasma Pulse enhanced oil recovery (EOR) well treatment that improves production cost effectively and without acidization, hydrofracking or other chemicals. It develops and commercializes treatment and stimulation of oil wells to meaningfully improve production and enhance the recovery of oil and gas in existing wells.
This press release includes forward-looking statements of 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," 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 results derived from 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, the factors described in our on Form 10-K for the year ended December 31, 2013, and any other filings we may make with the SEC. The information in this press release is provided only as of the date written, and we undertake no obligation to update any forward-looking statements contained in this press release on account of new information, future events, or otherwise, except as required by law.