Propell Technologies Group Inc. (OTCQB: PROP) announces Kansas Mississippi Lime Report Showing Continued Success
Houston, TX (PRWEB) July 10, 2013 -- In April of 2013, Novas Energy treated two very small wells in Kansas in the Mississippi Lime Sandstone formation. Following a couple of weeks of increased fluid volume, the oil cut considerably increased and both Novas Energy and the operator of the wells attribute the increase to Novas’ new licensed revolutionary technology.
R. A. “Dick” Shremmer, the owner of Bear Petroleum the Operator of the wells and also a past president of the Kansas Independent Oil and Gas Association said “ I was skeptical at first but thought what the heck Columbus took a chance. Now I am very pleased that I did as the production on both wells treated by Novas Energy doubled after Novas Energy performed the service on the wells, and I look forward to using their services in the future.”
According to Mr. John Huemoeller II, the CEO of Novas Energy and Propell who was present and assisting the deployment team, “we knew this would be the most challenging treatment to date because the perforation zone particularly on one of the wells was very small. Typically we see oil payzones of at least 10-15 feet or more and all we had to work with was a 3-foot target on a severely depleted well. So when we got the report back showing another 100% increase in oil production, we were ecstatic.“
Novas Energy has now treated three wells in the Mississippi Limestone formation with initial success to date. The Mississippi Limestone formation covers millions of acres in northern Oklahoma running into central Kansas and could provide Novas Energy with an inventory of wells to treat for many years to come.
About Propell
Novas Energy is a wholly owned subsidiary of Propell. Novas Energy develops and implements next generation enhanced oil recovery tools and processes in the U.S. oil services industry that has been shown to significantly improve existing well recovery and oil production volumes. For more information, visit http://www.novasenergyusa.com or call 713-227-0480, Novas Energy USA, 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.
John W. Huemoeller II, Propell Technologies Group, Inc, http://www.propell.com, 7132270480, [email protected]
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