"The exposure we gain from presenting to such knowledgeable energy investors and industry participants is invaluable," expressed John W. Huemoeller II, President of Propell and Novas Energy USA.
Houston, TX (PRWEB) August 05, 2013
Propell Technologies Group Inc., (OTCQB: PROP) today announced its wholly owned subsidiary, Novas Energy USA Inc., plans to present results from the treatment of 9 wells in the U.S. of its licensed enhanced oil recovery technology to the Energy Prospectus Group on August 6, 2013 in Dallas.
The Energy Prospectus Group (EPG) is a networking organization for private investors that are heavily invested in the energy sector. EPG members are geologists, engineers, landman, financial professionals and small business owners. Many of them have decades of experience in the energy industry.
Novas will be presenting the results from the treatment of 9 wells in the U.S. of its 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 downhole tool and subsequent well treatment has been attributed with increasing oil production and injector well fluid flow in over 150 wells in Eastern Europe and 9 wells in the United States. It does so without any chemicals and therefore is deemed to be environmentally friendly. The treatment is created to clear the well drainage area of sedimentation clogging at the perforation zone and increase the permeability of the reservoir at the same time.
"This will be our first time in front of the Dallas Energy Prospectus Group. The exposure we gain from presenting to such knowledgeable energy investors and industry participants is invaluable," expressed John W. Huemoeller II, President of Propell and Novas Energy USA.
About - Novas Energy USA is a wholly owned subsidiary of Propell Technologies, OTC Markets: PROP. Novas 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.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 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.