Propell Technologies Group, Inc. engages in the commercial application of a proprietary Plasma Pulse Technology to improve the recovery of oil in the United States and Mexico. The company through its wholly owned subsidiaries, Novas Energy USA, Inc. (Novas) and Novas Energy North America, LLC (NENA), intends to improve oil production using the Plasma Pulse Technology. Novas has an exclusive, perpetual license to engage in the commercial application of a proprietary plasma-pulse treatment (the Plasma Pulse Technology) technology in the United States and Mexico, which it licenses from Novas Energy Group Limited (Licensor) and sublicenses on an exclusive basis to its majority owned subsidiary, NENA, for use in the United States and Canada. Plasma Pulse Technology In 2013, Novas entered into the exclusive, perpetual royalty bearing License Agreement with the Licensor, which was amended in March 2014 and further amended in December 2014, which granted Novas the right to practice, develop, use, market, and commercialize the proprietary process of the Licensor, which consists of an apparatus and certain proprietary technology, methods and processes that might be applied to improve the production of hydrocarbon deposits using metallic plasma-generated, directed, non-linear, wide-band and elastic oscillations at resonance frequencies. The amended License Agreement provides Novas with the right to practice the licensed process and to utilize the Plasma Pulse Technology to provide services to third parties and for the company as well, and to sublicense the Plasma Pulse Technology in the United States and Mexico. The amended License Agreement also provides Novas with the right to design and has manufactured the apparatus and to make modifications and improvements to the Plasma Pulse Technology provided that the Licensor is provided a non-exclusive license to any such improvements and modifications and any patent rights of Novas related to the Plasma Pulse Technology. As of December 31, 2015, the company has used the Plasma Pulse Technology to treat approximately 40 wells in the United States in 8 states: Kansas, Louisiana, Oklahoma, Wyoming, California, Tennessee, Colorado and Texas; and 12 wells in Alberta, Canada. Majority of the wells experienced an increase in oil production or injection rates after being treated with the Plasma Pulse Technology. Intellectual Property The company licenses the ‘Plasma-Pulse Technology’ from the Licensor, pursuant to the terms of an exclusive perpetual royalty bearing license it entered into in January 2013, which was amended in March 2014 and further amended in December 2014. The amended license agreements provides the company with the exclusive right to develop, use, market, and commercialize the Plasma Pulse Technology for itself and/or third parties, sublicense and provide related services to third parties in the United States and Mexico, including all of its states, districts, territories, possessions and protectorates. The amended license agreement also provides Novas with the right to design and have manufactured the apparatus and to make modifications and improvements to the Plasma Pulse Technology provided that the Licensor is provided a non-exclusive license to any such improvements and modifications and any patent rights of Novas related to the Plasma Pulse Technology. The license is limited to the United States and Mexico. Regulations The company is subject to the requirements of the federal Occupational Safety and Health Act (OSHA), and comparable state laws. The OSHA hazard communication standard, the EPA community right-to-know regulations under the Title III of CERCLA and similar state laws require that it organizes and/or discloses information about hazardous materials used or produced in its operations. Also, pursuant to OSHA, the Occupational Safety and Health Administration has established various standards related to workplace exposure to hazardous substances and employee health and safety. History Propell Technologies Group, Inc. was founded in 2012.
propell technologies group i
10655 Bammel North Houston Road
Houston, TX 77086
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