Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last $0.13 USD
Change Today -0.005 / -3.85%
Volume 20.2K
PROP On Other Exchanges
Symbol
Exchange
OTC BB
As of 9:50 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).
text size: T | T
Back to Snapshot
Company Description

Contact Info

1701 Commerce Street

2nd Floor

Houston, TX 77002

United States

Phone: 713-227-0480

Fax:

Propell Technologies Group, Inc., through its wholly owned subsidiary, Novas Energy USA, Inc. (Novas), engages in the commercial application of a proprietary ‘Plasma-Pulse Technology’ to enhance the recovery of oil in the United States and Mexico. The company licenses the ‘Plasma-Pulse Technology’ from the Novas Energy Group Limited (Licensor), pursuant to the terms of an exclusive perpetual royalty bearing license the company entered into in 2013. The company has 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 license is limited to the United States and Mexico. The company has used the Plasma Pulse Technology to treat approximately 40 oil and injector wells located in 8 states; Louisiana, Oklahoma, Kansas, Texas, California, Tennessee, Colorado and Wyoming. Novas oil recovery enhancement Novas has the right to practice, develop, use, market and commercialize the proprietary process of the Licensor, which consists of a specially designed apparatus and certain proprietary technology, methods and processes that might be applied to enhance the production of hydrocarbon deposits using metallic plasma-generated, directed, non-linear, wide-band and elastic oscillations at resonance frequencies. The Licensor has filed for patent protection of its technology in the United States and Mexico. The process utilizes a down-hole tool that is lowered into vertical wellbores to the perforated oil producing zone. When initiated, the tool delivers metallic plasma-generated, directed, non-linear, wide-band elastic oscillations at resonance frequencies to enhance oil production using the tool developed by the Licensor and enhanced by Novas. The Plasma Pulse Technology is suitable for oil wells as deep as 12,000 feet. The company developed U.S. made tools to treat 4 ½-inch cased wells and has begun using the tools. 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 the company organizes and/or disclose 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. Target Customers The company’s target customers are smaller marginal or ‘stripper oil wells’ that have experienced reduced oil production. In 2014, the company treated seven wells for major oil companies under non-disclosure agreements. History Propell Technologies Group, Inc. was founded in 2012.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
PROP:US $0.13 USD -0.005

PROP Competitors

Market data is delayed at least 15 minutes.

Company Last Change
No competitor information is available for PROP.
View Industry Companies
 

Industry Analysis

PROP

Industry Average

Valuation PROP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 182.6x
Price/Book 2.8x
Price/Cash Flow NM Not Meaningful
TEV/Sales 125.2x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact PROPELL TECHNOLOGIES GROUP I, please visit www.propell.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.