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

Contact Info

1701 Commerce Street

2nd Floor

Houston, TX 77002

United States

Phone: 713-227-0480


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.


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