Novas Energy USA getting new tools.
http://www.prweb.com/releases/2014/06/prweb11938710.htm
PROP
Re: PROP
I saw them at the Marcum conf a couple of weeks ago. They seem to have potential, but their first "working" rig, if I recall correctly, isn't even in the field yet. They may have it in the field by 4th 1/4, and that would be for testing. Obviously, they have a way to go before they sell their concept in the mktplace. The company could have dramatic upside, but right now it is a crapshoot.
Re: PROP
Novas Energy USA is a 100% owned subsidiary of PROP. It does not have a "rig" and they never will. It is not a drilling company.
Today they have two Russian made Plasma Pulse "tools" in the field. The tools are lowered into existing vertical wells (by a contract wireline truck), lined up with the perf zone and then they set off plasma pulse bursts for about an hour (every 30 seconds are so). The shock wave clears out the perf zone and sends pulse waves through the formation to stimulate fluid movement. Novas has already treated move than 30 wells in the USA with fairly goods success. Look at earlier press releases.
Read the press release at the link above. Novas will be taking delivery of two new tools made in the U.S. this month. These new tools will work on a standard wireline truck. The Russian tools needed special adapters and they could only fit in wells with 5.5 inch or larger casing. Most wells in the U.S. have 4.5 inch casing.
See the Novas Energy USA website for more: http://www.novasenergy.com/
Today they have two Russian made Plasma Pulse "tools" in the field. The tools are lowered into existing vertical wells (by a contract wireline truck), lined up with the perf zone and then they set off plasma pulse bursts for about an hour (every 30 seconds are so). The shock wave clears out the perf zone and sends pulse waves through the formation to stimulate fluid movement. Novas has already treated move than 30 wells in the USA with fairly goods success. Look at earlier press releases.
Read the press release at the link above. Novas will be taking delivery of two new tools made in the U.S. this month. These new tools will work on a standard wireline truck. The Russian tools needed special adapters and they could only fit in wells with 5.5 inch or larger casing. Most wells in the U.S. have 4.5 inch casing.
See the Novas Energy USA website for more: http://www.novasenergy.com/
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: PROP
Houston, Texas (PRWEB) June 17, 2014
Propell Technologies (OTCQB:PROP), the exclusive US licensee of a plasma pulse well treatment for enhanced oil recovery (EOR) today announced it will exhibit its well stimulation treatment at the Global Hunter Securities 100 Energy Conference on June 24th-25th in Chicago, Il.
Press release: http://www.prweb.com/releases/2014/06/prweb11949910.htm
Propell Technologies (OTCQB:PROP), the exclusive US licensee of a plasma pulse well treatment for enhanced oil recovery (EOR) today announced it will exhibit its well stimulation treatment at the Global Hunter Securities 100 Energy Conference on June 24th-25th in Chicago, Il.
Press release: http://www.prweb.com/releases/2014/06/prweb11949910.htm
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: PROP
Two VERY DIFFERENT methods to enhance production.
> CO2 (mixed with water) adds pressure to the formation and it strips more oil from the rock as it moves through the zone. It is very expensive, but also a proven EOR method for large fields.
> Plasma Pulse energy waves don't add more pressure to the zone. They do "shake" more oil from the rock and allow it to flow to the wells. They also blow out the perfs. See Novas Energy USA website for more. A link is on the PROP website.
> CO2 (mixed with water) adds pressure to the formation and it strips more oil from the rock as it moves through the zone. It is very expensive, but also a proven EOR method for large fields.
> Plasma Pulse energy waves don't add more pressure to the zone. They do "shake" more oil from the rock and allow it to flow to the wells. They also blow out the perfs. See Novas Energy USA website for more. A link is on the PROP website.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: PROP
That is on the "To Do List". They take delivery of two new tools this month and the goal is to get them in the field working ASAP to generate revenues and prove the technology.
PROP is not profitable and VERY SPECULATIVE at this point.
PROP is not profitable and VERY SPECULATIVE at this point.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: PROP
I met Trent a couple weeks ago. He is a sharp guy and should be a big help for John. - Dan
HOUSTON, Texas, July 29, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Propell Technologies (PROP), the exclusive U.S. licensee of a plasma pulse well treatment for enhanced oil recovery (EOR) today announced the appointment of Trent Hunter as its Chief Technology Officer.
Mr. Hunter is the managing director of Sterling Enterprise Consulting Corporation since 1996, a private management, technical consulting and staffing company focused on the upstream oil and gas industry. Recently Mr. Hunter held the role of Global Business Development Manager for Blue Spark Energy Inc., a private technology based service company in the oil field industry from Nov 2011 to Oct 2013. From April 2010 to October 2011 Mr. Hunter held several senior roles with Neo Exploration Inc., a private energy development company. Mr. Hunter was the President, CEO and director of Hunter Energy Inc., a private junior oil and gas exploration and production company based in Calgary, Alberta from February 2006 to March 2009. During the period July 2004 to February 2006 Mr. Hunter was operations manager of Newalta Corporation. Early in his career Mr. Hunter was a wireline engineer working in numerous progressive roles for Schlumberger for nearly 10 years.
Mr. Hunter holds a Bachelor of Science (Engineering) degree from the University of Saskatchewan, is a Professional Engineer (Alberta), and holds a Masters of Business Administration from Erasmus University, Rotterdam, Netherlands.
"We would be hard pressed to find a more perfect fit than Mr. Hunter given his vast experience in the oil industry and look forward to his support as we launch our next generation tools to the industry as our new CTO," stated CEO John Huemoeller II.
"When I discovered what Propell had with its Plasma Pulse I immediately wanted to become involved and now I look forward to unveiling this world class technology," stated Trent Hunter.
For further updates and information on Propell Technologies please visit its corporate blog at blog.propell.com.
ABOUT PROPELL TECHNOLOGIES GROUP
Propell Technologies Group, Inc. (http://www.propell.com/), through its wholly owned subsidiary Novas Energy USA, is the exclusive U.S. licensee of the Plasma Pulse enhanced oil recovery (EOR) well treatment technology that improves production cost effectively without acidization, hydrofracking or other chemicals. It develops and commercializes treatment and stimulation of oil wells to meaningfully improve production and enhance the recovery of oil and gas in existing wells. For further information please visit http://www.propell.com.
SAFE HARBOR
This press release includes forward-looking statements of our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the results derived from use of our technology. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, the factors described in our on Form 10-K for the year ended December 31, 2013, and any other filings we may make with the SEC. The information in this press release is provided only as of the date written, and we undertake no obligation to update any forward-looking statements contained in this press release on account of new information, future events, or otherwise, except as required by law.
Contact:
Patrick Gaynes
patrick.gaynes@propell.com
(713) 766-5546
HOUSTON, Texas, July 29, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Propell Technologies (PROP), the exclusive U.S. licensee of a plasma pulse well treatment for enhanced oil recovery (EOR) today announced the appointment of Trent Hunter as its Chief Technology Officer.
Mr. Hunter is the managing director of Sterling Enterprise Consulting Corporation since 1996, a private management, technical consulting and staffing company focused on the upstream oil and gas industry. Recently Mr. Hunter held the role of Global Business Development Manager for Blue Spark Energy Inc., a private technology based service company in the oil field industry from Nov 2011 to Oct 2013. From April 2010 to October 2011 Mr. Hunter held several senior roles with Neo Exploration Inc., a private energy development company. Mr. Hunter was the President, CEO and director of Hunter Energy Inc., a private junior oil and gas exploration and production company based in Calgary, Alberta from February 2006 to March 2009. During the period July 2004 to February 2006 Mr. Hunter was operations manager of Newalta Corporation. Early in his career Mr. Hunter was a wireline engineer working in numerous progressive roles for Schlumberger for nearly 10 years.
Mr. Hunter holds a Bachelor of Science (Engineering) degree from the University of Saskatchewan, is a Professional Engineer (Alberta), and holds a Masters of Business Administration from Erasmus University, Rotterdam, Netherlands.
"We would be hard pressed to find a more perfect fit than Mr. Hunter given his vast experience in the oil industry and look forward to his support as we launch our next generation tools to the industry as our new CTO," stated CEO John Huemoeller II.
"When I discovered what Propell had with its Plasma Pulse I immediately wanted to become involved and now I look forward to unveiling this world class technology," stated Trent Hunter.
For further updates and information on Propell Technologies please visit its corporate blog at blog.propell.com.
ABOUT PROPELL TECHNOLOGIES GROUP
Propell Technologies Group, Inc. (http://www.propell.com/), through its wholly owned subsidiary Novas Energy USA, is the exclusive U.S. licensee of the Plasma Pulse enhanced oil recovery (EOR) well treatment technology that improves production cost effectively without acidization, hydrofracking or other chemicals. It develops and commercializes treatment and stimulation of oil wells to meaningfully improve production and enhance the recovery of oil and gas in existing wells. For further information please visit http://www.propell.com.
SAFE HARBOR
This press release includes forward-looking statements of our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the results derived from use of our technology. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, the factors described in our on Form 10-K for the year ended December 31, 2013, and any other filings we may make with the SEC. The information in this press release is provided only as of the date written, and we undertake no obligation to update any forward-looking statements contained in this press release on account of new information, future events, or otherwise, except as required by law.
Contact:
Patrick Gaynes
patrick.gaynes@propell.com
(713) 766-5546
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group