Novas Energy USA Inc. To Unveil New Enhanced Oil Recovery Technology at NAPE
Propell Technology Group Inc., (OTCQB: PROP) today announced its wholly owned subsidiary, Novas Energy USA Inc., plans to unveil its newly licensed enhanced oil recovery technology as an exhibitor (Booth #2663) at the Winter North American Prospect Expo (NAPE) being held at the George R. Brown Convention Center in Houston, TX February 7-‐8, 2013.
NAPE is the world's largest E & P (upstream) conference, and is expected to attract thousands of attendees. Celebrating its 20th year, NAPE's "Transforming the Energy Landscape" theme has attracted an impressive line-‐up of distinguished industry leaders. The speakers and panelists include energy experts such as Steve Mueller, CEO of Southwestern Energy Company, Eli Gruber, CEO of Ecologix Environmental Systems, and T. Boone Pickens, Chairman of BP Capital Management, who will be discussing the significant impact that the unconventional oil and natural gas boom has had on the economy, job creation and in revitalizing energy dependent industries.
2013 will be the first year that Novas will host a booth as an exhibitor. During the expo, Novas management will showcase the 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 200 wells. 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.
We believe that the U.S. target market is indeed large since it is estimated that 87% of the known oil reserves in the U.S. remain abundant in the ground. By optimizing production efficiency, well enhancement and enhanced oil recovery, we expect that the Novas technology can extend the economic life of mature oil fields, sustaining more jobs and boost industry profits.
"Although proven only outside of the United States, NAPE provides us with an invaluable opportunity to introduce our technology within the U.S. industry and to establish ourselves as a new enhanced oil recovery player," expressed John W. Huemoeller II, President of Novas Energy USA. "The relationships we form at NAPE have the potential to provide new prospects for years to come."
About Propell Technologies Group, Inc.
Propell Technologies Group, Inc., operates in two different lines of business. As Novas Energy USA Inc., its wholly owned subsidiary, the company offers enhanced oil recovery technology and services through commercial application of a proprietary "Plasma-‐Pulse Technology.” Under the PropellShops brand, it provides web-‐based e-‐commerce solutions in which schools, nonprofits, teams or businesses can raise money by easily launching web stores featuring customized apparel and gifts featuring their brand, logo or other artwork.
Novas Energy USA Inc./Propell Technology Group Inc.
Novas Energy USA Inc., a wholly owned subsidiary of Propell Technology Group Inc., was recently organized to utilize its proprietary "Plasma-‐Pulse Technology" to enhance the recovery of oil. Our technology is designed to be suitable for oil wells as deep as 12,000 and to be highly effective, fast and economical. For more information, visit
http://www.novasenergyusa.com or call 713-‐227-‐0480, Novas Energy USA, 1701 Commerce Street, Houston, Texas 77002.