California Fracking Issue Update

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The fracking issue continues to receive significant attention in California as opponents recently released an analysis of chemicals used in the fracking process. The NGO Environmental Working Group (EWG) using data from California wells released a report identifying 197 unique chemicals used in 691 California wells between December 2013 and February 2015. 15 of those […]

OPEC Only Hurting Itself?

On Tuesday, OPEC released July production numbers which showed the 12 member nations together produced 31.51 million barrels a day last month. That level is OPEC’s highest since May 2012 and 1.5 million barrels a day higher than the output ceiling set in June. OPEC’s production levels have already led to a 2.87 million barrel […]

Propell Announces JV With Technovita to Develop and Sell Plasma Pulse Well Treatment in North America

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Today Propell announced that its wholly owned subsidiary, Novas Energy (USA), Inc., has entered into an agreement with Technovita Technologies USA, Inc. (“Technovita”) to form Novas Energy North America, LLC, a newly formed Delaware entity (the “Joint Venture” or “JV”). Propell will invest $1.2 million for a 60% joint venture interest and Technovita will invest […]

California Fracking Study Inconclusive

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As part of the final implementation of California Senate Bill 4 (SB 4), a state-mandated independent study of fracking practices was released last week. According to SFGate, the study “found no cases in California of groundwater contamination due to fracking or stimulating oil wells with acid.” In addition, the study was unable to correlate disposal […]

Propell Announces Additional $9,750,000 Strategic Equity Investment by Ervington

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On February 19, 2015, the Company raised $5,000,000 from the sale of 1,525,424 shares of its Series C Preferred Stock (“Series C Preferred”) at a purchase price of $3.28 per share. Ervington Investments also received an option to invest an additional $9,750,000 in consideration of the issuance of an additional 2,974,576 shares of Series C […]