Boosting Oil Production Without Drilling New Wells

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Looking at recent reporting from oil field services companies, there’s been a trend for more workovers and recompletions compared to drilling new wells. This represents a re-allocation of budget to increasing production from proven assets in the wake of uncertainty surrounding current oil prices. Workovers occur when a company services an existing wellbore to clean […]

Propell Comments on Recent Financing

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On February 19th, Propell announced a financing of $5,000,000 from the investment company global resource investor, Roman Abramovich. A possible second tranche of $9,750,000 is provided for in an additional option, proceeds of which may be used to acquire producing assets most likely to experience increased production from Plasma Pulse treatment. Propell views the financing […]

Propell Announces $5,000,000 Strategic Equity Investment by Ervington Investments

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We’ve 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 $3.277777778 per share in the first tranche of a private financing with Ervington Investments Limited, whose ultimate beneficial owner is businessman Roman Abramovich. Ervington Investments also has an option to invest an […]