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 […]

Propell Places First Commercial Order for Next Generation Plasma Pulse Tools

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We’ve completed field testing of our new, U.S. made wireline applied plasma pulse tool and have ordered our first commercial shipment of seven tools. Improvements include a topside power supply that allows a smaller footprint inside wireline trucks, a more narrow 3.5″ diameter that will fit 4.5″ diameter wells and the tool is compatible with […]

Is ‘Peak Oil’ Coming?

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In 1956, M. King Hubbert’s “Peak Oil” theory originally predicted global oil production would peak in 1970 and fall off at the same rate as it grew. In 1969, Hubbert revised his theory and changed the year of the peak to 2000. According to this Earth Policy institute report, world oil production was 48.06 million […]