HOUSTON, Texas, Nov. 24, 2014 (GLOBE NEWSWIRE) -- via PRWEB - John Huemoeller II, CEO of Propell Technologies Group (OTCQB:PROP), the U.S. provider of a plasma pulse based petroleum well treatment, has been advised by a major operator that it's 4th quarter 2014 well treatments produced a significant and sustained increase in injection capacity.
Propell was also advised by the customer of plans for further treatments in 2015.
Propell learned the results from reports from the customer documenting a significant and sustained increase in injection capacity weeks after being brought online.
"We're pleased to have exceeded expectations for this important customer and I am proud of our team for gearing up to meet the stringent vendor requirements of major oil and gas operators," commented Mr. Huemoeller.
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 that improves well production cost effectively and 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.
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 our belief that our Plasma Pulse treatment will be among the highest value options for operators seeking injector well treatments, accelerating our sales efforts in this market and the continued positive 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, our ability to establish our Plasma Pulse treatment as a high value option for operators seeking injector well treatments, accelerating our sales efforts in this market and the results derived from use of our technology, secure additional financings on attractive terms, to help fuel our growth and operations and the other 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.
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