Propell announces operational launch of new joint venture

Propell Technologies Group Inc., a US provider of a plasma pulse based enhanced oil recovery technology, has announced the operational launch of its previously announced joint venture (the JV) between its wholly owned subsidiary, Novas Energy USA (Novas) and Technovita Technologies USA (Technovita), Novas Energy North America (NENA).

NENA was formed to sell and deliver oil well treatments using Plasma Pulse Technology that had been licensed to Novas for the US and Technovita for Canada.

Technovita is a Calgary, Alberta based oil and gas technology service company with more than 20 North American employees including petroleum engineers, geologists, wireline and well site workover specialists and project managers with business development and commercialization expertise for use of new technologies and the management of large service companies.

NENA will be led by CEO Ken Stankievech with 35+ years experience building an international service company. Management also includes:

Jim McGowin, EVP - 25 years' experience; is based in Houston and will oversee sales and marketing for the JV in the U.S. McGowan was with Baker Hughes in their Down-hole Tools Division.

A. Poustovoit, EVP - 30+ years; Russian and Canadian Geologist, Mr. Poustovoit has led operational development projects for several multi-national oil and gas companies around the world.

Tom Andrews, EVP - 30+ years business development and senior project management including finance and administration in commercializing new technologies.

Tom Lagerhausen, CFO - 30+ years finance executive for public and private companies.

Steve Patrick, U.S. Operations - 30+ years experience as an oil and gas production owner. Led a prominent oil & gas development and production company in most producing regions in the US.

Rob Breakell, Operations Canada - 30+ years wireline and workover service provider for every major oil and gas production company in Canada.

Lee Primeau, 20+ years business development, sales and marketing; is expected to oversee sales and marketing in Canada.

"We're pleased to have this joint effort to sell and deliver Plasma Pulse across North America up and running with the first treatments already complete," mentioned John Huemoeller II, Propell CEO. "We're confident the Technovita team will provide significant shareholder value to Propell and we look forward to working with them.”

Edited from press release by Angharad Lock

Read the article online at: https://www.oilfieldtechnology.com/exploration/27102015/propell-announces-operational-launch-of-new-joint-venture-1468/