HOUSTON, TX--(NewMediaWire - Jan 6, 2016)
- Propell Technologies Group,
Inc. (OTCQB: PROP) (the "Company"), the U.S. provider of a
plasma pulse based enhanced oil recovery technology, announced the
appointment of C. Brian Boutte as chief executive officer
(CEO).
John Huemoeller II will remain on the board of directors and as
a consultant to the company.
Based in Houston, Mr. Boutte has a longstanding record of
achievement in exploration and production, new ventures and
M&A, having served for 10 years in senior management roles at
Hunt Oil and SK E&P Americas.
During his 37 years in E&P, he has completed major oil/gas
acquisitions, increased production and asset value and has made
significant commercial hydrocarbon discoveries.
"Brian's goal is to opportunistically acquire undervalued assets
and maximize production output to achieve value growth," stated
Ivan Persiyanov, Investment Director at majority shareholder
Ervington Investments. "We are glad to have him leading the Company
into the next phase of implementation".
"We believe this time of uncertainty in global E&P presents
significant opportunities to profitably acquire and grow producing
assets," stated Boutte. "I'm confident my familiarity with the
industry landscape combined with Propell's financial capabilities
should provide a strong return and accelerate value growth for
shareholders. We're pleased to have John staying on as a director
and consultant, and we value his achievements in getting Plasma
Pulse to its current commercialization stage."
ABOUT PROPELL TECHNOLOGIES GROUP
Propell Technologies Group (http://www.propell.com/), through its joint
venture, Novas Energy North America (NEMA) sells and services a
patented oil well treatment which is designed to improve well
production cost effectively and without acidization, hydrofracking
or other chemicals. Plasma Pulse Technology uses impulse waves
created by a down-hole plasma arc to clear near well bore damage
and restore flow into the shaft and through to the surface.
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 the opportunities expected to acquire
and grow undervalued producing assets and the contribution expected
to be made by Mr. Boutte. 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
find suitable acquisitions, fuel our growth for shareholders and
the other factors described in our Form 10-K for the year ended
December 31, 2014, and our other filings we have made or 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.