Here’s a great video to see for yourself how Propell’s microfracking Plasma Pulse Technology works inside an oil well.

Pretty cool!

Plasma Pulse Technology Video

Disclaimer

Propell Technologies Group (OTCQB: PROP), the exclusive U.S. licensee of a plasma pulse technology for enhanced oil recovery (EOR) announced it has successfully treated six wells in California, including one with the company's new U.S. made, 3.5 inch tool.

The Company treated five wells in the Monterey Shale belt in Bakersfield area, two injector wells, three producers, and one injector well in Los Angeles County.

Key Points:

This is a real turning point for the company...we estimate these projects in the $20,000 per well price range.

Each new smaller diameter Plasma-Pulse tool can do up to 20 of these enhances oil recovery jobs a month with just one technician and one wireline truck. That is one less man and one less truck in costs than the original Plasma-Pulse tool from Russia, and at least 50% higher margin per well.

Propell Technologies today confirmed a June delivery of its next generation, downhole well stimulation tool.

Upon delivery, the company expects to be able to treat the estimated 1 million US vertical and directional wells in its market as opposed to only those with 5.5” casings, estimated to be about half of those in the US.