NBT Equities Research: Initiating Coverage on Propell Technologies Group, Inc. (PROP)
Game Changing Disruptive Technology for Oil Enhanced Recovery in the United States
The Company: Novas Energy USA ("Novas") is a wholly owned operating subsidiary of Propell Technologies Group, Inc. Novas is the exclusive US licensee of a proprietary new technology for the down hole treatment of marginally producing oil wells that has produced truly revolutionary increases in oil production in over 150 wells in Russia and 12-14 wells in the United States.
Fully Diluted Shares Outstanding: 253 Million
Approximate Market Capitalization: $88.5 Million
Current Share Price: .35
12-18 Month Target: $2.25 based on 2015E EPS of 4-5 cents a share