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Propell Technologies (OTCQB: PROP) receives target price of $0.27 from SeeThru Equity

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Today’s buy recommendation comes from New York based SeeThruEquity, which has initiated coverage on Propell Technologies Group, Inc., which trades on the OTCQB under the symbol PROP. Analyst Jordan Ring gives the company a 12-month target price of $0.27, a premium of 285% to the $0.07 price on April 21st, the day the report was issued.

Additional Information:

Company: Propell Technologies
Website: http://www.propell.com
Stock Symbol: OTCQB: PROP
Date Published: Apr 29, 2016
Transcript: Available

Video Transcript:

I’m Tia Borden for Investmentpitch Media

Today’s buy recommendation comes from New York based SeeThruEquity, which has initiated coverage on Propell Technologies Group, Inc., which trades on the OTCQB under the symbol PROP. Analyst Jordan Ring gives the company a 12-month target price of $0.27, a premium of 285% to the $0.07 price on April 21st, the day the report was issued.

Propell Technologies, Inc. is an oil exploration and production acquisition company, whose largest shareholder is Ervington Investments backed by billionaire investor and Chelsea Football Club owner – Roman Abramovich.

The company intends to build and grow a base of producing assets by leveraging operational expertise and a proprietary, Plasma Pulse well treatment that uses no acidization, hydrofracking or other chemicals.

Without chemicals, Plasma Pulse is designed to clear well drainage area of sedimentation at the perforation zone and increase production.

To date, Plasma Pulse Technology has been proven safe in more than 200 wells internationally.

Propell has an exclusive license in the US and Mexico to utilize the technology for third parties, to license it to other parties, and to use on the company’s assets in those countries.

Their plan is to further benefit from a corresponding development of untapped hydrocarbon reserves as oil supply/demand rebalances and prices rebound.

In the near term, the company is focusing on conventional asset targets in Texas, Oklahoma, and Louisiana.

Analyst Jordan Ring stated: “Plasma Pulse Technology has the potential to drive revenue growth for energy producers and become a new standard for the petroleum industry”.

The company is led by new CEO, Brian Boutte, a third generation oil and gas profession, who stated: “Our largest shareholder provides us with capital access, rare for many independent oil companies of our current stage and size. Such reliability of capital should allow us to secure assets at more favorable terms and achieve greater margins, especially important in the current low oil price environment.”

The company currently trades at $0.08, well below the $0.27 target price, and with 269 million shares outstanding, the company is capitalized at $21.5 million.

For more information about Propell Technologies, please visit the company’s website www.propell.com
or contact Brian Boutte, CEO, at 713-766-5546 or email investors@propell.com.

For more information about SeeThruEquity or to obtain a copy of their research report, please visit the company’s website www.seethruequity.com or contact Ajay Tandon, Director of Research, at 646-495-0939 or email ajay@seethruequity.com..

I’m Tia Borden for Investmentpitch Media