Closing Friday at -11.69% below their 10 Day SMA, the penny stock of Propell Technologies Group, Inc. (PROP) hopes to get hot again like their technology calls for. Having yet to book any revenues from their acquisition of Novas Energy back in February, PROP stock is still worthy of a spot on the radar with a strong chance of returning to above $1 again at some point this month. Having just recently wrapped up an appearance at the Global Hunter Securities 100 Energy Conference, a positive open on Monday could produce the “plasma-pulse” traders need to start the week.
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PROP Stock Quote
Market Cap: 91.41M
Friday Close: 0.68 ▲ +0.04 (+6.25%)
Dollar Volume: $17,670
Issued and Outstanding: 134,432,871
14-Day Rel Strength: 44.86%
14-Day Stochastic: 24.14%
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Propell Technologies is banking on Novas Energy’s ability to produce a high-voltage current of 3000V to 5000V, taken from a bank of storage capacitors to the electrodes, and closed via a calibrated conductor causing its explosion with plasma formation in a closed space. Back on February 4, 2013, the Company entered into a Share Exchange Agreement with Novas Energy (USA), acquiring them in exchange for 100,000,000 shares of PROP stock and making them a wholly owned subsidiary.
The Company just recently brought on Dan Steffens to replace Ed Bernstein as a director of Propell. Steffens has a three decade trac record in the energy sector and is the President of Energy Prospectus Group (EPG) in Houston, Texas which has over 400 members that are primarily high net worth individual investors that are heavily invested in the energy sector.
If those 400 members can get tapped into seeing the future in Propell’s proprietary “Plasma-Pulse Technology”, there is a good chance that PROP stock can make its way back to above $1 in the not-so-distant future. 25,000,000 shares of PROP were already converted during Q1 to convertible note holders upon conversion of an aggregate of $500,000, $0.02 per share.
The financing deals and move to tap into Steffens’ rolodex is a clear sing that PROP is still looking to fund their ability to test and take to market the plasma technology they went after Novas Energy for. If they can prove that during the explosion, the shock-wave produced and generated plasma can be a factor and that the amount of recoverable oil is worth more than the application used to extract it, PROP could find itself doing a ton of business all over the U.S. 5-10 years from now.
About PROP Stock
Propell Technologies Group, Inc., through their wholly owned subsidiary, Novas Energy (USA), has an exclusive license to engage in the commercial application of a proprietary “Plasma-Pulse Technology” to enhance the recovery of oil and gas in the United States.
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PROP is likely to be one of those slow moving penny stocks which doesn’t really grab your attention until it’s already doubled from the point when you first lay eyes on it. With little volatility and limited volume on “big days”, PROP stock is one of those buy-and-hold positions that are better suited for the more patient investor than the aggressive trader.
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