SeeThruEquity Initiates Coverage on Propell Technologies Group, Inc. (OTCQB: PROP) with a Price Target of $0.27

NEW YORK, NY / ACCESSWIRE / April 21, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has initiated coverage on Propell Technologies Group, Inc. PROP with a price target of $0.27.

The report is available here: PROP Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

Propell Technologies, Inc. is an oil exploration and production (E&P) 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. PROP's plan is to further benefit from a corresponding development of untapped hydrocarbon reserves once oil supply/demand rebalances and prices rebound. Propell, through its wholly owned subsidiary Novas Energy USA ("Novas"), is engaged in the commercial application of its proprietary Plasma Pulse Technology that is used to enhance the recovery of oil. The technology is environmentally friendly, as it is designed to increase oil production and injector well fluid flow without any chemicals associated with hydraulic fracturing. PROP has a perpetual exclusive license to utilize the technology in the United States and Mexico. In March 2013, Propell began introducing the Plasma Plus Technology in the US on a limited basis.

"In addition to its relationship with Novas Energy, PROP intends to cooperate with more companies to increase its market shares in the oil exploration industry. In 2015, Novas entered into an operation agreement with Technovita. Novas, the wholly subsidiary of PROP, will be the exclusive provider of vertical technology to third parties in the US and Canada. As a result, we expect the company will engage in more joint venture opportunities by acquiring advanced oil-producing assets and technologies and focusing on increasing service revenue from these projects. The company has also shown success in its research and development process during the past years. In 2015, the company successfully completed initial production of US-made wireline applied tools that allows for deployment in more oil fields and redesigned products to increase its effectiveness by reducing the operator learning curve," stated Ajay Tandon, CEO of SeeThruEquity. "We are initiating coverage with a 12-month price target of $0.27 per share."

Additional highlights from the report are as follows:

Capitalizing on oil fluctuation with an opportunistic acquisition strategy

With a targeted and repeatable leasehold acquisition plan PROP plans to leverage management's operational experience and enhance production with its patented Plasma Pulse well treatment- where appropriate. The current market conditions make it a favorable time to make such asset purchases. Many companies in this space have suffered due to depressed commodity prices and as a partial consequence have had difficulty paying creditors. Despite oil's rebound from $27/bbl, such overleveraged companies are less likely to survive as their access to capital has diminished alongside their borrowing base. As a result, asset liquidation is imminent at attractive values. Even with oil in the $40s, in scenarios whereby a company can subsist as a going concern, the company will need to divest quality assets to raise cash. To be sure US unconventional drilling has suffered; however, the economics may not be in their favor given the high initial negative cash flow and the prospect of poorer-than-expected outcomes for project payouts and IRR.

Advanced technology - Plasma Pulse enhance production

Plasma Pulse uses enhanced oil recovery (EOR) techniques that seeks to increase oil flow and prolong life cycles of oil fields. EOR techniques include water flooding, thermal, CO2 or chemical injections. PROP 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 PROP's assets in those countries. The technology and EOR methodology have been developed to be environmentally friendly, mobile, time efficient and cost effective. Plasma Pulse Technology has the potential to drive revenue growth for energy producers and become a new standard for the petroleum industry. 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 200+ wells internationally.

Initiate coverage with a price target of $0.27

Our analysis indicates a fair value estimate of $0.27 per share, implying an upside of 292.5% from the recent price of $0.07. We view PROP as a speculative investment in the oil/gas industry. We see material growth for Propell Technologies in the near future.

Please review important disclosures at www.seethruequity.com.

About Propell Technologies, Inc.

Propell Technologies, Inc. PROP is an oil exploration and production (E&P) acquisition company which intends to build and grow a base of producing assets by leveraging M&A and operational expertise, and by using advanced technology including a Plasma Pulse well treatment which uses no acidization, hydrofracking or other chemicals. Its plan is to further benefit from a corresponding development of untapped hydrocarbon reserves once oil supply/demand rebalances and prices rebound. PROP is headquartered in Houston, Texas.

For more information, please visit the company's website at www.propell.com.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity