Calgary, Alberta--(Newsfile Corp. - December 9, 2025) - Acceleware Ltd. (TSXV: AXE) ("Acceleware" or the "Company") is pleased to announce that it has entered into a farm-in agreement (the "Agreement") for one section of land targeting the Mannville Stack in Saskatchewan to conduct a demonstration of Acceleware's RF XL 2.0 technology.
Under the Agreement, Acceleware will have the opportunity to drill an RF XL 2.0 horizontal well pair in 2026 in exchange for a gross overriding royalty. Upon payout of Acceleware's invested capital, the farmor's royalty converts to a 40% working interest. The Agreement also provides the potential to drill additional well pairs on the property.
"This farm-in Agreement is a key step in Acceleware's strategy to accelerate RF XL 2.0 commercialization by assembling a portfolio of heavy oil production rights," said Geoff Clark, Chief Executive Officer of Acceleware. "We are looking for heavy oil resources that cannot be economically developed any other way, so Acceleware views the Mannville Stack in western Canada as a key target area for RF XL 2.0. This farm-in property is ideal in that respect, it has higher viscosity, and while it has significant oil in place, it is not large enough to be economically developed via thermal methods such as SAGD. With similar locations throughout western Canada, it is an opportunity to demonstrate how RF XL 2.0 can increase production, reduce operating costs, lower energy consumption and drive favourable economics."
Deployment of RF XL 2.0 on this property is expected to enable Acceleware to utilize the conditionally approved Saskatchewan Petroleum Innovation Incentive transferrable royalty credit.
About Acceleware
Acceleware is an advanced electromagnetic (EM) heating technology company offering proprietary radio frequency (RF) power-to-heat solutions that increase production, reduce energy consumption and lower operating costs in large-scale industrial heating.
Its core innovation, the Clean Tech Inverter (CTI), is field-proven through an initial commercial-scale pilot of RF XL, Acceleware's thermal enhanced oil recovery technology designed to increase heavy oil production.
Acceleware is leveraging CTI expertise across sectors, with three mining projects underway for major operators and an amine regeneration project intended to dramatically reduce energy and costs also in progress.
Acceleware is publicly listed on the TSX Venture Exchange under the symbol AXE.
Disclaimers
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", "anticipates", "plans", "continues", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations or negatives of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might", "shall" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
In this news release, forward-looking statements relate to, among other things, statements relating to the benefits of RF XL 2.0, the use of RF XL 2.0 at the subject property in the Agreement, and the payout and conversion of the royalty into a working interest at the subject property. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The material facts and assumptions include initial studies of applicability RF XL 2.0 to the Mannville Stack heavy oil resource in western Canada. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. The Company cautions the reader that the above list of risk factors is not exhaustive and additional risk factors risk factors are described in detail in Acceleware's continuous disclosure documents, which are filed on SEDAR+ at www.sedarplus.ca. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Acceleware Ltd.
Geoff Clark
Chief Executive Officer
geoff.clark@acceleware.com
www.acceleware.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277390
SOURCE: Acceleware Ltd.