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Acceleware Ltd V.AXE

Alternate Symbol(s):  ACWRF

Acceleware Ltd. is a Canada-based company that develops clean-tech decarbonization technologies. The Company has two business units: Radio Frequency Heating Technology and Seismic Imaging Software. Its segments include High-Performance Computing (HPC) and RF Heating. Its HPC segment sells proprietary high-performance computing software and related consulting services and training programs primarily to the oil and gas industry. The RF Heating segment is engaged in research, development, and commercialization activities related to the Company’s proprietary enhanced heavy oil and oil sands production technology. It is focused on developing RF XL, a patented low-carbon production technology for heavy oil and oil sands. Its RF XL technology eliminates greenhouse gas (GHG) emissions associated with heavy oil and oil sands production. Its seismic imaging software solutions are for high fidelity imaging, providing the advanced imaging available for oil exploration in complex geologies.


TSXV:AXE - Post by User

Bullboard Posts
Comment by Lurker11on Jul 20, 2018 1:57pm
86 Views
Post# 28345660

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Goggles?

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Goggles?I work in the industry and know how tough the last few years have been on the oil and gas industry in NA (particularly small E&P's and service Co's) so your claim that they have been shopping Rigel for the last 5 years is certainly believable.  It is unlikely that any sale would occur (at least at a reasonable price) until the project was approved which just happened in June/18.
When the CEO of Prosper Petroleum says " testing the technology is strategic for Prosper because a successful deployment would allow us to transition quickly to a broader commercial development..." that says to me that they are serious about the importance of the success of the technology for them to either develop the project themselves or to help them market Rigel c/w the technology to a potential buyer.  Therefore the success of the technology may be as important to Prosper as it is to Acceleware who got everything they needed to conduct a commercial scale test (access to surface leases, the reservoir and engineering support) and didn't have to give up anything which is likely why Prosper was selected over much larger companies that were also interested.
A high grade all season road is needed to fully develop and produce Rigel (year round) but not necessarily for the exploratory work that Prosper has done in the past and not for the commercial scale test that Acceleware has to accomplish to prove the technology. I will ask Acceleware management next time I talk to them but I am sure this was considered and factored into their project plan (getting equipment in and out when needed is pretty basic and integral).




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