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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

Post by ztransforms173on Feb 12, 2024 5:38pm
129 Views
Post# 35876417

CJ MOVES AHEAD With REFORD 6,000 Bbls/d BOP SAGD PROJECT

CJ MOVES AHEAD With REFORD 6,000 Bbls/d BOP SAGD PROJECT- CARDINAL ENERGY LIMITED OWNS the 7.5% ROYALTY on the AXE MARWAYNE RF XL PILOT 

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Operations Update

Saskatchewan Thermal Project Update

Cardinal has entered into an agreement with Propak Systems Ltd. (“Propak“) for the engineering, fabrication and field construction of the Reford, Saskatchewan central processing facility, including the first steam assisted gravity drainage (“SAGD“) well pad. The fixed-price agreement with Propak, which represents approximately half of the total estimated project cost, provides cost certainty for Cardinal, in addition to reducing manufacturing uncertainty as a result of Propak’s ability to manufacture and fabricate the modular facilities in a controlled indoor environment.

As previously communicated in the Company’s 2023 third quarter earnings release issued on November 6, 2023, Cardinal has initiated a SAGD project in its Reford, Saskatchewan operating area, that upon completion, is expected to produce approximately 6,000 bbl/d (100% heavy crude oil). The initial development phase of the project is expected to be completed within a budget of $155 million prior to the end of fiscal 2025.

https://boereport.com/2024/02/12/cardinal-energy-ltd-announces-february-dividend-and-operational-update/

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z173

 

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