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Acceleware Ltd V.AXE

Alternate Symbol(s):  ACWRF

Acceleware Ltd. is an advanced electromagnetic (EM) heating company with highly scalable EM solutions for large industrial applications. Its segments include High-Performance Computing (HPC) and RF Heating. The HPC segment sells proprietary high-performance computing software and related consulting services and training programs to the oil and gas industry. The RF Heating segment is engaged in research, development, and commercialization activities related to advanced electromagnetic heating using radio frequency (RF) energy. It is piloting RF XL, its patented low-cost, low-carbon EM thermal production technology for heavy oil and oil sands. It is also working with a consortium of potash partners on a pilot project using its patented and field proven Clean Tech Inverter (CTI) to decarbonize drying of potash ore and other minerals. It is actively developing partnerships for EM heating of other industrial applications in mining, steel, agriculture, cement, hydrogen and other clean fuels.


TSXV:AXE - Post by User

Post by ztransforms173on Mar 21, 2024 9:53pm
121 Views
Post# 35946268

I WAS VINDICATED: TOTAL REINSTALLATION Of ALL SUBSURFACE

I WAS VINDICATED: TOTAL REINSTALLATION Of ALL SUBSURFACECOMPONENTS:

RF XL pilot update

Operations at Acceleware's RF XL pilot began in early March, 2022, and successfully operated until July, 2022. At that time, the fibre optic distributed temperature sensing (DTS) system in the heating well was damaged during a maintenance operation. After the DTS break, RF power was reduced for safety and a plan for the workover was developed. The workover commenced in October, 2022, and included numerous upgrades of critical RF XL components. During redeployment of the system in Q1 2023 and Q3 2023 Acceleware identified degradation of some additional downhole components due to water ingress. The company has now determined with its industry partners that the most practical path forward involves a redeployment of all subsurface components.


***

- it is APPARENT WHY they RESISTED THIS OPTION TILL THE END

- it is a VERY EXPENSIVE RESOLUTION
to the CRITICAL SETBACK:

 

It was determined that the most practical path forward involves a redeployment of all subsurface components incorporating the multiple improvements and upgrades that Acceleware has made to the RF XL downhole system. Acceleware is actively sourcing an additional $5-million of funding to complete the redeployment. The redeployment is expected to enable higher power to be distributed in the reservoir for a sustained period in a second phase of heating.


z173


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