NEW SECRET O&G SPONSOR Of The CHALLENGING RF XL Project
In the nine months ended September 30, 2024, the Company worked closely with industry partners to progress next steps in the RF XL Pilot. An output of this work is the determination that the most practical path forward is to redeploy all subsurface components incorporating the multiple improvements and upgrades that Acceleware has made to the RF XL downhole system. During Q3, 2024, the Company continued to refine redeployment and test plans, confirming the $5 million cost estimate, which Acceleware is now actively sourcing. Since the end of Q2 2024, the Company has increased the total non-dilutive funding amount secured for the next phase of the RF XL Pilot, contingent on receiving the remainder of the $5 million. The Company has also secured RF XL consulting revenue from a confidential oil and gas operator, the net proceeds of which will be applied to the costs in the next phase of the RF XL Pilot. Additional RF XL consulting revenue from this operator may be available in 2025, the net proceeds of which will also be applied to the RF XL Pilot. The Company has identified several additional industry and government potential funders and is actively discussing the project with them. The primary outreach message is that the next phase of the RF XL Pilot is expected to enable higher power to be distributed in the reservoir for a sustained period, resulting in higher temperatures in the reservoir, and potentially greater oil production with the ultimate goal of further validating the commercial viability of RF XL. Please refer to the MDA for a complete RF XL Pilot update.
https://www.stockwatch.com/News/Item/Z-C!AXE-3623058/C/AXE
***
- that was the HUGE PROBLEM with the ORIGINAL RF XL Project
* there was NOT ENOUGH ELECTROMAGNETIC ENERGY RADIATED/INJECTED into the NORMAL IN-SITU RESERVOIRS to OBTAIN the DESIRED RESERVOIR TEMPERATURES to RAPIDLY MOBILIZE the HEAVY & MOLASSES-LIKE SOLIDITY of the RAW BITUMEN
- the NEWLY REDESIGNED RF XL APPARATUS will CORRECT & SOLVE this LIMITING OBSTACLE {HIGHER OPERATING reservoir TEMPERATURES & GREATER bitumen PRODUCTION}
- this will MASSIVELY INCREASE the COMMERCIAL ACCEPTANCE & SUCCESS of the RF XL TECHNOLOGY
z173