Acceleware Ltd. Enters into Farm-In Agreement in Saskatchewan Mannville

Executive Summary

• Acceleware entered a farm‑in agreement for a Mannville Stack land parcel in Saskatchewan to demonstrate its RF XL 2.0 heavy‑oil technology.
• The company may drill an RF XL 2.0 horizontal well pair in 2026, receiving a gross overriding royalty that converts to a 40% working interest after payout of invested capital, with optional additional wells.
• The project is positioned to leverage the conditionally approved Saskatchewan Petroleum Innovation Incentive transferable royalty credit and supports Acceleware’s strategy to commercialize RF XL 2.0 in heavy‑oil reservoirs unsuitable for conventional thermal methods.

Key Details

• Agreement Scope: One land section targeting the Mannville Stack; right to drill an RF XL 2.0 horizontal well pair in 2026.
• Royalty Structure: Gross overriding royalty payable to Acceleware; upon repayment of invested capital, the royalty converts to a 40% working interest for Acceleware.
• Future Drilling Options: Potential to drill additional well pairs on the same property under the same terms.
• Technology Demonstration: RF XL 2.0 aims to increase production, lower operating costs, and reduce energy consumption in heavy‑oil reservoirs with high viscosity that are not economical for SAGD or other thermal methods.
• Regulatory Incentive: Deployment expected to qualify for the Saskatchewan Petroleum Innovation Incentive transferable royalty credit (conditionally approved).
• Strategic Fit: Part of Acceleware’s broader plan to build a portfolio of heavy‑oil production rights and accelerate commercialization of its RF XL 2.0 technology across western Canada.

Notable Quotes

“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,” – Geoff Clark, Chief Executive Officer.