AccelewareThe Company has finished its drilling and completions program for the commercial-scale RF XL pilot project at Marwayne, Alberta. And we can see that the news about was published on December 14th. But the price started moving upwards beginning of December and sky rocketed on December 9th and 10th. I sold my position beforehand in October, thinking to invest it elsewhere in the meantime. My thoughts were that end of December and beginning January 2022 a position in AXE.VN should be regained since the project seemed to move smoothly forward. I was caught a little bit off guard but I still jumped in as soon as I saw the spike climbing, at 0.52 CAD. Price today, 1/10/22 is 70 cents.
The drilling and completions program of the Pilot involved the successful completion of the producer well and the deployment of two RF XL transmission lines into the heating well horizontals. The Pilot producer well was spudded on August 12, 2021 using Akita Drilling Ltd.’s (“Akita”) Rig 29. The majority of the drilling program, including the 800m producer lateral, was successfully wrapped up on Sept 2, 2021. The subsurface execution resumed on Nov 6, 2021, using Akita’s Rig 34, to drill the remaining two heating lateral sections and install the proprietary RF XL transmission lines. Halliburton provided directional services throughout the drilling program. Completion of the producer well was accomplished with Precision Drilling Rig 596, and included installation of a progressive cavity pump and temperature and pressure monitoring equipment.
Why did I buy into this company besides the uncertainty in the Stock market?
It is a revolutionary technology. It is a project that when proven correct will revolutionize heavy oil and bitumen extraction in Alberta and around the world. Oil goes green!!
No more steam generation as in traditionally SAGD operation
No more water use since the heat is generated with Radio Frequencies under ground.
No more tailing ponds where the waste water has to evaporate and residue remains
No more chemical treatment for the extraction of the bitumen.
Extraction costs will be lowered by roughly 50%, from $20 to 9$ per barrel.
AND, this project is supported by three big oil companies and the Alberta government.
It is independent form the stock markets ups and downs.
What to expect next?
In Marwayne the "Facilities installation has commenced, and will involve installation of power lines, move in of the electrical house, and production piping.
RF XL heating will start shortly after installation of the remaining electrical and monitoring equipment in the heating well, and final commissioning. While the initial heating phase is planned for approximately six months, this period may be extended to allow Acceleware to capture additional information on the efficiency and operation of the technology."
I expect an price increase at the end of January, early February 2022, when the news will break that heating has started. But as we saw in the latest price move the news will be available to the operators first befor a press release will be published. Thus said, we might see a price move without an accompanying news update. The news might break later AFTER the price move.
Be prepared guys.
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