Acceleware Announces Agreement for Asset Transfer and New Farmout Opportunity with O'Neill Industries International-Canada Inc.
CALGARY, Alberta, June 26, 2025 (GLOBE NEWSWIRE) — Acceleware® Ltd. ('Acceleware' or the 'Company') (TSX-V: AXE), is pleased to announce it has entered into an agreement (the 'Marwayne Agreement') with O'Neill Industries International-Canada Inc. ('O'Neill Canada') that will result in the transfer of certain wells and other assets located in Marwayne, Alberta, related liabilities, licenses and leases from Acceleware to O'Neill Canada, and the termination of the existing farmout and option agreement dated May 19, 2020 between the Company and O'Neill Canada. O'Neill Canada is the Canadian entity of O'Neill Industries, a US based company active in upstream production and oil field services globally. In exchange for the above noted transfers, Acceleware will receive cash payments and a gross overriding royalty ('GORR') on future production from the wells as described below. The Marwayne Agreement sets the stage for renewed collaboration between the Company and O'Neill Canada that includes a commitment to establish a new farmout agreement at Marwayne where Acceleware can drill new RF XL 2.0 compliant test wells in the next five years.
'The Marwayne Agreement is another strategic step intended to rapidly move us from a research and development focus to becoming a cash flow generating enterprise and is one of several strategic steps we are taking to accelerate RF XL 2.0's path to market,' said Geoff Clark, CEO of Acceleware. 'We are pleased to realize near-term cash flow and added value from O'Neill Canada's operations at Marwayne, but also having the optionality to explore future multi-well deployments of RF XL 2.0 at Marwayne provides great opportunity to the Company.'
Specific features of the Marwayne Agreement include: Acceleware will transfer its interests in the existing wells, production equipment, leases, and licenses to O'Neill Canada for a combination of cash, assumption by O'Neill Canada of any abandonment and reclamation liabilities associated with the wells and surface lease, and a 5% GORR on future production from the wells for a period of 12 months following commencement of production from the transferred wells. Excluding future royalties, the net balance sheet benefit to Acceleware is estimated to be $460,000. Acceleware retains ownership of all RF XL heating and related equipment at Marwayne, including the Clean Tech Inverter (CTI). The existing farmout agreement between O'Neill Canada and Acceleware is terminated. Acceleware and O'Neill Canada agree to enter into a new farmout agreement within 90 days of entering into the Marwayne Agreement, which will allow Acceleware to redeploy new wells that are suited for RF XL 2.0 at any time over the course of the next 5 years at O'Neill Canada's Marwayne asset.
'We're pleased to have come to this agreement with Acceleware on Marwayne – the asset holds very good value potential and both companies stand to benefit from the arrangement. For over a year, O'Neill Canada has been producing heavy oil at Marwayne, and we plan to grow production volumes through both cold flow and thermal recovery techniques,' said Alexander O'Neill, President of O'Neill Canada.
About Acceleware:
Acceleware is an advanced electromagnetic (EM) heating company with cutting-edge radio frequency (RF) power-to-heat solutions for large industrial applications. The Company's technologies provide an opportunity to electrify and decarbonize industrial process heat applications while reducing costs.
The Company is working to use its patented and field proven Clean Tech Inverter (CTI) to materially improve the efficiency of amine regeneration, and has partnered with a consortium of world-class potash partners seeking to decarbonize drying of potash ore and other critical minerals. Acceleware is actively developing other process heat applications and partnerships for RF heating.
Acceleware's RF XL is a patented low-cost, low-carbon RF thermal enhanced oil production technology for heavy oil that is materially different from any enhanced recovery technique used today.
Acceleware is a public company listed on the TSX Venture Exchange ('TSXV') under the trading symbol 'AXE'.
About O'Neill Industries International-Canada Inc.:
O'Neill Industries is comprised of an integrated family of companies focused on the energy and environmental sectors, offering a series of products, equipment, and services which bring new and enhanced solutions for projects and partners. Responding to environmental challenges, developing natural resources, and looking for opportunities to turn waste and obsolescence into energy and value.
Since 2023, O'Neill Industries Canadian arm, O'Neill Industries International-Canada Inc., has been operating in Alberta with a large focus on heavy oil production, thermal recovery techniques, and Green Cement.
Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable securities laws. When used in this release, such words as 'will', 'anticipates', 'believes', 'intends', 'expects' and similar expressions, as they relate to Acceleware, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of Acceleware with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause Acceleware's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects Acceleware's current expectations regarding future events, including, but not limited to: the future benefits arising from the Marwayne Agreement; the Company's ability to successfully complete commercialization of RF XL 2.0; the entering into of a new farmout and option agreement between the Company and O'Neill Canada; deployment of RF XL 2.0 ; the initiatives to be implemented by the Company's management to shift the Company's focus from research and development to cash flow generation; the timing to complete certain milestones in the Marwayne Agreement; and the impact of the Marwayne Agreement on Acceleware's business and shareholder value.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the availability of potential heavy oil production rights in western Canada, the availability of investment capital and other funding, the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; receipt of necessary approvals; availability of financing for technology and project development; uncertainties and risks with respect to developing and adopting new technologies; general business, economic, competitive, political and social uncertainties; change in demand for technologies to be offered by the Company; obtaining required approvals of regulatory authorities and/or shareholders, as applicable; ability to access sufficient capital from internal and external sources. For a more fulsome list of risk factors please see the Company's December 31, 2024, year-end Management Discussion and Analysis ('MD&A') available on SEDAR+ at www.sedarplus.ca .
Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release to provide shareholders with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
For more information:
Geoff ClarkTel: +1 (403) 249-9099
[email protected]
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
36 minutes ago
- Business Insider
TD Cowen Sticks to Their Hold Rating for Merck & Company (MRK)
TD Cowen analyst Steve Scala maintained a Hold rating on Merck & Company (MRK – Research Report) yesterday. The company's shares closed yesterday at $78.83. Confident Investing Starts Here: According to TipRanks, Scala is a 4-star analyst with an average return of 6.2% and a 56.45% success rate. Scala covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Sanofi, and Elanco Animal Health. In addition to TD Cowen, Merck & Company also received a Hold from Citi's Geoff Meacham in a report issued on June 24. However, on June 18, Goldman Sachs maintained a Sell rating on Merck & Company (NYSE: MRK). The company has a one-year high of $132.29 and a one-year low of $73.31. Currently, Merck & Company has an average volume of 15.89M. Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRK in relation to earlier this year. Most recently, in April 2025, Dalton Smart, the SVP Fin. – Global Controller of MRK sold 4,262.00 shares for a total of $352,723.12.
Yahoo
37 minutes ago
- Yahoo
Prediction: This Artificial Intelligence (AI) Stock Will Outperform the Market for the Next Decade
The S&P 500's strong performance over the past few years may dampen the market's returns over the coming decade. Continued AI expenditures bode well for Nvidia's growth. Nvidia's reasonable valuation makes it a strong candidate to continue outperforming the broader market. 10 stocks we like better than Nvidia › The start of the artificial intelligence (AI) boom lifted the broader stock market out of a slump in late 2022. It's been a mostly fun ride since then, and the reality is that AI is only getting started. Experts widely believe that AI technology will create trillions of dollars in economic value over the coming decades and make new industries possible, and that likely means wealth for those who own the right stocks. Thus far, Nvidia (NASDAQ: NVDA) has been a humongous AI winner. The stock has returned an eye-popping 956% since the start of 2023. But why stop there? I predict that Nvidia will continue to outperform the broader market (S&P 500 index) over the next decade, and it's for some straightforward reasons why. While I don't think Nvidia's stock will rise another 956% over less than three years, outperforming the market boils down to what Nvidia is likely to do versus the S&P 500. Some historical data can help paint a picture of how the popular U.S. market index might perform over the next decade. The AI-driven rally over the past few years has baked some future growth into the broader stock market, as evidenced by an increasingly higher valuation. The S&P 500 currently trades at a forward price-to-earnings (P/E) ratio of just under 22. Earlier this year, Charles Schwab, using data from Bloomberg, published a report that plotted the S&P 500's 10-year performance from various starting valuations throughout history. Generally speaking, the higher the S&P 500's initial valuation, the worse the market tends to perform over the subsequent decade, and vice versa. That shouldn't be a shock; overpaying for stocks often has that effect. Many decades that began with the S&P 500 at similar valuations to its current level have produced little to no returns, and in some cases, even negative returns. That doesn't guarantee the market will do poorly over the next 10 years. For example, AI could drive higher earnings growth over the next decade. Still, at the very least, history suggests the market's expensive valuation could weigh on returns over the coming years. Now that you know what Nvidia is up against, it's time to see why the company could continue to thrive. Simply put, a generational investment cycle is underway in AI today. Companies are investing billions of dollars in data centers and other areas to develop and train more advanced AI models and utilize them on a worldwide scale. According to McKinsey & Company, data center expenditures alone could top $7 trillion by 2030. Nvidia has come to dominate the market for AI chips used in data centers, with an estimated 92% market share. Even if competitors chip away at that high market share over time, it's difficult to envision Nvidia falling off the map at this point. The company's hardware and CUDA programming platform have proven a formidable competitive moat. In the future, Nvidia will have the opportunity to participate in emerging industries that AI makes feasible, including humanoid robotics, a potentially massive opportunity that CEO Jensen Huang is already well aware of. Often, when a stock's value increases rapidly, it inflates its valuation and diminishes its future potential. That could be a concern with a stock like Palantir Technologies. But Nvidia is a rare exception. The company's revenue and earnings have mostly kept up with the stock price: Analysts estimate Nvidia will grow earnings by an average of nearly 29% annually over the long term, which is plenty of growth to justify the stock's current P/E ratio of 47. In other words, Nvidia's valuation leaves ample room for business growth to translate to investment returns. Unless Nvidia's business implodes and falls well short of expectations, there's a good chance that Nvidia produces double-digit annualized returns over the next decade, even if growth falls a little short of current long-term estimates. When you compare that to an expensive S&P 500-themed ETF and what historical data says about similar instances (lower future returns), it becomes clear that Nvidia can continue to outperform the broader market. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $687,731!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $945,846!* Now, it's worth noting Stock Advisor's total average return is 818% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Charles Schwab is an advertising partner of Motley Fool Money. Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia and Palantir Technologies. The Motley Fool recommends Charles Schwab and recommends the following options: short June 2025 $85 calls on Charles Schwab. The Motley Fool has a disclosure policy. Prediction: This Artificial Intelligence (AI) Stock Will Outperform the Market for the Next Decade was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
The open road ahead for investors: Morning Brief
SPACS are back. Bitcoin's riding high. Nvidia's (NVDA) market cap is $3.8 trillion. Imminent or at least soonish rate cuts are back on the table. And the S&P 500 (^GSPC) is flirting with a new closing record amid tech optimism. Stripped of context and isolated from worrisome headlines, you'd think the market was operating in a different time period. But here we are. The news environment and political moment matter, of course, as this latest bout of unleashed animal spirits is a reaction to shrinking negative catalysts and the dissolving of some of the most troublesome uncertainties. The current pivot back to 2024 market narratives has been a sharp one, and the week's Fed drama was bolstered by a pair of readings Thursday: A weaker first quarter GDP estimate than was previously reported and fresh labor data bolstered the case that it's getting tougher for people out of a job to find work. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy The updates appeared to convince more investors that the Fed will speed up rate-cutting plans to address deteriorating economic conditions. Market bets are welcoming the "bad news" with open arms because it means there's a chance the first rate cut could arrive as soon as July, and if not, almost certainly by September, and because that "bad news" comes as the unemployment rate is still — as Powell is wont to remind the public — at a historically low 4.2%. The dovish turn coincides with a sentiment shift that the tariff impact will be more muted than originally thought. And market optimism has been jolted as Wall Street interprets the hostilities between the US and Iran as on a path to deescalation. "The stock market is back at record highs as various uncertainties start to fade," said Paul Stanley, chief investment officer at Granite Bay Wealth Management, in a note Thursday. "The market is betting on continued progress on trade and a de-escalation of tensions in the Middle East is giving investors confidence." But as Stanley and others point out, even as the market reaches for new highs, it's unclear what the next major catalyst could be with last quarter's major obstacles out of the way. If so much of the positive momentum flowed from the collapse of worst-case scenarios, focus now goes to the positive ones. And there certainly are plenty to count. Fed cut speculation could turn into an actual Fed cut — or Fed cuts. The Magnificent Seven could get their mojo back and turn around a rough year. More trade deals could emerge instead of trade war pauses. That's one way to look at it. But things can obviously keep trucking along even when the drama dies down. Conditions have been so volatile that it's easy to forget earnings growth and the AI story were more than enough to power the market for a good while. When volatility drops, the market's rise almost seems gravitational. With a clearer playing field, what's to stop that from happening again? Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on X @hshaban. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
