Acceleware Expands Saskatchewan Mannville Strategy with Second Farm-In Agreement

Calgary, Alberta, April 29, 2026 — Acceleware Ltd. has entered into a second farm-in agreement in Saskatchewan, strengthening its position in the Mannville Stack and advancing its plan to build a wider portfolio of heavy oil production opportunities.

The agreement covers one section of land, with an option to add another half-section. The target area is located in Saskatchewan’s Mannville Stack, a heavy oil region that Acceleware views as suitable for its RF XL 2.0 technology. The company said the deal supports its broader strategy of securing field-ready assets where its radio frequency heating system may be deployed.

New Farm-In Agreement Adds to Acceleware’s Heavy Oil Portfolio

Through this second agreement, Acceleware now has access to a total of two and one-half sections of Lloydminster-area Mannville Stack lands, including option lands, through farm-in arrangements. This gives the company a larger platform to test, develop, and potentially commercialize RF XL 2.0 in western Canadian heavy oil reservoirs.

Under the terms of the agreement, Acceleware may drill an RF XL 2.0 horizontal well pair. In exchange, the farmors will receive a gross overriding royalty. After Acceleware recovers its invested capital, the farmors may choose to convert that royalty into a 40% working interest.

Why the Mannville Stack Matters

The Mannville Stack is important because it contains heavy oil resources that may not be large enough for traditional thermal development methods such as SAGD. Acceleware believes these types of reservoirs could be a good fit for RF XL 2.0 because the technology is designed to improve production while lowering energy use and operating costs.

The company noted that the reservoir conditions, including viscosity and thickness, are considered favorable. However, the property may not support economic development through conventional thermal methods. This creates an opportunity for Acceleware to show how its electromagnetic heating technology could unlock value from smaller or more challenging heavy oil assets.

RF XL 2.0 Could Support Lower-Cost Heavy Oil Production

RF XL 2.0 is Acceleware’s radio frequency heating technology for enhanced oil recovery. Instead of relying on large amounts of steam, the system uses electromagnetic energy to heat underground formations. The company says this approach may help increase heavy oil production, reduce energy consumption, cut operating expenses, and improve project economics.

Acceleware is already advancing an RF XL 2.0 pilot at its earlier Mannville farm-in project in Saskatchewan. The company has started the application process with the Saskatchewan Ministry of Energy and Resources and is working on surface lease design and well planning.

CEO Highlights Field-Ready Growth Strategy

Geoff Clark, Acceleware’s Chief Executive Officer, said the new agreement builds on the company’s earlier Mannville-focused farm-in and shows continued progress in building field-ready opportunities. He also said the company is pursuing additional agreements that could help demonstrate RF XL 2.0 while creating potential near-term revenue and cash flow from heavy oil production.

Broader Business Context

Acceleware is an advanced electromagnetic heating technology company. Its main focus is proprietary radio frequency power-to-heat solutions for large-scale industrial heating. The company’s core innovation is the Clean Tech Inverter, known as CTI, which has already been field-tested through an initial commercial-scale RF XL pilot.

Beyond heavy oil, Acceleware is also applying its CTI knowledge in other industries. The company has mining-related projects underway with major operators and is also working on an amine regeneration project aimed at reducing energy use and costs.

Regulatory and Development Risks Remain

While the agreement marks another step forward, the company’s plans still depend on several factors. These include regulatory approvals, access to capital, service availability, reservoir performance, commodity prices, and the successful execution of the farm-in agreements.

Acceleware also cautioned that forward-looking statements are not guarantees of future results. Actual outcomes may differ due to technical, financial, regulatory, market, or operational risks.

Conclusion

Acceleware’s second Saskatchewan Mannville farm-in agreement gives the company another opportunity to advance RF XL 2.0 in a heavy oil region it considers strategically important. By expanding its land position and preparing for potential horizontal well development, Acceleware is positioning itself to demonstrate a lower-energy approach to heavy oil recovery.

If successful, the project could support the company’s goal of building a portfolio of production rights while proving the commercial potential of its radio frequency heating technology in western Canada.

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