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Acceleware Announces Significant Sale of Reverse Time Migration Software to Colombia's Ecopetrol

CALGARY, ALBERTA -- (Marketwired) -- 01/16/14 -- Acceleware Ltd. (TSX VENTURE:AXE) today announced that Ecopetrol S.A., Columbia's largest integrated oil and gas company, has selected Tsunami Development's seismic imaging suite for the exploration of hydrocarbon reserves. The suite features AxRTM(TM), Acceleware's high performance reverse time migration (RTM) library.

"Ecopetrol's exploration plans are ambitious and include many complex and unique geological structures," said Bill Kamps, President of Tsunami Development. "RTM has been proven to be the best solution for dealing with geological complexity, and Ecopetrol's geophysicists have deemed it an essential tool for carrying out their exploration plans."

Tsunami Development's imaging suite will provide Ecopetrol with the tools required to develop a sophisticated internal seismic imaging team, allowing the company to better manage and enhance the results they receive from seismic contractors. Ecopetrol will be using the GPU accelerated version of AxRTM, enabling larger and more complex datasets to be processed faster.

Ranked in the world's top 50 oil companies, Ecopetrol is currently carrying out exploration in 32 blocks within Columbia and a further 15 blocks located offshore in the Colombian Caribbean and Gulf of Mexico.

"Ecopetrol is Colombia's primary petroleum company, with almost two thirds of the country's production. Their selection of AxRTM to deal with their unique geology is quite an endorsement." said Geoff Clark, Chief Executive Officer of Acceleware Ltd.

About AxRTM

Acceleware's AxRTM is the most efficient finite-difference reverse time migration software in the seismic market. It is a pre-stack two-way wave equation migration library with isotropic, VTI and TTI capabilities that uniquely supports NVIDIA Tesla GPUs, Intel Xeon Phi coprocessors and multi-core CPU clusters. AxRTM provides seismic data processors with an economically viable reverse time migration solution. Advanced geophysical imaging features including dual TTI formulations for stability and speed, high quality imaging conditions, obliquity correction and innovative noise removal produce high quality images of exceptional detail. AxRTM is available from Acceleware, and in integrated seismic processing platforms from Paradigm and Tsunami Development.

About Acceleware

Acceleware (www.acceleware.com) develops high performance seismic imaging and modeling software products and provides innovative technology for radio frequency (RF) heating, an emerging thermal enhanced oil recovery method. As experts in programming for multi-core CPUs and massively parallel GPUs, Acceleware's professional services team specializes in accelerating computationally intense applications for clients to speed up product design, analyze data and help make better business decisions. Acceleware's products and services are used by some of the world's largest energy and engineering companies.

Acceleware is a public company on Canada's TSX Venture Exchange under the trading symbol AXE.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Acceleware Ltd.
Pam McMinn
+1 (403) 249-9099, ext 287
[email protected]
www.acceleware.com

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