Acceleware Ltd.

TSX VENTURE : AXE


Acceleware Ltd.

February 12, 2014 18:33 ET

Acceleware Announces Partnership with Open Geophysical and Dolphin Geophysical

HOUSTON, TEXAS--(Marketwired - Feb. 12, 2014) - Acceleware Ltd. (TSX VENTURE:AXE) today announced that Open Geophysical, Inc., a Houston based seismic processing software company, and Acceleware have signed a reseller agreement (the "Agreement") which allows Open Geophysical to integrate AxRTM™, Acceleware's reverse time migration library, into its OpenCPS land and marine seismic processing software.

"We are excited to offer our customers the industry's leading reverse time migration solution," said Roland Gunther, Vice President of Open Geophysical. "The AxRTM library offers unrivaled speed and flexibility with its capability to run on multi-core CPUs, compute GPUs and Xeon Phi coprocessors."

Acceleware and Open Geophysical are pleased to announce that Open Geophysical's parent company, Dolphin Geophysical ASA, will be the initial customer under the Agreement.

"Dolphin Geophysical is committed to building a state of the art depth imaging capability to complement our existing processing and time imaging services. Reverse time migration will be a key component of that capability, and AxRTM will enable us to accurately image areas of complex geology in a fast and efficient manner," said Rich Bartlett, Depth Imaging Manager at Dolphin Geophysical.

"We are pleased to partner with Open Geophysical and Dolphin Geophysical. Their high-end seismic software and world class processing services are an ideal fit for the AxRTM library," said Geoff Clark, Chief Executive Officer of Acceleware Ltd. "We look forward to working together to help them meet the growing demand for advanced depth imaging software and services."

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.

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.

About Open Geophysical

Open Geophysical, Inc. develops OpenCPS, the land and marine seismic processing software designed and developed in the 21st century to solve QC, time and depth processing challenges. Open Geophysical is a wholly owned subsidiary of Dolphin Geophysical AS.

About Dolphin Geophysical

Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services. Dolphin operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys, Multi-Client projects and processing services on a worldwide basis. Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).

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.

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