2 May 2012 12:24
ViaLogy PLC
Contract award
Pasadena, CA, United States, May 2, 2012. ViaLogy PLC (LSE/AIM: VIY) is pleased to announce that it has been awarded a contract with a major oil and gas company to deploy its patented QuantumRD processing technology. At the client's request and for commercial reasons their identity, the location of the prospect and further details of the contract must at this stage remain confidential.
For further information contact:
ViaLogy PLC
Terry Bond, Chairman - UK & Europe +44 (0) 1235-834734
Nominated Advisor and Broker to ViaLogy PLC (Seymour Pierce)
Mark Percy/Catherine Leftley, Corporate Finance +44 (0) 20-7107-8000
Katie Ratner, Corporate Broking +44 (0) 20-7107-8000
About ViaLogy PLC:
ViaLogy provides reservoir characterization, geophysical imaging and hydrocarbon sizing services to global oil and gas customers based on proprietary, patented active signal processing technology. ViaLogy's QuantumRD platform assists clients in de-risking prospects over a broad range of subsurface lithologies and complex stratigraphies to generate drilling targets, position offsets and enhance recovery. ViaLogy's core technology rapidly and accurately detects weak signals buried in high noise background and clutter, and is applicable to active/passive seismic, electromagnetic and magneto telluric data. By exploiting normally disregarded noise variations induced by changes in porosity, fluid presence and permeability across the formation, and adding computer-designed noise to the data, ViaLogy is able to amplify subtle noise variations to enhance areal and depth resolution in complex lithologies that are not achievable through conventional means. For more information on ViaLogy, visit www.vialogy.com.