10 Feb 2010 07:00
VIALOGY PLC ("VIALOGY")
NEW PERMIAN BASIN WOLFCAMP WELL
London, February 10. ViaLogy plc (LSE: VIY)announces another successful well completion, this one in the Permian Basin in Central Texas under contract to Vecta Oil & Gas of Dallas, Texas. Drilled to a total depth of 8,175 feet, log analysis shows net pay from multiple zones, including stratigraphic Wolfcamp carbonates and the deeper Cisco sandstone.
This marks ViaLogy's first product for Vecta in a project that will both stress and refine ViaLogy's QuantumRD® technology in difficult hydrocarbon zones in their Permian prospect. ViaLogy delivered analysis that chose the position of the well to penetrate two pay zones; the Wolfcamp carbonate formation at 5,800 feet and the Cisco Canyon sandstone formation at 7,780 feet. The firm's QuantumRD active signal processing technology is able to exploit all seismic frequencies, and to extract significantly more information from seismic data than other analytical methods. This information is used in conjunction with related well logs, coring data, and production histories in an end-to-end analysis methodology to estimate sub-surface characteristics. In the Vecta prospect, ViaLogy accurately positioned the well, predicted multiple high impedance geobody (HIG) pay zones, and their porosity - all subsequently verified by actual well logs.
ViaLogy CEO Robert Dean said, "We are pleased with our continued positive track record of successful wells. Keep in mind that each of our applications of QuantumRD thus far, including this continuing work for Vecta, has been against a very difficult reservoir characterization problem. I believe this will extend the reach of our technology and further validate it. The Vecta team has proven to be great partners, and we look forward to bringing them more successes."
ViaLogy plc
Robert W Dean, President & CEO - US +1 626-296-6337 (mobile: +1 703-589-3807)
Terry Bond, Chairman - UK & Europe +44 (0) 1235-834734 (mobile: 07860 842756)
Nominated Advisor to ViaLogy PLC (Seymour Pierce)
Mark Percy / Catherine Leftley +44 (0) 20-7107-8000
About ViaLogy: Network Centric Signal Processing
ViaLogy is a leading innovator of network-centric, real-time signal processing platforms for sensor applications. ViaLogy is currently deploying and designing computational systems, powered by its patented technologies, for applications in life sciences, public safety and security, surveillance, defense and geoseismology. ViaLogy focuses on market driven problems where automation, timeliness, quality and reliability of information processing are essential. ViaLogy's core competency incorporates rapidly and accurately detecting weak signals buried in high noise background and clutter. This technology can be employed to solve problems involving sensor integration and information overload challenges involving video, telephony and control sensors, as well as for enhancement of numerous signal processing applications. For more information, visit our website at www.ViaLogy.com.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results.