22 Oct 2008 07:00
ViaLogy Plc ("ViaLogy" or "the Company")
Start of Oil Exploration Drilling in Texas
London, October 16, 2008 - ViaLogy PLC (LSE:VIY), the AiM-listed technology company, announces that Atascosa Exploration LLC (Atascosa), of San Antonio, Texas, has begun drilling the first of six wells planned on the Charley & Nancy Hundley High Lonesome Ranch in McMullen County, Texas. The location and boundaries of the prospective oil reservoir, including prediction of its size, porosity and volume were determined by the use of ViaLogy's QuantumRD™ technology. The rock fault is believed to contain a significant oil reservoir.
The initial well is to be drilled to a total depth of 6,000 feet and total depth is predicted to be reached within the next week.
For Further Information please contact:
ViaLogy
Robert W Dean, President & CEO - US +1 626-296-6337 (mobile: +1 703-589-3807)
Terry Bond, Chairman - UK & Europe +44 (0) 1235-834734
Atascosa Exploration LLC
John D. Mullins, CEO - US +1 210 402 3656
Nominated Advisor (Seymour Pierce)
Mark Percy +44 (0) 20-7107-8000
PR Consultants - Redleaf Communications
Emma Kane / Samantha Robbins +44 (0) 20-7822-0200
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, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied.