18 Jan 2012 07:00
ViaLogy PLC ("ViaLogy" or "the Company")
Placing and TVR
London, January 18, 2012. ViaLogy PLC (AIM: VIY), a provider of reservoir characterization, geophysical imaging and hydrocarbon sizing services to global oil and gas Exploration and Production companies based on proprietary, patented active signal processing technology, is pleased to announce it has raised £1,050,000 through the placing of 100,000,000 ordinary shares ("the Placing Shares") at a price of 1.05p each ("the Placing") with existing and new investors.
The net proceeds of the Placing will be used for working capital purposes.
Application has been made for the 100,000,000 Placing Shares to be admitted to trading on AIM and dealings are expected to commence on 23 January 2012. Following the Placing, the total number of ordinary shares in issue and therefore the total number of voting rights is 851,955,130.
For further information:
ViaLogy PLC
Terry Bond, Chairman - UK & Europe +44 (0) 1235 834 734
Nominated Advisor to ViaLogy PLC (Seymour Pierce)
Mark Percy / Catherine Leftley (Corporate Finance )
Katie Ratner/David Banks (Corporate Broking) +44 (0) 207 107 8000
About ViaLogy:
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