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6 May 2009 16:04
VIALOGY PLC ("VIALOGY" OR "THE COMPANY")
VIALOGY SEEKS NEW PARTNER TO COMMERCIALIZE BURIED PIPELINE IMAGING
London, May 6, 2009. ViaLogy (LSE:VIY) ViaLogy PLC today confirmed that it is actively seeking a new partner for the final proof-of-concept stage of QSUB™, the technology application it is developing for detecting underground oil and gas pipelines, utilities and other significant buried objects. Using patented Quantum Resonance Interferometry (QRI™) software, QSUB interprets multiple synthetic aperture radar (SAR) sets obtained by aerial survey.
In proof-of-concept tests carried out in Oregon, United States of America, ViaLogy was able to exploit ground disturbances to infer a buried pipeline. Subsequent digging revealed a six inch asbestos pipe buried 6 to 12 feet below the ground. Based on archival search reports, the pipe was buried over four decades ago. This test also provided ViaLogy with new opportunities for imaging and geolocation of buried utilities and pipelines via detection of ground disturbance, that are typically outside the scope of conventional SAR processing. In addition, confirmatory tests showed that ViaLogy detected over 150 'hidden' metal objects and wires at various depths.
"The need for a new strategic partner has occurred because our initial associate, Advanced Spatial Technologies Field Services (ASTFS), has ceased operating," said Terry Bond, chairman of ViaLogy. "This is unfortunate because the complete success of our initial tests is most encouraging and the addressable market for such a product remains significant."
"Now we need to conduct additional flights over varying terrain using the very latest aerial radar to collect sophisticated data. We will then be able to refine QSUB™ to provide a much-needed operational service to the oil and gas industry. This final step requires adequate development funding, hence the need for a new partner. This process is underway."
Commenting on ViaLogy's other involvement in the energy sector, QuantumRD™ which interprets seismic data for the location and analysis of oil well sites, Mr Bond said: "I have just returned from Texas where our technology has enabled our partners there, Atascosa Exploration LLC, to drill two successful wells on the Galba Fuqua Prospect, near San Antonio."
"We have now contracted to analyse seismic data for a third, larger well for Atascosa and had detailed discussions about further projects. We have also received several enquiries from other exploration companies in the US and Europe."
For further information please contact:
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)
Atascosa Exploration LLC
John D. Mullins, CEO (+1 210-402-3656)
Nominated Advisor to ViaLogy PLC (Seymour Pierce)
Mark Percy +44 (0) 20-7107-8000
Brokers to ViaLogy PLC (St. Helen's Capital)
Ruari McGirr / Sebastian Wykeham +44 (0) 207 628 5582
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.
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