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ViaLogy Shows Early Success in Oil Reservoir Analysis

2008-07-21 02:20:00

ViaLogy Shows Early Success in Oil Reservoir Analysis

    PASADENA, California, July 21 /EMWNews/ -- ViaLogy LLC,

announces completion of the initial phase of its pilot project with

Atascosa Exploration LLC ("Atascosa") to apply its QuantumRD(TM) technology

for geoseismic applications to determine the location and characteristics

of underground oil deposits.

    With reference to a prospective Texas drilling site, the QuantumRD

analysis confirmed the location of an oil trap, and mapped its size, shape,

and predicted porosity. Atascosa estimates that this finding will save them

over $500,000 by relocating the drill site to an optimal location some 700

feet from the site originally planned. In addition, ViaLogy's analysis

discovered a second, deeper gas and oil trap of at least equal size. Work

to drill both wells will begin in the coming weeks.

    "We are very encouraged by ViaLogy's report, although final

confirmation must await the results of drilling," said Atascosa CEO, John

D. Mullins. "Our production engineering and geophysicist team is

particularly impressed by the analysis tools Vialogy brings to bear in its

novel approach to accurately characterizing reservoir prospects using

existing datasets. We will look to grow our strategic collaboration with

ViaLogy in analytical facets of reservoir modeling, water injection

planning and enhanced recovery."

    "The discovery of the new reservoir is remarkable, and could prove a

significant find."

    Atascosa confirmed that as payment for its QuantumRD work Vialogy is to

receive a no-cost 5% working interest (WI), subject to existing agreements,

royalty interest (RI), and overriding royalty interests (ORRI) in the wells

drilled for each sand after payout of lease costs, geology, engineering,

drilling, and other operational expenses. At each well payout, Atascosa

will execute and deliver assignments to Vialogy sufficient to vest Vialogy

with ownership of its 5% WI in the initial well in each sand and its right

to participate in additional wells on the same basis as the other owners

and as covered by the Operating Agreement.

    The company estimates that this could produce approximately $8 million

for Vialogy over the life of the wells. ViaLogy President and CEO Robert W.

Dean stated; "We are very pleased to partner with Atascosa to commercialize

our technology in the energy market. Atascosa's domain expertise will help

us reach a broader problem and customer set. Geoseismology is an excellent

vertical for us, as we will be able to realize a higher margin and

performance premium for our disruptive technology. We are working with the

Atascosa team to identify additional growth areas that we can address in

the near-term."

    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

    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.

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 +44-1235-834734 Atascosa Exploration LLC John D. Mullins, CEO +1-210-402-3656 Nominated Advisor - Seymour Pierce Mark Percy +44-207-107-8000 PR Consultants - Redleaf Communications Emma Kane / Samantha Robbins +44-207-822-0200

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