Vialogy (AIM: VIY, VIY message board), an innovator of network-centric, real-time signal processing platforms for sensor applications, enjoyed a surge, following a press-release indicating positive developments in Texas."We are very encouraged by ViaLogy's report, although final confirmation must await the results of drilling," said Atascosa Exploration 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 statement was made in connection with an apparently successful attempt by ViaLogy to utilize its QuantumRD™ technology for geoseismic applications, in determining the location and characteristics of underground oil deposits. Atascosa estimates that if VioLogy's efforts are correct, it could save Atascosa close to $500,000 in drilling costs, by relocating the site to commence drilling as indicated by VioLogy's technology.
Vialogy forecasts that this could bring up to $8 million for Vialogy over the upcoming years.
On Monday, the company's shares finished at 6.33 pence barrier which was an increase of 33% since previous closing. These recent developments will surely make an impact to the company's overall performance and its share price. More good news might be on the way, prompting Vialogy as a worthwhile investment.
Reference:
Press Release
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