PASADENA, California, September 29 /PRNewswire/ --

- Buckingham Group and ViaLogy Finalize Three Reservoir Prospects

- Additional Customer Contracts Signed

- Major DOD Contract Win with Partner SAIC

ViaLogy PLC (LSE: VIY) announces that it has finalized Project Agreements 
for three onshore oil prospects under a multi-site services contract with 
The Buckingham Group of San Angelo, Texas. The contract covers the use of 
ViaLogy's QuantumRD(TM) patented technology, QuantumRD(TM), the oil reservoir 
discovery product that interprets seismic data and can more accurately locate 
and define the capacity of oil and gas deposits to maximize economic 
extraction.

The three prospect sites could result in 8-10 ViaLogy-positioned
development wells. Buckingham's goal is to expand production by accurately
locating wells in two working fields in Central Texas, specifically the
Rocking Chair Ranch prospect in Schleicher County, and, the Russell Ranch
North East prospect in Menard County. Both projects will target fractured
Camar sandstone formations in the 3000-5000 feet range, obscured by shallow
thrust zones. The third prospect at Toe Nail North Ranch in Tom Green County
will be an exploration well in an undeveloped field. This stratigraphic
prospect is targeting compressed Cambrian sandstone and Strawn limestone with
depths ranging from 5000-8000 feet. These projects provide ViaLogy with
opportunities to demonstrate QuantumRD's value proposition in complex
subsurface lithologies.

ViaLogy will be designing and managing high resolution seismic
acquisition, performing QuantumRD end-to-end analysis for subsurface
characterization, and positioning drill sites on the prospects. ViaLogy will
receive a services fee, as well as a percentage working interest upon
successful well completions. Buckingham drilled a total of 49 wells in 2008.

Buckingham CEO Darryl Buckingham stated, "We want to extensively leverage
the ViaLogy technology for our entire exploration, development and production
programs moving forward. We have significant lease positions at these ranches
and could see major recovery based on analogs in the area. Our geology and
engineering team is looking forward to working closely with ViaLogy to
develop these leases."

ViaLogy CEO Robert W. Dean said, "These three prospects, which are in
various formations and at differing depths, will test the versatility of
QuantumRD. Success will extend our value-proposition for US independents." He
added: "Buckingham has been using surface geochemistry for several years in
their exploration program. A large percentage of independents exploit
geochemistry for early reconnaissance and developmental stages of
exploration. This collaboration gives us an excellent opportunity to deploy
QuantumRD for fusion of high-resolution seismic with geochemistry data to
further improve reservoir characterization and reduce misinterpretation of
hydrocarbon microseep anomalies that have led to dry-holes in the past."

ViaLogy has also signed customer contracts to provide QuantumRD
technology for projects with Vecta Oil & Gas based in Dallas, TX
(http://www.vectaoilandgas.com/) and Enrich Oil Corporation of Abilene, TX.
In both cases, ViaLogy will be collaborating with seismic expert Prof. Bob
Hardage (founder of the Exploration Geophysics Laboratory (EGL)
(http://www.beg.utexas.edu/indassoc/egl/ ) and his geophysics team from the
Bureau of Economic Geology (BEG) (http://www.beg.utexas.edu/), at the 
University of Texas at Austin.

Vecta Oil & Gas is at the forefront of E&P companies acquiring and
utilizing multi-component seismic data to image complex structural and
stratigraphic combination traps in the US Midcontinent, the Rockies, and the
Permian basin. Vecta has pioneered instrumentation and protocols for
acquisition of high quality multi-component seismic. The collaboration and
project under discussion will further expand and demonstrate QuantumRD
capability to optimize drilling targets in fractured and compressed Wolfberry
carbonate. Long-term Vecta is particularly interested in applications of
ViaLogy QRI technology to increase signal-to-noise ratio of seismic traces
acquired using multi-component geophones.

The Enrich contract kicks off with a project exercising QuantumRD to
discover stratigraphic traps within the Goen limestone reef formation in
Runnels County, TX using high resolution 3D seismic imaging. Multiple
companies have been drilling in this 8sq mile prospect over the last 40 years
with mixed results. Under the collaboration, ViaLogy will demonstrate a
systematic solution for elucidating carbonate bioherms and porosity pockets
in a lithology that changes dramatically over small areas. ViaLogy will be
responsible for 3D-seismic survey design, processing and analysis to deliver
reservoir sizing and drilling locations.

In its SPM(TM) (Sensor Policy Manager) product area ViaLogy announces a
major US Department of Defense contract win as a core team mate of leading
systems integrator Science Applications International Corporation
(SAIC:NYSE). The contract, Force Protection System II (FPS II), is from the
US Air Force and has a ceiling of $495 million. Under its terms, SAIC,
ViaLogy and other specialized team members place bids over a five year period
for multiple tasks as specified by USAF. Revenue value depends on those
subsequent bids and ViaLogy work share. The win is a major step forward for
ViaLogy's SPM sensor integration technology; the company is teamed with SAIC
for two similar contract submissions to the US DoD.

Summing up ViaLogy's business update Mr. Dean says "We have made good
progress in recruiting E&P customers and in identifying a variety of projects
where our QuantumRD technology can make the difference between a dry hole and
a producing well. It's unrealistic to expect success in every case, but we
believe that over time the technology can have a significant impact in the
hydrocarbon exploration business. Our affiliation with the University of
Texas' BEG should enable us to refine and improve our technology. We are also
pleased with our revenue pipeline. The pace of drilling efforts is dictated
in part by our clients' project schedules. I'm also pleased that our
development and marketing work on SPM has paid off with the SAIC contract
win; we expect others to follow."

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 
http://www.ViaLogy.com.

About The Buckingham Group

The Buckingham Group represents six affiliates, including a drilling
company, O&G operator, land management and Acquisition Company, two
investment companies and a well service company. Collectively, the group
drills about 50 wells per year throughout Texas.

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.