LONDON (ShareCast) - Vialogy (Other OTC: VILGF - news) rose strongly after completing patent filings for its seismic data technology in nine key energy markets.
The firm said the filings for QuantumRD , which interprets core seismic data for the oil and gas industry, would protect its intellectual property ahead of expanded use in countries like India.
"Enforceable coverage in specific national markets is essential because the laws of the country where the technology is used have legal precedence over the technology's country of origin," the company said.
"The filings cover QuantumRD use in conventional sandstone reservoirs, carbonates and nonconventional shale oil/gas plays for both onshore and offshore use."
The nine countries are Brazil, China, Russia, India, Canada, Mexico, Qatar, Bahrain and Israel (Other OTC: IRLCF - news) .
Vialogy has also made preliminary filings for the technology in the European region, covering 38 countries signed up to the European Patent Convention.
The companies shares were up 5.9% after an hour of trading on Monday.