Can I write Research Paper on improving results of a Phd thesis I do not have any prior experience of publishing any kind of research material, it would be a huge favour if you can give your comments in the following matter:

In a thesis related to Seismic Image Processing, the author has proposed a method for Automatic Fault Detection, I have implemented that method and I have improved the results of the method by introducing some more equations. 

My question is, given the above situation can I publish my findings ? and how should I quote that thesis in the publication ? 

Any suggestion/comment/idea is welcome. 
Thanks!
This is standard practice. Someone does work and publishes it. Someone, possibly same people, but not necessarily, improves on the work and publish that. The fact that it is a thesis should make no difference, so long as the work being improved upon reflects the state of the art.