Metatek Secures Airborne Gravity Survey Contract with Global Energy Firm in North Africa

Details of the North African Airborne Survey Contract

Metatek revealed it signed a contract with an unnamed global energy company to execute a multidisciplinary airborne acquisition, processing, and interpretation project in North Africa. The survey will employ conventional gravity and magnetic acquisition systems tailored to the client’s technical requirements in the region.

Operations are scheduled to begin in the fourth quarter of 2026 following a development and planning phase. The contract encompasses data acquisition as well as subsequent processing and interpretation, enabling Metatek to provide a comprehensive geophysical solution to the client.

Survey Technology and Methodology

The project will rely on conventional gravity and magnetic systems rather than Metatek’s proprietary full-tensor gravity (eFTG) and dynamic full-tensor gravity (dFTG) technologies. This decision reflects a customized approach designed to meet the client’s specific operational and technical needs.

While Metatek’s portfolio includes advanced eFTG and dFTG technologies, conventional gravity and magnetic tools remain industry-standard for subsurface mapping and resource identification. The client’s choice of conventional systems indicates these methods are optimal for their exploration goals in North Africa.

Revenue Impact and Operational Integration

Metatek described the contract as "incremental to the Company’s planned operating schedule for the second half of 2026," implying it was not previously included in the company’s guidance or asset deployment plans for the remainder of 2026.

This incremental project is expected to generate additional revenue without disrupting or delaying scheduled operations. Metatek emphasized that the survey will proceed alongside ongoing deployment of its primary systems, confirming the contract represents new business rather than resource reallocation.

Strategic Significance of North African Exploration

CEO Dr. Mark Davies stated, "This project reflects Metatek’s expertise in delivering airborne geophysical solutions tailored to meet our clients’ specific technical objectives," underscoring the company’s ability to customize survey programs based on client requirements and operational constraints.

Dr. Davies also highlighted, "Metatek is pleased to support the growing national and international efforts to advance the development of the significant natural resources in this region of North Africa." This aligns with global trends in exploring conventional energy and critical minerals like lithium, nickel, and copper essential for the energy transition.

Metatek’s Business Model and Service Range

Metatek operates globally, specializing in high-definition subsurface mapping across diverse environments and resource types. Its services support exploration and development of strategic minerals, hydrocarbons, helium, and hydrogen resources.

Unlike traditional exploration firms, Metatek focuses on geophysical data acquisition, processing, and scientific interpretation rather than direct resource extraction. The company offers rapid data services across air, land, and sea, catering to varied client exploration needs and operational conditions.

Market Environment for Airborne Geophysical Services

This announcement comes amid heightened global interest in mineral and energy exploration driven by energy security concerns and the shift to renewable energy. Demand for minerals critical to battery technology and sustainable power, such as lithium, nickel, and copper, has surged, creating opportunities for geophysical service providers.

North Africa has gained international focus for its hydrocarbon reserves and emerging critical mineral potential. Metatek’s contract win in this region reflects its strong technical reputation and the accelerating pace of exploration. The global energy company’s selection of Metatek underscores confidence in the Canadian firm’s capacity to execute complex international projects.

Project Timeline and Execution

With in-country operations planned for Q4 2026, Metatek has approximately three months from the announcement date for planning and mobilization. This suggests the client has completed preliminary planning and permitting, enabling swift deployment of equipment and personnel upon contract finalization.

Processing and interpretation deliverables will follow field acquisition completion. The sequential phases—acquisition, processing, and interpretation—are standard in airborne geophysical surveys, allowing efficient project scheduling and resource management across multiple engagements.

Forward-Looking Statements and Risks

Metatek’s disclosure includes standard forward-looking statements warning that actual results may differ materially from expectations. Identified risks include contract timing and execution, mobilization in international jurisdictions, regulatory and permitting challenges, and client relationship continuity.

Operating in North Africa may involve logistical, regulatory, or geopolitical complexities impacting timelines or costs. Success depends on securing permits, customs clearance, and reliable equipment deployment to meet the Q4 2026 start. For detailed risk information, investors are referred to Metatek’s Management Discussion & Analysis and Annual Information Form filed on SEDAR+.

Implications for Metatek’s Growth Strategy

The incremental revenue from this international contract indicates Metatek’s sales efforts are generating new opportunities beyond its existing operating schedule. Securing additional work while maintaining planned operations demonstrates strong market demand and operational capacity.

The contract also shows client willingness to engage Metatek for conventional survey methods alongside proprietary eFTG and dFTG systems. This flexibility expands Metatek’s addressable market, enabling competition for projects where conventional systems are preferred for technical or cost reasons, not solely those requiring advanced tensor gravity technology.