In Japan, Metatek is carrying out a multidisciplinary hydrocarbon, minerals and geothermal survey for a prominent global Japanese energy company using the eFTG. Data acquisition is well underway and is expected to be completed in the coming weeks.
In Azerbaijan, the Company is deploying the dFTG for the State Energy Company and, separately, for a Canadian oil and gas company. Data acquisition is underway and is expected to complete in early October.
"Following the successful completion of a test program last year, our return to Azerbaijan to survey a significantly larger area reflects the confidence the State Energy Company has placed in Metatek and our technology. We are also pleased to be returning to Japan to undertake a technically complex, multidisciplinary survey for a new client. This award follows an extensive technical due diligence process and close collaboration with the client to optimize the survey parameters, further demonstrating the strength and breadth of Metatek's technology offering," said Dr. Mark Davies, Chief Executive Officer of Metatek.
"Building long-term client relationships through consistently delivering high-quality results and understanding our clients' technical requirements is central to our strategy to generate repeat business, which reinforces the quality of our Adjusted Backlog. The expansion of our work in Azerbaijan and the return to Japan for this new client award demonstrate the success of this strategy."
Highlights:
Data acquisition using eFTG is well underway in Japan as part of an integrated data acquisition, processing and interpretation project for a prominent global Japanese energy company.
In-country eFTG data acquisition is expected to be completed in the coming weeks.
Data acquisition using dFTG has commenced in Azerbaijan as part of an integrated data acquisition, processing and interpretation project for the state-owned energy company. While in-country, Metatek will also undertake a similar project for a Canadian energy company.
The dFTG is expected to complete in-country data acquisition operations by early October.
About Metatek
Metatek (www.metatek-group.com) is a global geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land, and sea environments.
Metatek supports national energy security and helps accelerate the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel, and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.
For further information:
Investor Relations
Dennis Fong
(416) 283-9930
investorrelations@metatek-group.com
Media Relations
Oliver Chesher or Hannah Martland
Phone: +44 161 302 0671
Email: oc@galibierpr.co.uk
Email: hannah.martland@galibierpr.co.uk