Greenland Energy Company extends Jameson Land agreement with 80 Mile plc

Greenland Energy Company announced on September 24, 2026, that it has entered into an agreement to extend its farm-out arrangements concerning the Jameson Land Basin in East Greenland with 80 Mile plc.

Under the terms of the amendment, Greenland Energy Company assumes the rights and obligations previously held by March GL Company, a subsidiary. The longstop date for the first exploration well has been extended from December 31, 2026, to December 31, 2028. Similarly, the deadline for the second exploration well has been moved from December 31, 2027, to December 31, 2028.

The company will now solely bear the costs and responsibility for securing and maintaining the permits and approvals necessary for the drilling program. 80 Mile plc will retain responsibility for other government consents and will provide assistance with Greenland Energy Company's permitting efforts. In consideration for these changes, Greenland Energy Company will pay 80 Mile plc a fee of £500,000.

"This amendment provides the additional time and a clear framework for us to continue advancing the Jameson Land program while the required permitting process progresses," stated Robert Price, CEO of Greenland Energy Company. "By taking direct responsibility for the project specific permitting process, Greenland Energy can work closely with the relevant stakeholders and authorities."

Greenland Energy Company is an exploration-stage oil and gas company focused on the exploration and potential development of hydrocarbon resources in Greenland, particularly within the Jameson Land Basin.