Greenland Energy pays £500,000 to AIM-listed 80 Mile to push Jameson Land drilling deadlines to 2028
SEC filings show Greenland Energy Company agreed to pay 80 Mile plc £500,000 to extend its East Greenland exploration well deadlines and have a notice terminating their farm-out agreement withdrawn.
Drafted by the Loro Desk from public records and published automatically after a 24-hour hold. Published without editorial review.
Greenland Energy Company agreed on 23 September 2026 to pay 80 Mile plc £500,000 to extend the Jameson Land exploration well deadlines to 31 December 2028, and 80 Mile withdrew its notice terminating the farm-out agreement.
- Payment to 80 Mile plc
- £500,000
- Deed signed
- 23 September 2026
- First well long-stop date
- 31 Dec 2026 → 31 Dec 2028
- Second well long-stop date
- 31 Dec 2027 → 31 Dec 2028
- Termination notice withdrawn
- Dated 21 August 2026
- Licences
- OEEL 2015-13, 2015-14, 2018-40
- SEC CIK
- 2093507
Greenland Energy Company (CIK 2093507), a Texas corporation based in Denver, has agreed to pay £500,000 to 80 Mile plc, a company listed on London's AIM market, in return for changes to a farm-out agreement covering oil exploration licences in the Jameson Land Basin of East Greenland, SEC filings show.
The two companies and Greenland Energy's wholly owned subsidiary, March GL Company, entered into a Deed of Variation and Novation on 23 September 2026. The payment is due within five business days. (Form 8-K, filed 24 September 2026)
The deed moves the long-stop date for the first exploration well from 31 December 2026 to 31 December 2028, and for the second well from 31 December 2027 to 31 December 2028. (Form 8-K, filed 24 September 2026)
Under the deed, 80 Mile withdrew a termination notice dated 21 August 2026, and the farm-out agreement, originally dated 9 September 2025, remains in force. March GL's rights and obligations pass to Greenland Energy, which takes sole responsibility for obtaining drilling permits, access rights and environmental authorisations. The agreement covers licences OEEL 2015-13, OEEL 2015-14 and OEEL 2018-40. (Form 8-K, filed 24 September 2026)
On 28 September the company said it had completed its 2026 environmental baseline field programme at the Jameson Land Project, which Greenland's Ministry of Business and Mineral Resources approved on 19 August 2026. It said the surveys support its environmental impact assessment and permitting process. It did not give a drilling date. (Form 8-K, filed 28 September 2026)
A day later the company furnished a letter to shareholders responding to a report by Fugazi Research. In it, the company said its 13 billion barrel figure is the high-end case of an unrisked prospective resource estimate, that its best estimate is 4.2 billion barrels, and that none of these figures are reserves. (Form 8-K, filed 29 September 2026)
The filings do not state why 80 Mile issued its termination notice or how the £500,000 payment was set. Loro has made no approach to the company. Figures are as reported in Greenland Energy's SEC filings.
Primary sources
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