#Greenland #80 Mile PLC #Jameson Land Basin #Sproule ERCE

80 Mile PLC Discovers Vast Oil Reserves in Greenland

On October 29, 2025, 80 Mile PLC, a prominent exploration and development firm listed on several stock exchanges, announced a remarkable finding regarding the Jameson Land Basin in Eastern Greenland. The company's recent evaluation of this region, conducted in partnership with March GL Company and Sproule ERCE, suggests that it holds approximately 13 billion barrels of un-risked prospective oil resources.

Making Waves in Oil Exploration

80 Mile PLC, known for its projects extending to Finland and Italy, has taken a major step with this significant oil discovery. The independent assessment by U.S.-based Sproule ERCE has not only unveiled the potential of Jameson but has also positioned it among the most prospective undrilled basins globally. With a reported 3.9 billion barrels attributable to 80 Mile's interest, the implications for energy investment and resource development are profound.

Launching into drilling operations is on the horizon, with plans anticipated to start in the second half of 2026. Significantly, these drilling operations are fully funded and will be conducted by experts in the field. This venture marks an exciting chapter for 80 Mile and its stakeholders as they prepare to tap into a largely untouched resource.

A Bright Future Ahead

With the recent Sproule Report outlining 58 identified prospects across the basin, the possibilities for oil extraction appear robust. The venture into the depths of the Jameson Land Basin is set to be a considerable undertaking, especially given its comparison to the successful North Sea oil operations. In collaboration with March GL Company, which is prepared to cover all costs for two exploration wells, 80 Mile stands to retain 30% interest through its subsidiary.

The political landscape and economic implications are essential to consider as well. 80 Mile's Executive Director, Roderick McIllree, noted that Jameson now ranks as the thirteenth largest undeveloped oil accumulation worldwide.

The Context of Greenland's Oil Potential

The historical context playing into this discovery is equally noteworthy. Just as Western Europe thrived on North Sea oil, stakeholders are now looking at Greenland's rich resource potential with renewed interest. As the exploration and development landscape evolves, climate considerations will also factor into the dialogue surrounding energy extraction.

With an eye towards sustainability, 80 Mile's strategy aims to balance energy demands while promoting environmentally responsible resource management. The company's commitment to clean energy solutions, alongside its exploration for conventional oil, illustrates a forward-thinking approach.

Conclusion

In summary, the unveiling of unprecedented oil reserves in Greenland's Jameson Land Basin presents a transformative opportunity not just for 80 Mile PLC, but for the energy sector at large. The substantial potential of 13 billion barrels could redefine energy strategies and underscore the strategic importance of Greenland as a resource-rich territory. Stakeholders will watch closely as drilling work approaches, eager to see how these adventurous endeavors materialize and their subsequent impact on local and global energy markets.