#United States #Denver #80 Mile PLC #Greenland Energy #Jameson Land

Greenland Energy Company Extends Jameson Land Agreement

Greenland Energy Company (NASDAQ: GLND) has announced a significant milestone in its exploration endeavors in East Greenland. On September 24, 2026, the company disclosed that it has signed a Deed of Variation and Novation with 80 Mile plc (AIM: 80M) and its wholly owned subsidiary March GL. This update pertains to their ongoing Farm-Out Agreement concerning the Jameson Land Basin, an area pivotal for future hydrocarbon exploration.

Key Changes in the Agreement

The newly signed Deed includes several adjustments that are vital for the timeline of exploration activities within the Jameson Land Basin. Notably, the deadline for initiating the first exploration well has been extended from December 31, 2026, to December 31, 2028. Similarly, the longstop date for the subsequent exploration well has also been revised, pushing it from December 31, 2027, to the same date in 2028. These extensions will provide Greenland Energy with the necessary leeway to secure crucial permits and conduct thorough preparations for drilling.

As part of the agreement modifications, Greenland Energy will assume full responsibility for obtaining and managing the required permits for the drilling program at its own expense. Meanwhile, 80 Mile will continue to oversee other government consents associated with the Farm-Out Agreement and will assist Greenland Energy during the permitting process.

Insights from Leadership

Robert Price, the Chief Executive Officer of Greenland Energy, expressed his optimism regarding the amendments, stating, "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. Importantly, the underlying Farm-Out Agreement remains in full force and effect."

Price emphasized the importance of this extension, noting that it allows the company to stay aligned with their operational preparations while complying with regulatory requirements. He further mentioned, "By directly managing the project-specific permitting, Greenland Energy can collaborate more effectively with stakeholders and regulatory authorities, which is crucial for advancing the project."

Financial Considerations

To facilitate this agreement, Greenland Energy has committed to paying 80 Mile plc a fee of £500,000 following the effective date of the Deed. This financial arrangement underscores the collaborative effort between the two companies as they aim to make significant strides in the hydrocarbon exploration sector.

About Greenland Energy Company

Greenland Energy Company is at the forefront of oil and gas exploration focused on responsibly tapping into Greenland’s hydrocarbon resources, particularly in the promising Jameson Land Basin. The company’s mission centers on unlocking the area’s vast potential, which spans approximately 2 million acres, employing modern exploration technologies to ensure the responsible development of these resources. Greenland Energy is actively preparing for future exploration activities in this region, a venture that holds much promise for both the company and local stakeholders.

For ongoing updates and further information about their projects, interested parties can visit Greenland Energy Company’s website.

Cautionary Remarks

This announcement includes forward-looking statements as defined by relevant legislation. These statements are subject to uncertainties and risks that could materially affect actual results. Investors are encouraged to review all associated risks as detailed in the company's filings with the U.S. Securities and Exchange Commission.

• ---

Greenland Energy’s progress within the Jameson Land Basin represents not just a company development but a vital step towards impactful exploration in a region rich with resources. As operations unfold, the energy sector will closely observe how these plans materialize in the coming years.