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Greenland Energy pays £500,000 to extend drilling deadlines for Jameson Land Basin wells to December 2028
GLNDGreenland Energy Co
Greenland Energy Company entered into a Deed of Variation and Novation with 80 Mile plc, assuming the rights and obligations of its subsidiary March GL under an existing Farm-Out Agreement for oil exploration in the Jameson Land Basin. The amendment extends the longstop date for drilling the first exploration well from December 31, 2026 to December 31, 2028, and the second well from December 31, 2027 to December 31, 2028. Greenland Energy will assume sole responsibility for obtaining necessary permits at its own cost and will pay 80 Mile £500,000 in cash within five business days. This agreement preserves the operational preparation while aligning future activity with regulatory approval timelines. The company operates as an exploration-stage oil and gas firm focused on developing hydrocarbon resources in Greenland.